Cannelton at a glance
- Population: roughly 1,494 people; 246th of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,518 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 1.6% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Indiana places: the 246th-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 56% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 37.9115, -86.7387 (US Census Bureau Gazetteer).
- Nearest larger cities: Tell City, IN (3 mi); Lewisport, KY (9 mi); Rockport, IN (17 mi); Santa Claus, IN (17 mi); Hardinsburg, KY (18 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Hawesville, KY (2 mi); Troy, IN (7 mi); Cloverport, KY (8 mi) — US Census Bureau populations.
What a personal loan costs in Cannelton
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.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Indiana lending rules that apply in Cannelton
Read the table as the compliance picture for a lender serving Cannelton: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Cannelton
Before you commit to a personal loan in Cannelton, 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 Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.