Luna Pier at a glance
- Population: a Census-estimated 1,353, placing it 313th among Michigan's 533 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 1,376 residents here (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 1.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Michigan places: 313th in population of 533 places (US Census Bureau).
- Size percentile: about 41% of places in Michigan are smaller (US Census Bureau).
- Coordinates: 41.8033, -83.4425 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Monroe, MI (8 mi); Oregon, OH (10 mi); Toledo, OH (12 mi); Northwood, OH (14 mi); Ottawa Hills, OH (14 mi); US Census Bureau population estimates.
- Smaller towns nearby: Harbor View, OH (8 mi); Maybee, MI (15 mi); Petersburg, MI (15 mi) (US Census Bureau).
What a personal loan costs in Luna Pier
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Michigan lending rules that apply in Luna Pier
The Michigan rate caps and licensing rules that reach Luna Pier are listed below, each with its source and retrieval date.
| 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 Luna Pier
Here is a short checklist for comparing personal loans in Luna Pier:
- 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.