Richmond Heights at a glance
- Population: 10,509 — 170th in Ohio, which has 924 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 10,799 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.7% below the 2020 Census base (US Census Bureau).
- Rank among Ohio places: 170th of the state's 924 Census places (US Census Bureau).
- Size percentile: about 82% of Ohio's Census places are smaller (US Census Bureau).
- Coordinates: 41.5606 latitude, -81.5077 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Euclid, OH (2 mi); South Euclid, OH (3 mi); Lyndhurst, OH (3 mi); Wickliffe, OH (4 mi); Mayfield Heights, OH (4 mi), each a US Census place with its estimated population.
- Nearest smaller places: Highland Heights, OH (2 mi); Mayfield, OH (4 mi); Willoughby Hills, OH (4 mi) (US Census Bureau estimates).
What a personal loan costs in Richmond Heights
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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.
Ohio lending rules that apply in Richmond Heights
The sourced rows below are the rules a licensed lender must follow when lending in Ohio, and therefore in Richmond Heights.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Richmond Heights
The order below is a sensible way to approach a loan in Richmond Heights:
- 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.