Lakewood Club at a glance
- Population: the Census estimates 1,324 residents, ranking 317th of 533 places in Michigan (Vintage 2023).
- 2020 Census base: 1,333 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a decline of roughly 0.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Michigan places: the 317th-largest of 533 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 41% of the Census places in Michigan (US Census Bureau).
- Coordinates: 43.3762 / -86.2526, per the US Census Bureau Gazetteer.
- Nearest larger cities: Whitehall, MI (5 mi); Montague, MI (6 mi); North Muskegon, MI (9 mi); Muskegon, MI (10 mi); Muskegon Heights, MI (12 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Rothbury, MI (11 mi); New Era, MI (14 mi); Hesperia, MI (17 mi), each a US Census place.
What a personal loan costs in Lakewood Club
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
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 Lakewood Club
The sourced rows below are the rules a licensed lender must follow when lending in Michigan, and therefore in Lakewood Club.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lakewood Club
Run through this list before signing anything in Lakewood Club:
- 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.