Personal loans in Caledonia, OH
When you compare personal loans in Caledonia, Ohio, the figure to hold side by side is the APR, not the advertised rate. About 550 people live in Caledonia, placing it 645th of 924 Census places in Ohio. Caledonia lost roughly 1.3% of its population across the 2020-to-2023 comparison. State law, not city hall, decides what a lender may do in Ohio, and a state regulator supervises it; the source is named below. Use the calculator on this page to price an amount and term before you commit. The next larger city is Marion, OH about 9 miles away.
Borrowing in Caledonia: the local picture
Set out below is Caledonia's local context next to the state-level rules that reach every lender here.
- Population: 550 residents; Caledonia is the 645th-largest of 924 places in Ohio (US Census Bureau, Vintage 2023).
- Population trend: A drop of about 1.3% from 2020 to 2023.
- Size percentile: about 30% of Ohio communities are smaller.
- Location: latitude 40.6364, longitude -82.9695 (Census Gazetteer).
- Nearest larger cities: Marion (9 mi); Mount Gilead (9 mi); Cardington (10 mi); Bucyrus (12 mi); Galion (12 mi). Any of them may have more branches, but statewide rules and your credit still set the price.
- Smaller communities close by: Edison (8 mi); North Robinson (12 mi); Morral (13 mi), each with its own Census population profile.
What Ohio law requires in Caledonia
Below are the Ohio rules that reach a loan made in Caledonia, each with the regulator that issued it.
| 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 |
What a Caledonia personal loan looks like
Two numbers drive a Caledonia personal loan: the APR, which includes fees, and the term, which decides how long you keep paying. Only when you accept an offer and finish a full application does the lender run a hard inquiry, which may cost a few points for a short time. No advertised example rate is a quote for your own situation.
A pre-application checklist for Caledonia
Before you hand your details to a lender in Caledonia:
- Order your free credit reports and dispute anything inaccurate — it is the cheapest way to move the rate you are offered.
- Price the payment first with our personal loan calculator before any lender quotes you.
- Pre-qualify with three or more lenders, then compare the APR rather than the interest rate.
- Confirm the lender holds a Ohio licence by checking the regulator named above.
- Do not borrow more than the expense calls for, even if a lender approves a larger amount.
Common questions
What are my options in Caledonia if my credit is poor?
Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Caledonia is the same as anywhere in Ohio.
What loan size can I expect in Caledonia?
Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.
Do I have to pledge anything to borrow in Caledonia?
For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.
Does comparing loans in Caledonia cost me credit score points?
Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.
Nearby places
- Edison, OH — population 441
- Cardington, OH — population 2,101
- Marion, OH — population 35,531
- Mount Gilead, OH — population 3,533
- Bucyrus, OH — population 11,542
- North Robinson, OH — population 217
- Waldo, OH — population 316
- Galion, OH — population 10,293