Fairland at a glance
- Population: the Census estimates 535 residents, ranking 404th of 565 places in Indiana (Vintage 2023).
- 2020 Census base: 543 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 1.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Indiana places: 404th largest of 565 (US Census Bureau).
- Size percentile: roughly 28% of places in Indiana rank below it by population (US Census Bureau).
- Coordinates: mapped at 39.5848, -85.8624 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Shelbyville, IN (5 mi); New Palestine, IN (10 mi); Morristown, IN (10 mi); Whiteland, IN (11 mi); Franklin, IN (12 mi) (US Census Bureau).
- Nearest smaller towns: Spring Lake, IN (13 mi); Clifford, IN (21 mi); Hartsville, IN (24 mi) (US Census Bureau).
What a personal loan costs in Fairland
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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 Fairland
The table carries the Indiana rate and licensing rules that apply to consumer loans made in Fairland.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Fairland
A few practical steps will make the process in Fairland less costly:
- 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.