Frankenmuth at a glance
- Population: a Census-estimated 5,163, placing it 149th among Michigan's 533 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 5,000 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: an increase of about 3.3% since the 2020 count (US Census Bureau).
- Rank among Michigan places: 149th in population of 533 places (US Census Bureau).
- Size percentile: about 72% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 43.3328, -83.7391 in the US Census Bureau Gazetteer.
- Nearest larger cities: Saginaw, MI (12 mi); Bay City, MI (19 mi); Flushing, MI (19 mi); Flint, MI (21 mi); Burton, MI (24 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Birch Run, MI (6 mi); Vassar, MI (9 mi); Reese, MI (9 mi) (US Census Bureau).
What a personal loan costs in Frankenmuth
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Michigan lending rules that apply in Frankenmuth
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Frankenmuth
Here is a short checklist for comparing personal loans in Frankenmuth:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.