Grand Beach at a glance
- Population: 286 residents, the 494th-largest of 533 places in Michigan (US Census Bureau, Vintage 2023).
- 2020 Census base: 280 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a gain of roughly 2.1% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Michigan places: 494th-largest of 533 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 7% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.7746, -86.7884.
- Nearest larger cities: Michiana Shores, IN (2 mi); New Buffalo, MI (3 mi); Long Beach, IN (4 mi); Michigan City, IN (6 mi); Trail Creek, IN (6 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Michiana, MI (1 mi); Pottawattamie Park, IN (5 mi); Kingsbury, IN (18 mi) — US Census Bureau populations.
What a personal loan costs in Grand Beach
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Michigan lending rules that apply in Grand Beach
The Michigan rate caps and licensing rules that reach Grand Beach are listed below, each with its source and retrieval date.
| 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 Grand Beach
The steps below are worth completing first when you borrow in Grand Beach:
- 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.