Clarks Hill at a glance
- Population: 613, the 380th-largest community in Indiana out of 565 (US Census Bureau, Vintage 2023).
- 2020 Census base: 598 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 2.5% growth over the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 380th by size among 565 communities (US Census Bureau).
- Size percentile: ahead of around 33% of Indiana places in population terms (US Census Bureau).
- Coordinates: 40.2472 / -86.7244, per the US Census Bureau Gazetteer.
- Nearest larger cities: Colfax, IN (5 mi); Mulberry, IN (7 mi); Dayton, IN (9 mi); Darlington, IN (10 mi); Thorntown, IN (10 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: New Richmond, IN (14 mi); Advance, IN (18 mi); Michigantown, IN (18 mi) — US Census Bureau populations.
What a personal loan costs in Clarks Hill
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Indiana lending rules that apply in Clarks Hill
The sourced rows below are the rules a licensed lender must follow when lending in Indiana, and therefore in Clarks Hill.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clarks Hill
Here is a short checklist for comparing personal loans in Clarks Hill:
- 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.