Madison at a glance
- Population: roughly 717 people; 219th of 500 places in Arkansas (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 756 (US Census Bureau).
- 2020 to 2023 change: down about 5.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Arkansas places: the 219th-largest of 500 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 56% of places in Arkansas rank below it by population (US Census Bureau).
- Coordinates: 35.0180 / -90.7311, per the US Census Bureau Gazetteer.
- Nearest larger cities: Forrest City, AR (4 mi); Wynne, AR (15 mi); Hughes, AR (15 mi); Marianna, AR (17 mi); Parkin, AR (20 mi) — straight-line distances, US Census Bureau populations.
- Smaller towns nearby: Widener, AR (3 mi); Caldwell, AR (6 mi); Colt, AR (9 mi) (US Census Bureau).
What a personal loan costs in Madison
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Arkansas lending rules that apply in Madison
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 | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
How to compare offers in Madison
Before you commit to a personal loan in Madison, work through these steps:
- 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 Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.