Milan at a glance
- Population: 1,759 residents, the 257th-largest of 937 places in Missouri (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,821 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 3.4% below the 2020 Census base (US Census Bureau).
- Rank among Missouri places: the 257th-largest of 937 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 73% of Missouri places in population terms (US Census Bureau).
- Coordinates: 40.2032, -93.1240 (US Census Bureau Gazetteer).
- Nearest larger cities: Trenton, MO (27 mi); Brookfield, MO (29 mi); Kirksville, MO (29 mi); Marceline, MO (35 mi); Chillicothe, MO (36 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Green City, MO (10 mi); Pollock, MO (11 mi); Browning, MO (12 mi) (Census populations).
What a personal loan costs in Milan
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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.
Missouri lending rules that apply in Milan
The Missouri rate caps and licensing rules that reach Milan are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
How to compare offers in Milan
Run through this list before signing anything in Milan:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.