Alton at a glance
- Population: 28 people, the 563rd-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 29 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 3.4% lower than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 563rd of the state's 565 Census places (US Census Bureau).
- Size percentile: about 0% of places in Indiana are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.1201, -86.4186.
- Nearest larger cities: Leavenworth, IN (7 mi); Mauckport, IN (14 mi); English, IN (15 mi); Brandenburg, KY (16 mi); Corydon, IN (17 mi); US Census Bureau population estimates.
- Nearest smaller places: New Amsterdam, IN (8 mi) (US Census Bureau estimates).
What a personal loan costs in Alton
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Indiana lending rules that apply in Alton
The table carries the Indiana rate and licensing rules that apply to consumer loans made in Alton.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Small Loan License required (IUCCC; separate Consumer Loan License for IC 24-4.5-3 loans) Source says: "unless a person is a supervised financial organization or has first obtained a small loan license from the Department of Financial Institutions (DFI)". | Indiana Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Indiana Department of Financial Institutions (DFI), Consumer Credit Division Source says: "The industries regulated by the Consumer Credit Division are: non-depository small loan ("payday") lenders; traditional installment lenders". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan size limit | $825 maximum aggregate small-loan principal per borrower Source says: "Lenders cannot have loans ... outstanding with you at any one time if the aggregate principal amount/amount financed exceeds $825". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Indiana Code IC 24-4.5-3-508 sets tiered maximum loan finance charges for supervised loans; the official code site renders client-side and the figure could not be confirmed from a fetched page, so no figure is asserted. | Indiana General Assembly (Indiana Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (small loans); finance charges capped at 15% of the first $250 (tiered above) Source says: "Finance charges on the first $250 of a small loan are limited to 15% of the principal". | Indiana Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Alton
A few practical steps will make the process in Alton 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 Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.