Canton at a glance
- Population: about 69,197 residents, ranking 8th of 924 Census places in Ohio (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 70,768 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down about 2.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Ohio places: 8th-largest of 924 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 99% of places in Ohio rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.8077, -81.3672.
- Nearest larger cities: Akron, OH (20 mi); Parma, OH (44 mi); Cleveland, OH (49 mi); Pittsburgh, PA (77 mi); Columbus, OH (102 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Meyers Lake, OH (3 mi); Hills and Dales, OH (4 mi); East Canton, OH (4 mi) (US Census Bureau).
What a personal loan costs in Canton
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Ohio lending rules that apply in Canton
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Canton
A few practical steps will make the process in Canton 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.