Madison at a glance
- Population: roughly 2,156 people; 253rd of 549 places in North Carolina (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,131 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.2% growth over the 2020 Census base (US Census Bureau).
- Rank among North Carolina places: 253rd of the state's 549 Census places (US Census Bureau).
- Size percentile: ahead of around 54% of North Carolina places in population terms (US Census Bureau).
- Coordinates: mapped at 36.3940, -79.9760 by the US Census Bureau Gazetteer.
- Nearest larger cities: Mayodan, NC (2 mi); Stokesdale, NC (11 mi); Wentworth, NC (12 mi); Summerfield, NC (14 mi); Eden, NC (15 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Stoneville, NC (6 mi); Walnut Cove, NC (12 mi); Danbury, NC (13 mi) (Census populations).
What a personal loan costs in Madison
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
North Carolina lending rules that apply in Madison
Read the table as the compliance picture for a lender serving Madison: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
How to compare offers in Madison
The order below is a sensible way to approach a loan in Madison:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.