Commercial Point at a glance
- Population: 3,215 people, the 321st-largest place among Ohio's 924 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,079 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: up roughly 4.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Ohio places: 321st largest of 924 (US Census Bureau).
- Size percentile: it exceeds roughly 65% of Ohio's Census places by population (US Census Bureau).
- Coordinates: 39.7904, -83.0184 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Ashville, OH (6 mi); Obetz, OH (6 mi); Grove City, OH (8 mi); Groveport, OH (8 mi); Canal Winchester, OH (11 mi) (US Census Bureau).
- Nearest smaller towns: Lockbourne, OH (2 mi); South Bloomfield, OH (5 mi); Harrisburg, OH (8 mi) — US Census Bureau populations.
What a personal loan costs in Commercial Point
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.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Ohio lending rules that apply in Commercial Point
The sourced rows below are the rules a licensed lender must follow when lending in Ohio, and therefore in Commercial Point.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Ohio 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 status | Legal 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 licensing | Consumer 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 Commercial Point
Run through this list before signing anything in Commercial Point:
- 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.