Clay City at a glance
- Population: roughly 886 people; 325th of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 879 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 0.8% more residents than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 325th-largest of 565 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 42% of the Census places in Indiana (US Census Bureau).
- Coordinates: mapped at 39.2770, -87.1127 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Jasonville, IN (9 mi); Worthington, IN (13 mi); Farmersburg, IN (14 mi); Shelburn, IN (17 mi); Linton, IN (17 mi) (US Census Bureau populations).
- Smaller places nearby: Center Point, IN (10 mi); Hymera, IN (12 mi); Riley, IN (13 mi), per US Census Bureau estimates.
What a personal loan costs in Clay City
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Indiana lending rules that apply in Clay City
The table lists the Indiana rules that apply to a loan made in Clay City, each with the regulator that published it.
| 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 Clay City
The order below is a sensible way to approach a loan in Clay City:
- 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.