Mill Spring at a glance
- Population: roughly 157 people; 721st of 937 places in Missouri (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 160 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 1.9% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Missouri places: the 721st-largest of 937 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 23% of Missouri places in population terms (US Census Bureau).
- Coordinates: 37.0651 latitude, -90.6779 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Piedmont, MO (6 mi); Williamsville, MO (10 mi); Ellsinore, MO (10 mi); Greenville, MO (13 mi); Grandin, MO (18 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Des Arc, MO (15 mi); Dudley, MO (38 mi); Glen Allen, MO (40 mi) (Census populations).
What a personal loan costs in Mill Spring
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Missouri lending rules that apply in Mill Spring
The table lists the Missouri rules that apply to a loan made in Mill Spring, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mill Spring
These steps are the ones that most affect the offer you receive in Mill Spring:
- 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.