Pentwater at a glance
- Population: 902 residents, the 370th-largest of 533 places in Michigan (US Census Bureau, Vintage 2023).
- 2020 Census base: 899 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up roughly 0.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Michigan places: 370th largest of 533 (US Census Bureau).
- Size percentile: roughly 31% of places in Michigan rank below it by population (US Census Bureau).
- Coordinates: 43.7796 latitude, -86.4299 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Hart, MI (7 mi); Shelby, MI (12 mi); Ludington, MI (12 mi); Scottville, MI (14 mi); Hesperia, MI (24 mi) (US Census Bureau).
- Nearest smaller towns: New Era, MI (16 mi); Custer, MI (16 mi); Walkerville, MI (16 mi) — US Census Bureau populations.
What a personal loan costs in Pentwater
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Michigan lending rules that apply in Pentwater
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Pentwater
Run through this list before signing anything in Pentwater:
- 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.