Lima at a glance
- Population: about 34,794 residents, ranking 42nd of 924 Census places in Ohio (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 35,579 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 2.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Ohio places: the 42nd-largest of 924 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 95% of the Census places in Ohio (US Census Bureau).
- Coordinates: 40.7407, -84.1121 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Findlay, OH (33 mi); Marion, OH (53 mi); Springfield, OH (59 mi); Fort Wayne, IN (59 mi); Huber Heights, OH (61 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Elida, OH (6 mi); Cairo, OH (6 mi); Cridersville, OH (6 mi) (Census populations).
What a personal loan costs in Lima
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Ohio lending rules that apply in Lima
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lima
The order below is a sensible way to approach a loan in Lima:
- 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.