Cloverdale at a glance
- Population: 2,152 people, the 192nd-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,057 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 4.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 192nd of the state's 565 Census places (US Census Bureau).
- Size percentile: about 66% of places in Indiana are smaller (US Census Bureau).
- Coordinates: latitude 39.5212, longitude -86.7987 (US Census Bureau Gazetteer).
- Nearest larger cities: Greencastle, IN (9 mi); Spencer, IN (16 mi); Brazil, IN (17 mi); Monrovia, IN (18 mi); Martinsville, IN (21 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Fillmore, IN (11 mi); Stilesville, IN (12 mi); Coatesville, IN (13 mi) (US Census Bureau).
What a personal loan costs in Cloverdale
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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 Cloverdale
Each row below is a Indiana rule with its publisher and the date it was retrieved.
| 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 Cloverdale
Before you share your details with a lender in Cloverdale:
- 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.