Woodland at a glance
- Population: the Census estimates 424 residents, ranking 454th of 533 places in Michigan (Vintage 2023).
- 2020 Census base: 413 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population rose about 2.7% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: 454th of 533 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 15% of places in Michigan are smaller (US Census Bureau).
- Coordinates: it sits at 42.7268, -85.1344 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Lake Odessa, MI (4 mi); Sunfield, MI (7 mi); Vermontville, MI (9 mi); Nashville, MI (9 mi); Hastings, MI (9 mi) (US Census Bureau populations).
- Nearest smaller towns: Clarksville, MI (10 mi); Eagle, MI (18 mi); Martin, MI (29 mi) (US Census Bureau).
What a personal loan costs in Woodland
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Michigan lending rules that apply in Woodland
The sourced rows below are the rules a licensed lender must follow when lending in Michigan, and therefore in Woodland.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Woodland
The steps below are worth completing first when you borrow in Woodland:
- 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.