Switz City at a glance
- Population: roughly 266 people; 476th of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 264 (US Census Bureau).
- 2020 to 2023 change: roughly 0.8% higher than at the 2020 Census (US Census Bureau).
- Rank among Indiana places: 476th-largest of 565 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 16% of Indiana's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 39.0349, -87.0540 by the US Census Bureau Gazetteer.
- Nearest larger cities: Lyons, IN (4 mi); Linton, IN (6 mi); Bloomfield, IN (6 mi); Worthington, IN (7 mi); Elnora, IN (11 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Newberry, IN (8 mi); Crane, IN (13 mi); Cannelburg, IN (26 mi) (US Census Bureau).
What a personal loan costs in Switz City
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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 term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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.
Indiana lending rules that apply in Switz City
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Switz City
These steps are the ones that most affect the offer you receive in Switz City:
- 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.