Raleigh at a glance
- Population: the Census estimates 1,087 residents, ranking 146th of 299 places in Mississippi (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 1,089 residents here (US Census Bureau).
- 2020 to 2023 change: about 0.2% below the 2020 Census base (US Census Bureau).
- Rank among Mississippi places: 146th by size among 299 communities (US Census Bureau).
- Size percentile: it is larger than about 51% of the places in Mississippi (US Census Bureau).
- Coordinates: 32.0347 latitude, -89.5257 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Bay Springs, MS (15 mi); Taylorsville, MS (15 mi); Magee, MS (17 mi); Mendenhall, MS (21 mi); Forest, MS (23 mi); US Census Bureau population estimates.
- Smaller towns nearby: Sylvarena, MS (9 mi); Mize, MS (12 mi); Polkville, MS (15 mi) (US Census Bureau).
What a personal loan costs in Raleigh
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Mississippi lending rules that apply in Raleigh
Read the table as the compliance picture for a lender serving Raleigh: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
How to compare offers in Raleigh
The order below is a sensible way to approach a loan in Raleigh:
- 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.