Liberty at a glance
- Population: 2,010 (US Census Bureau, Vintage 2023 subcounty estimate), the 207th-largest of 565 places in Indiana.
- 2020 Census base: 2,048 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 1.9% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Indiana places: the 207th-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 63% of the places in Indiana (US Census Bureau).
- Coordinates: 39.6349 latitude, -84.9273 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Connersville, IN (12 mi); Oxford, OH (13 mi); Centerville, IN (13 mi); Richmond, IN (14 mi); Brookville, IN (15 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: West College Corner, IN (7 mi); College Corner, OH (8 mi); Boston, IN (8 mi) (US Census Bureau estimates).
What a personal loan costs in Liberty
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.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Indiana lending rules that apply in Liberty
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Liberty
A few practical steps will make the process in Liberty 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.