Springport at a glance
- Population: the Census estimates 819 residents, ranking 382nd of 533 places in Michigan (Vintage 2023).
- 2020 Census base: 831 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 1.4% since the 2020 count (US Census Bureau).
- Rank among Michigan places: 382nd largest of 533 (US Census Bureau).
- Size percentile: about 28% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 42.3783, -84.6965 by the US Census Bureau Gazetteer.
- Nearest larger cities: Eaton Rapids, MI (9 mi); Albion, MI (10 mi); Olivet, MI (13 mi); Concord, MI (14 mi); Leslie, MI (14 mi); US Census Bureau population estimates.
- Nearest smaller towns: Parma, MI (11 mi); Hanover, MI (21 mi); Dansville, MI (24 mi) (US Census Bureau).
What a personal loan costs in Springport
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Michigan lending rules that apply in Springport
The Michigan rate caps and licensing rules that reach Springport are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Springport
Run through this list before signing anything in Springport:
- 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.