Modoc at a glance
- Population: about 160 residents, ranking 522nd of 565 Census places in Indiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 162 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 1.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Indiana places: 522nd in population of 565 places (US Census Bureau).
- Size percentile: roughly 8% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 40.0455 / -85.1262, per the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Losantville, IN (3 mi); Mooreland, IN (7 mi); Hagerstown, IN (9 mi); Lynn, IN (10 mi); Farmland, IN (10 mi) (US Census Bureau).
- Smaller places close by: Economy, IN (5 mi); Blountsville, IN (6 mi); Springport, IN (14 mi) (US Census Bureau).
What a personal loan costs in Modoc
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Indiana lending rules that apply in Modoc
The table carries the Indiana rate and licensing rules that apply to consumer loans made in Modoc.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Modoc
Here is a short checklist for comparing personal loans in Modoc:
- 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.