Millersburg at a glance
- Population: 210 (US Census Bureau, Vintage 2023 subcounty estimate), the 514th-largest of 533 places in Michigan.
- 2020 Census base: 204 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 2.9% higher than at the 2020 Census (US Census Bureau).
- Rank among Michigan places: 514th in population of 533 places (US Census Bureau).
- Size percentile: it is larger than about 4% of the places in Michigan (US Census Bureau).
- Coordinates: 45.3341 latitude, -84.0607 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Onaway, MI (8 mi); Rogers City, MI (14 mi); Posen, MI (18 mi); Hillman, MI (20 mi); Wolverine, MI (27 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Turner, MI (83 mi); Twining, MI (85 mi); Harrietta, MI (107 mi) (US Census Bureau).
What a personal loan costs in Millersburg
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
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.
Michigan lending rules that apply in Millersburg
The table carries the Michigan rate and licensing rules that apply to consumer loans made in Millersburg.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Millersburg
Run through this list before signing anything in Millersburg:
- 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 Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.