Marion at a glance
- Population: 28,105 people, the 36th-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 28,319 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 0.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Indiana places: 36th by size among 565 communities (US Census Bureau).
- Size percentile: roughly 94% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 40.5500 latitude, -85.6604 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Kokomo, IN (25 mi); Muncie, IN (28 mi); Anderson, IN (32 mi); Noblesville, IN (40 mi); Fishers, IN (44 mi) (US Census Bureau).
- Nearest smaller communities: Jonesboro, IN (5 mi); Gas City, IN (5 mi); Sweetser, IN (6 mi), each a US Census place.
What a personal loan costs in Marion
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
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.
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 Marion
The Indiana rate caps and licensing rules that reach Marion are listed below, each with its source and retrieval date.
| 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 Marion
These steps are the ones that most affect the offer you receive in Marion:
- 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.