Matthews at a glance
- Population: 495 people, the 413th-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 494 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 0.2% growth over the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 413th in population of 565 places (US Census Bureau).
- Size percentile: roughly 27% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 40.3875, -85.4978 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Gaston, IN (5 mi); Upland, IN (5 mi); Hartford City, IN (8 mi); Fairmount, IN (8 mi); Summitville, IN (8 mi) (US Census Bureau).
- Smaller places nearby: Shamrock Lakes, IN (4 mi); Fowlerton, IN (4 mi); Orestes, IN (14 mi), per US Census Bureau estimates.
What a personal loan costs in Matthews
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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 longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Indiana lending rules that apply in Matthews
Read the table as the compliance picture for a lender serving Matthews: label, sourced figure, publisher and 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 Matthews
Before you share your details with a lender in Matthews:
- 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.