Mackey at a glance
- Population: about 127 residents, ranking 533rd of 565 Census places in Indiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 130 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 2.3% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Indiana places: 533rd of the state's 565 Census places (US Census Bureau).
- Size percentile: roughly 6% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 38.2520, -87.3910 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Somerville, IN (2 mi); Lynnville, IN (5 mi); Oakland City, IN (6 mi); Francisco, IN (6 mi); Elberfeld, IN (7 mi) (US Census Bureau).
- Smaller towns nearby: Alfordsville, IN (32 mi); Phillipstown, IL (35 mi); Maunie, IL (39 mi) (US Census Bureau).
What a personal loan costs in Mackey
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Mackey
Read the table as the compliance picture for a lender serving Mackey: label, sourced figure, publisher and date.
| 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 Mackey
Run through this list before signing anything in Mackey:
- 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.