McLain at a glance
- Population: 316 people, the 239th-largest place among Mississippi's 299 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 314 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 0.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Mississippi places: 239th of 299 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 20% of places in Mississippi are smaller (US Census Bureau).
- Coordinates: 31.0956, -88.8224 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Beaumont, MS (8 mi); New Augusta, MS (14 mi); Leakesville, MS (16 mi); Lucedale, MS (18 mi); Richton, MS (19 mi) (US Census Bureau).
- Smaller places close by: McIntosh, AL (48 mi); Seminary, MS (51 mi); Angie, LA (60 mi) (US Census Bureau).
What a personal loan costs in McLain
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Mississippi lending rules that apply in McLain
The table lists the Mississippi rules that apply to a loan made in McLain, each with the regulator that published it.
| 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 McLain
The order below is a sensible way to approach a loan in McLain:
- 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.