Sharpsville at a glance
- Population: the Census estimates 543 residents, ranking 401st of 565 places in Indiana (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 554 (US Census Bureau).
- 2020 to 2023 change: population fell about 2.0% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Indiana places: 401st of 565 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 29% of the places in Indiana (US Census Bureau).
- Coordinates: it sits at 40.3797, -86.0869 in the US Census Bureau Gazetteer.
- Nearest larger cities: Kokomo, IN (6 mi); Windfall City, IN (7 mi); Tipton, IN (7 mi); Greentown, IN (9 mi); Russiaville, IN (10 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: Kempton, IN (10 mi); Michigantown, IN (16 mi); Amboy, IN (18 mi) (US Census Bureau estimates).
What a personal loan costs in Sharpsville
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Sharpsville
The sourced rows below are the rules a licensed lender must follow when lending in Indiana, and therefore in Sharpsville.
| 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 Sharpsville
The steps below are worth completing first when you borrow in Sharpsville:
- 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.