Kingsford at a glance
- Population: about 5,134, 151st by size in Michigan of 533 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 5,142 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 0.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Michigan places: the 151st-largest of 533 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 72% of Michigan's Census places by population (US Census Bureau).
- Coordinates: 45.8064, -88.1004 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Iron Mountain, MI (2 mi); Escanaba, MI (49 mi); Ishpeming, MI (50 mi); Gladstone, MI (52 mi); Menominee, MI (53 mi); US Census Bureau population estimates.
- Nearest smaller communities: Niagara, WI (5 mi); Norway, MI (9 mi); Alpha, MI (21 mi) (Census populations).
What a personal loan costs in Kingsford
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
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 Kingsford
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Kingsford
Run through this list before signing anything in Kingsford:
- 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.