Micro at a glance
- Population: 508 residents, the 419th-largest of 549 places in North Carolina (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 456 (US Census Bureau).
- 2020 to 2023 change: about 11.4% growth over the 2020 Census base (US Census Bureau).
- Rank among North Carolina places: 419th of the state's 549 Census places (US Census Bureau).
- Size percentile: larger than about 24% of the Census places in North Carolina (US Census Bureau).
- Coordinates: latitude 35.5624, longitude -78.2035 (US Census Bureau Gazetteer).
- Nearest larger cities: Pine Level, NC (5 mi); Kenly, NC (5 mi); Selma, NC (5 mi); Princeton, NC (7 mi); Smithfield, NC (9 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Sims, NC (16 mi); Saratoga, NC (25 mi); Bunn, NC (27 mi) (US Census Bureau).
What a personal loan costs in Micro
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
North Carolina lending rules that apply in Micro
Each row below is a North Carolina rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Micro
The steps below are worth completing first when you borrow in Micro:
- 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.