Milford at a glance
- Population: about 27 residents, ranking 914th of 937 Census places in Missouri (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 27 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: no meaningful change since the 2020 count (US Census Bureau).
- Rank among Missouri places: 914th of the state's 937 Census places (US Census Bureau).
- Size percentile: ahead of around 2% of Missouri places in population terms (US Census Bureau).
- Coordinates: 37.5863 / -94.1582, per the US Census Bureau Gazetteer.
- Nearest larger cities: Jerico Springs, MO (8 mi); Sheldon, MO (9 mi); Lamar, MO (9 mi); Lamar Heights, MO (10 mi); Golden City, MO (14 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Metz, MO (32 mi); Stotesbury, MO (35 mi); Gerster, MO (41 mi) (US Census Bureau estimates).
What a personal loan costs in Milford
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Missouri lending rules that apply in Milford
The sourced rows below are the rules a licensed lender must follow when lending in Missouri, and therefore in Milford.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Milford
Before you commit to a personal loan in Milford, work through these steps:
- 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.