Petal at a glance
- Population: 11,403, the 37th-largest community in Mississippi out of 299 (US Census Bureau, Vintage 2023).
- 2020 Census base: 11,090 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 2.8% more residents than the 2020 Census base (US Census Bureau).
- Rank among Mississippi places: 37th out of 299 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 88% of Mississippi's Census places by population (US Census Bureau).
- Coordinates: it sits at 31.3482, -89.2351 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Hattiesburg, MS (6 mi); Laurel, MS (24 mi); Picayune, MS (62 mi); Gulfport, MS (65 mi); D'Iberville, MS (66 mi) (US Census Bureau populations).
- Nearest smaller communities: New Augusta, MS (16 mi); Purvis, MS (17 mi); Ellisville, MS (17 mi), each a US Census place.
What a personal loan costs in Petal
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Mississippi lending rules that apply in Petal
The sourced rows below are the rules a licensed lender must follow when lending in Mississippi, and therefore in Petal.
| Rule | Detail | Source |
|---|---|---|
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
How to compare offers in Petal
Before you commit to a personal loan in Petal, work through these steps:
- 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.