Spurgeon at a glance
- Population: the Census estimates 166 residents, ranking 519th of 565 places in Indiana (Vintage 2023).
- 2020 Census base: 168 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: 519th by size among 565 communities (US Census Bureau).
- Size percentile: it exceeds roughly 8% of Indiana's Census places by population (US Census Bureau).
- Coordinates: it sits at 38.2555, -87.2595 in the US Census Bureau Gazetteer.
- Nearest larger cities: Lynnville, IN (5 mi); Somerville, IN (7 mi); Oakland City, IN (7 mi); Winslow, IN (9 mi); Francisco, IN (12 mi); US Census Bureau population estimates.
- Smaller places close by: Mackey, IN (7 mi); Alfordsville, IN (27 mi); Griffin, IN (36 mi) (US Census Bureau).
What a personal loan costs in Spurgeon
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Spurgeon
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Spurgeon
The order below is a sensible way to approach a loan in Spurgeon:
- 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.