Seven Mile at a glance
- Population: 724 (US Census Bureau, Vintage 2023 subcounty estimate), the 588th-largest of 924 places in Ohio.
- 2020 Census base: 717 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 1.0% higher than at the 2020 Census (US Census Bureau).
- Rank among Ohio places: 588th of the state's 924 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 36% of Ohio's Census places by population (US Census Bureau).
- Coordinates: 39.4859 latitude, -84.5523 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): New Miami, OH (4 mi); Trenton, OH (5 mi); Hamilton, OH (6 mi); Middletown, OH (10 mi); Monroe, OH (10 mi) (US Census Bureau).
- Smaller places nearby: Jacksonburg, OH (4 mi); West Elkton, OH (7 mi); Millville, OH (8 mi), per US Census Bureau estimates.
What a personal loan costs in Seven Mile
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 is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Ohio lending rules that apply in Seven Mile
The table carries the Ohio rate and licensing rules that apply to consumer loans made in Seven Mile.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Seven Mile
The order below is a sensible way to approach a loan in Seven Mile:
- 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.