Roann at a glance
- Population: roughly 435 people; 426th of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 439 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 0.9% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: 426th of 565 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 25% of the places in Indiana (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.9110, -85.9246.
- Nearest larger cities (120-mile radius): Denver, IN (9 mi); Wabash, IN (9 mi); North Manchester, IN (10 mi); Akron, IN (10 mi); Silver Lake, IN (11 mi) (US Census Bureau).
- Smaller towns nearby: Macy, IN (11 mi); Lagro, IN (11 mi); Claypool, IN (15 mi) (US Census Bureau).
What a personal loan costs in Roann
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Roann
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Roann
Before you commit to a personal loan in Roann, work through these steps:
- 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.