St. Charles at a glance
- Population: a Census-estimated 1,956, placing it 255th among Michigan's 533 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,999 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a loss of about 2.2% since the 2020 count (US Census Bureau).
- Rank among Michigan places: 255th of the state's 533 Census places (US Census Bureau).
- Size percentile: about 52% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: 43.2983 latitude, -84.1476 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Chesaning, MI (8 mi); Saginaw, MI (13 mi); Frankenmuth, MI (21 mi); Owosso, MI (21 mi); Auburn, MI (21 mi) (US Census Bureau).
- Smaller towns nearby: Oakley, MI (11 mi); Merrill, MI (12 mi); Montrose, MI (15 mi) (US Census Bureau).
What a personal loan costs in St. Charles
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.
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.
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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Michigan lending rules that apply in St. Charles
The Michigan rate caps and licensing rules that reach St. Charles are listed below, each with its source and retrieval date.
| 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 St. Charles
A few practical steps will make the process in St. Charles less costly:
- 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.