Clear Lake at a glance
- Population: 357, the 446th-largest community in Indiana out of 565 (US Census Bureau, Vintage 2023).
- 2020 Census base: 354 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up roughly 0.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: 446th of the state's 565 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 21% of Indiana's Census places by population (US Census Bureau).
- Coordinates: 41.7390, -84.8344 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Camden, MI (4 mi); Fremont, IN (5 mi); Reading, MI (8 mi); Angola, IN (11 mi); Edon, OH (13 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Montgomery, MI (3 mi); Allen, MI (16 mi); Blakeslee, OH (16 mi) (US Census Bureau).
What a personal loan costs in Clear Lake
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
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.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Indiana lending rules that apply in Clear Lake
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clear Lake
The order below is a sensible way to approach a loan in Clear Lake:
- 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.