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Personal loans in Madison, MS

For residents of Madison, a personal loan is a lump sum with a fixed repayment schedule, and its cost reflects your credit, income and debt-to-income picture. The Census puts Madison at about 27,987 residents, the 10th-largest of 299 places in Mississippi. The sourced table below lists the Mississippi rate caps and licensing rules a lender must follow on a loan made here.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Compare rates Run the numbers first

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Madison at a glance

  • Population: a Census-estimated 27,987, placing it 10th among Mississippi's 299 places (Vintage 2023 subcounty estimate).
  • 2020 Census base: 27,751 people (US Census Bureau, 2020 Census count).
  • 2020 to 2023 change: a gain of roughly 0.9% between the 2020 count and the 2023 estimate (US Census Bureau).
  • Rank among Mississippi places: 10th by size among 299 communities (US Census Bureau).
  • Size percentile: it exceeds roughly 97% of Mississippi's Census places by population (US Census Bureau).
  • Coordinates: latitude 32.4739, longitude -90.1309 (US Census Bureau Gazetteer).
  • Nearest larger cities: Jackson, MS (12 mi); Pearl, MS (14 mi); Meridian, MS (84 mi); Hattiesburg, MS (94 mi); Monroe, LA (113 mi), each a US Census place with its estimated population.
  • Nearest smaller communities: Ridgeland, MS (4 mi); Gluckstadt, MS (4 mi); Flowood, MS (10 mi), each a US Census place.

What a personal loan costs in Madison

A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.

Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.

A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.

Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.

Mississippi lending rules that apply in Madison

Read the table as the compliance picture for a lender serving Madison: label, sourced figure, publisher and date.

RuleDetailSource
Small-loan / installment lender licensingSmall 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 regulatorMississippi 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
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 statusLegal 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

How to compare offers in Madison

Before you share your details with a lender in Madison:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Mississippi using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Madison?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Madison are the same as elsewhere in Mississippi.
How much can I borrow with a personal loan in Madison?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Madison require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Madison hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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