Lexington at a glance
- Population: roughly 1,447 people; 128th of 299 places in Mississippi (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,602 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 9.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Mississippi places: 128th of the state's 299 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 57% of Mississippi's Census places by population (US Census Bureau).
- Coordinates: 33.1171, -90.0496 (US Census Bureau Gazetteer).
- Nearest larger cities: Tchula, MS (11 mi); Durant, MS (11 mi); Belzoni, MS (26 mi); Kosciusko, MS (27 mi); Yazoo City, MS (27 mi); US Census Bureau population estimates.
- Smaller towns nearby: Goodman, MS (13 mi); Pickens, MS (16 mi); West, MS (16 mi) (US Census Bureau).
What a personal loan costs in Lexington
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Mississippi lending rules that apply in Lexington
The Mississippi rate caps and licensing rules that reach Lexington are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lexington
A few practical steps will make the process in Lexington 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.