Grenada at a glance
- Population: the Census estimates 12,267 residents, ranking 32nd of 299 places in Mississippi (Vintage 2023).
- 2020 Census base: 12,697 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 3.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Mississippi places: 32nd by size among 299 communities (US Census Bureau).
- Size percentile: it exceeds roughly 89% of Mississippi's Census places by population (US Census Bureau).
- Coordinates: 33.7814, -89.8115 (US Census Bureau Gazetteer).
- Nearest larger cities: Greenwood, MS (29 mi); Oxford, MS (42 mi); Clarksdale, MS (52 mi); Starkville, MS (61 mi); Tupelo, MS (70 mi); US Census Bureau population estimates.
- Nearest smaller communities: Duck Hill, MS (12 mi); Coffeeville, MS (15 mi); North Carrollton, MS (19 mi), each a US Census place.
What a personal loan costs in Grenada
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Mississippi lending rules that apply in Grenada
The table lists the Mississippi rules that apply to a loan made in Grenada, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
How to compare offers in Grenada
A few practical steps will make the process in Grenada less costly:
- 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.