Milan at a glance
- Population: 8,292 residents, the 70th-largest of 344 places in Tennessee (US Census Bureau, Vintage 2023).
- 2020 Census base: 8,178 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up about 1.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Tennessee places: 70th of 344 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 80% of Tennessee's Census places are smaller (US Census Bureau).
- Coordinates: 35.9120, -88.7540 (US Census Bureau Gazetteer).
- Nearest larger cities: Jackson, TN (18 mi); Martin, TN (30 mi); Brownsville, TN (36 mi); Dyersburg, TN (36 mi); Paris, TN (36 mi), each a US Census place with its estimated population.
- Nearest smaller places: Gibson, TN (6 mi); Atwood, TN (6 mi); Medina, TN (7 mi) (US Census Bureau estimates).
What a personal loan costs in Milan
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Tennessee lending rules that apply in Milan
Each row below is a Tennessee rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.