McGehee at a glance
- Population: 3,555 people, the 90th-largest place among Arkansas's 500 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 3,873 (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 8.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Arkansas places: 90th out of 500 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 82% of Arkansas's Census places by population (US Census Bureau).
- Coordinates: 33.6278 latitude, -91.3950 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Dumas, AR (18 mi); Monticello, AR (23 mi); Greenville, MS (26 mi); Leland, MS (33 mi); Warren, AR (39 mi); US Census Bureau population estimates.
- Smaller towns nearby: Reed, AR (6 mi); Tillar, AR (7 mi); Dermott, AR (7 mi) (US Census Bureau).
What a personal loan costs in McGehee
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Arkansas lending rules that apply in McGehee
The table carries the Arkansas rate and licensing rules that apply to consumer loans made in McGehee.
| 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 McGehee
These steps are the ones that most affect the offer you receive in McGehee:
- 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.