Inverness at a glance
- Population: the Census estimates 805 residents, ranking 170th of 299 places in Mississippi (Vintage 2023).
- 2020 Census base: 867 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population fell about 7.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Mississippi places: 170th by size among 299 communities (US Census Bureau).
- Size percentile: roughly 43% of Mississippi's places have fewer residents (US Census Bureau).
- Coordinates: 33.3542, -90.5912 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Indianola, MS (7 mi); Moorhead, MS (8 mi); Belzoni, MS (13 mi); Sunflower, MS (13 mi); Leland, MS (18 mi) (US Census Bureau populations).
- Nearest smaller towns: Isola, MS (6 mi); Morgan City, MS (14 mi); Arcola, MS (18 mi) (US Census Bureau).
What a personal loan costs in Inverness
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Mississippi lending rules that apply in Inverness
The table lists the Mississippi rules that apply to a loan made in Inverness, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Inverness
Here is a short checklist for comparing personal loans in Inverness:
- 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.