Washington at a glance
- Population: 12,513, the 69th-largest community in Indiana out of 565 (US Census Bureau, Vintage 2023).
- 2020 Census base: 12,043 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 3.9% growth over the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 69th largest of 565 (US Census Bureau).
- Size percentile: it is larger than about 88% of the places in Indiana (US Census Bureau).
- Coordinates: it sits at 38.6582, -87.1604 in the US Census Bureau Gazetteer.
- Nearest larger cities: Vincennes, IN (19 mi); Jasper, IN (22 mi); Bedford, IN (39 mi); Bloomington, IN (49 mi); Evansville, IN (51 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Montgomery, IN (6 mi); Wheatland, IN (8 mi); Cannelburg, IN (9 mi) (US Census Bureau).
What a personal loan costs in Washington
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Indiana lending rules that apply in Washington
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Washington
Before you commit to a personal loan in Washington, work through these steps:
- 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.