Winona Lake at a glance
- Population: the Census estimates 5,099 residents, ranking 125th of 565 places in Indiana (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 5,059 residents here (US Census Bureau).
- 2020 to 2023 change: up roughly 0.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: the 125th-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 78% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: 41.2171, -85.8131 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Warsaw, IN (3 mi); North Manchester, IN (15 mi); Columbia City, IN (18 mi); Nappanee, IN (18 mi); Rochester, IN (23 mi) (US Census Bureau populations).
- Nearest smaller towns: Pierceton, IN (6 mi); Claypool, IN (7 mi); Leesburg, IN (8 mi) (US Census Bureau).
What a personal loan costs in Winona Lake
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Indiana lending rules that apply in Winona Lake
The table lists the Indiana rules that apply to a loan made in Winona Lake, each with the regulator that published it.
| 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 Winona Lake
Before you share your details with a lender in Winona Lake:
- 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.