Thorntown at a glance
- Population: roughly 1,416 people; 251st of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,431 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down about 1.0% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Indiana places: the 251st-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 56% of the places in Indiana (US Census Bureau).
- Coordinates: 40.1292, -86.6100 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Lebanon, IN (11 mi); Frankfort, IN (11 mi); Crawfordsville, IN (16 mi); Whitestown, IN (17 mi); Zionsville, IN (18 mi); US Census Bureau population estimates.
- Nearest smaller towns: Colfax, IN (5 mi); Ulen, IN (9 mi); Darlington, IN (9 mi) (US Census Bureau).
What a personal loan costs in Thorntown
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Thorntown
The Indiana rate caps and licensing rules that reach Thorntown are listed below, each with its source and retrieval date.
| 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 Thorntown
Here is a short checklist for comparing personal loans in Thorntown:
- 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.