Bailey Lakes at a glance
- Population: 346, the 732nd-largest community in Ohio out of 924 (US Census Bureau, Vintage 2023).
- 2020 Census base: 350 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 1.1% since the 2020 count (US Census Bureau).
- Rank among Ohio places: 732nd of 924 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 21% of places in Ohio are smaller (US Census Bureau).
- Coordinates: 40.9496 / -82.3593, per the US Census Bureau Gazetteer.
- Nearest larger cities: Ashland, OH (6 mi); New London, OH (9 mi); Greenwich, OH (10 mi); Shiloh, OH (13 mi); Hayesville, OH (13 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Savannah, OH (1 mi); Polk, OH (8 mi); Mifflin, OH (12 mi) — US Census Bureau populations.
What a personal loan costs in Bailey Lakes
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Ohio lending rules that apply in Bailey Lakes
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer finance licenses required for non-depository lenders, including Consumer Installment Loan Act lenders, General Loan Law lenders, short-term lenders, and small loan lenders. Source says: "We issue and manage licenses for companies and individuals under multiple Ohio statutes." (page's regulated-statutes list names Consumer Installment Loan Act lenders, General Loan Law lenders, Short-term lenders, Small loan lenders). | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| State lending regulator | Ohio Department of Commerce, Division of Financial Institutions (Consumer Finance Section). Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses." | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages). Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network] | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Payday lending status | Legal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount. Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403). | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
How to compare offers in Bailey Lakes
These steps are the ones that most affect the offer you receive in Bailey Lakes:
- 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.