Universal at a glance
- Population: about 281 residents, ranking 467th of 565 Census places in Indiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 282 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 0.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: 467th-largest of 565 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 17% of the places in Indiana (US Census Bureau).
- Coordinates: 39.6225 latitude, -87.4553 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Clinton, IN (4 mi); Fairview Park, IN (5 mi); Rosedale, IN (9 mi); West Terre Haute, IN (11 mi); Terre Haute, IN (12 mi) (US Census Bureau populations).
- Smaller towns nearby: Vermilion, IL (8 mi); Mecca, IN (10 mi); Bloomingdale, IN (18 mi) (US Census Bureau).
What a personal loan costs in Universal
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Indiana lending rules that apply in Universal
The sourced rows below are the rules a licensed lender must follow when lending in Indiana, and therefore in Universal.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Universal
The steps below are worth completing first when you borrow in Universal:
- 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.