Michie at a glance
- Population: about 668, 264th by size in Tennessee of 344 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 658 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 1.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Tennessee places: 264th out of 344 Census places (US Census Bureau).
- Size percentile: roughly 23% of Tennessee's places have fewer residents (US Census Bureau).
- Coordinates: mapped at 35.0604, -88.4257 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Eastview, TN (7 mi); Corinth, MS (9 mi); Farmington, MS (10 mi); Adamsville, TN (12 mi); Selmer, TN (12 mi) (US Census Bureau).
- Smaller towns nearby: Stantonville, TN (7 mi); Guys, TN (7 mi); Ramer, TN (11 mi) (US Census Bureau).
What a personal loan costs in Michie
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Tennessee lending rules that apply in Michie
The table carries the Tennessee rate and licensing rules that apply to consumer loans made in Michie.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in Michie
Run through this list before signing anything in Michie:
- 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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.