Laconia at a glance
- Population: about 71, 556th by size in Indiana of 565 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 70 residents here (US Census Bureau).
- 2020 to 2023 change: about 1.4% more residents than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 556th by size among 565 communities (US Census Bureau).
- Size percentile: about 2% of Indiana's Census places are smaller (US Census Bureau).
- Coordinates: 38.0318 latitude, -86.0855 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Brandenburg, KY (6 mi); West Point, KY (8 mi); Muldraugh, KY (8 mi); Ekron, KY (9 mi); Elizabeth, IN (9 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Mauckport, IN (6 mi); New Amsterdam, IN (11 mi); Alton, IN (19 mi) (US Census Bureau).
What a personal loan costs in Laconia
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Laconia
The Indiana rate caps and licensing rules that reach Laconia are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Laconia
Before you share your details with a lender in Laconia:
- 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.