Bedford at a glance
- Population: about 13,855, 65th by size in Indiana of 565 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 13,801 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 0.4% higher than at the 2020 Census (US Census Bureau).
- Rank among Indiana places: 65th-largest of 565 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 88% of Indiana's Census places by population (US Census Bureau).
- Coordinates: 38.8602 latitude, -86.4895 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Bloomington, IN (21 mi); Seymour, IN (33 mi); Columbus, IN (39 mi); Jasper, IN (40 mi); Franklin, IN (50 mi) (US Census Bureau).
- Nearest smaller towns: Oolitic, IN (3 mi); Mitchell, IN (9 mi); Orleans, IN (14 mi) — US Census Bureau populations.
What a personal loan costs in Bedford
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Indiana lending rules that apply in Bedford
The table lists the Indiana rules that apply to a loan made in Bedford, each with the regulator that published it.
| 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 Bedford
These steps are the ones that most affect the offer you receive in Bedford:
- 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.