New Madrid at a glance
- Population: a Census-estimated 2,623, placing it 206th among Missouri's 937 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 2,785 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 5.8% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Missouri places: 206th largest of 937 (US Census Bureau).
- Size percentile: it is larger than about 78% of the places in Missouri (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.5864, -89.5512.
- Nearest larger cities: Portageville, MO (14 mi); Tiptonville, TN (15 mi); East Prairie, MO (16 mi); Sikeston, MO (21 mi); Malden, MO (25 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Howardville, MO (3 mi); Lilbourn, MO (3 mi); North Lilbourn, MO (4 mi) (US Census Bureau estimates).
What a personal loan costs in New Madrid
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Missouri lending rules that apply in New Madrid
Read the table as the compliance picture for a lender serving New Madrid: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
How to compare offers in New Madrid
A few practical steps will make the process in New Madrid less costly:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.