West Farmington at a glance
- Population: 532 — 655th in Ohio, which has 924 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 539 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 1.3% lower than the 2020 Census base (US Census Bureau).
- Rank among Ohio places: 655th in population of 924 places (US Census Bureau).
- Size percentile: about 29% of Ohio's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 41.3910, -80.9740 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Middlefield, OH (7 mi); Garrettsville, OH (10 mi); Hiram, OH (10 mi); Burton, OH (11 mi); Windham, OH (11 mi) (US Census Bureau).
- Smaller towns nearby: Aquilla, OH (15 mi); Yankee Lake, OH (23 mi); Sugar Bush Knolls, OH (23 mi) (US Census Bureau).
What a personal loan costs in West Farmington
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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.
Ohio lending rules that apply in West Farmington
The sourced rows below are the rules a licensed lender must follow when lending in Ohio, and therefore in West Farmington.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount. Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403). | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance licenses required for non-depository lenders, including Consumer Installment Loan Act lenders, General Loan Law lenders, short-term lenders, and small loan lenders. Source says: "We issue and manage licenses for companies and individuals under multiple Ohio statutes." (page's regulated-statutes list names Consumer Installment Loan Act lenders, General Loan Law lenders, Short-term lenders, Small loan lenders). | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| State lending regulator | Ohio Department of Commerce, Division of Financial Institutions (Consumer Finance Section). Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses." | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages). Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network] | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
How to compare offers in West Farmington
The order below is a sensible way to approach a loan in West Farmington:
- 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.