New Waterford at a glance
- Population: a Census-estimated 1,168, placing it 503rd among Ohio's 924 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,195 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 2.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Ohio places: 503rd-largest of 924 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 46% of Ohio's Census places are smaller (US Census Bureau).
- Coordinates: 40.8478 latitude, -80.6188 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Columbiana, OH (4 mi); East Palestine, OH (4 mi); Leetonia, OH (8 mi); New Middletown, OH (9 mi); Lisbon, OH (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Rogers, OH (4 mi); Washingtonville, OH (8 mi); S.N.P.J., PA (9 mi) — US Census Bureau populations.
What a personal loan costs in New Waterford
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.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Ohio lending rules that apply in New Waterford
The table lists the Ohio rules that apply to a loan made in New Waterford, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in New Waterford
Before you commit to a personal loan in New Waterford, work through these steps:
- 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.