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Personal loans in Caledonia, OH

Borrowers in Caledonia use personal loans to consolidate balances or cover a one-time cost, and the terms depend on your credit, income and existing obligations. The Census counts about 550 residents in Caledonia, ranking it 645th among the 924 places in Ohio. Every lender serving Ohio must observe the state's rate caps and licensing rules, shown with their sources below.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Advertising disclosure: Personalloaned may receive a referral fee if you apply through a link on this page. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Caledonia at a glance

  • Population: 550 — 645th in Ohio, which has 924 Census places (US Census Bureau, Vintage 2023).
  • 2020 Census base: the 2020 Census recorded 557 residents here (US Census Bureau).
  • 2020 to 2023 change: about 1.3% lower than the 2020 Census base (US Census Bureau).
  • Rank among Ohio places: 645th-largest of 924 (US Census Bureau, Vintage 2023 estimate).
  • Size percentile: roughly 30% of Ohio's places have fewer residents (US Census Bureau).
  • Coordinates: it sits at 40.6364, -82.9695 in the US Census Bureau Gazetteer.
  • Nearest larger cities: Marion, OH (9 mi); Mount Gilead, OH (9 mi); Cardington, OH (10 mi); Bucyrus, OH (12 mi); Galion, OH (12 mi); each population is a US Census Bureau estimate.
  • Nearest smaller towns: Edison, OH (8 mi); North Robinson, OH (12 mi); Morral, OH (13 mi) (US Census Bureau).

What a personal loan costs in Caledonia

The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.

The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.

Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.

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 Caledonia

Where a figure is not published by the state, the row points to the source instead of guessing.

RuleDetailSource
State lending regulatorOhio 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 statusLegal 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 licensingConsumer 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 Caledonia

Run through this list before signing anything in Caledonia:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Ohio using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Caledonia?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Caledonia are the same as elsewhere in Ohio.
How much can I borrow with a personal loan in Caledonia?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Caledonia require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Caledonia hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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