Mattawan at a glance
- Population: about 2,756, 212th by size in Michigan of 533 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,555 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 7.9% growth over the 2020 Census base (US Census Bureau).
- Rank among Michigan places: 212th of the state's 533 Census places (US Census Bureau).
- Size percentile: roughly 60% of places in Michigan rank below it by population (US Census Bureau).
- Coordinates: 42.2156, -85.7958 (US Census Bureau Gazetteer).
- Nearest larger cities: Paw Paw, MI (5 mi); Portage, MI (11 mi); Kalamazoo, MI (11 mi); Vicksburg, MI (15 mi); Otsego, MI (17 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Lawton, MI (4 mi); Schoolcraft, MI (11 mi); Gobles, MI (11 mi) (US Census Bureau estimates).
What a personal loan costs in Mattawan
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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 longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Michigan lending rules that apply in Mattawan
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mattawan
Run through this list before signing anything in Mattawan:
- 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.