Hudson at a glance
- Population: 2,362 (US Census Bureau, Vintage 2023 subcounty estimate), the 228th-largest of 533 places in Michigan.
- 2020 Census base: 2,422 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 2.5% lower than the 2020 Census base (US Census Bureau).
- Rank among Michigan places: 228th in population of 533 places (US Census Bureau).
- Size percentile: about 57% of places in Michigan are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.8565, -84.3457.
- Nearest larger cities (within 120 miles): Adrian, MI (16 mi); Hillsdale, MI (16 mi); Montpelier, OH (23 mi); Tecumseh, MI (23 mi); Wauseon, OH (23 mi) (US Census Bureau populations).
- Nearest smaller communities: Clayton, MI (6 mi); Addison, MI (9 mi); Waldron, MI (10 mi) (Census populations).
What a personal loan costs in Hudson
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Hudson
The sourced rows below are the rules a licensed lender must follow when lending in Michigan, and therefore in Hudson.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hudson
Here is a short checklist for comparing personal loans in Hudson:
- 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.