McGuffey at a glance
- Population: 458 (US Census Bureau, Vintage 2023 subcounty estimate), the 680th-largest of 924 places in Ohio.
- 2020 Census base: 465 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: down roughly 1.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Ohio places: 680th of the state's 924 Census places (US Census Bureau).
- Size percentile: it is larger than about 26% of the places in Ohio (US Census Bureau).
- Coordinates: 40.6928 latitude, -83.7859 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Alger, OH (3 mi); Ada, OH (6 mi); Kenton, OH (10 mi); Dunkirk, OH (10 mi); Waynesfield, OH (12 mi), each a US Census place with its estimated population.
- Smaller places nearby: Harrod, OH (7 mi); Lafayette, OH (10 mi); Beaverdam, OH (14 mi), per US Census Bureau estimates.
What a personal loan costs in McGuffey
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.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Ohio lending rules that apply in McGuffey
The table carries the Ohio rate and licensing rules that apply to consumer loans made in McGuffey.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in McGuffey
The steps below are worth completing first when you borrow in McGuffey:
- 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.