Personal loans in Clay City, IN

Personal loans in Clay City, Indiana are mostly unsecured, so the APR you see reflects how a lender reads your credit. Clay City is a small community, with roughly 886 residents and a size rank of 325th in Indiana. From the 2020 Census base to the 2023 estimate, the population rose by about 0.8%. A lender that serves Indiana operates under that state's lending statutes and its own supervisor. Judge offers on total cost, not on how quickly the money arrives. The closest larger place is Jasonville, IN about 9 miles away.

By the Personalloaner Editorial Team · Last updated 2026-09-16

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How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Borrowing in Clay City: the local picture

Two layers matter for a Clay City borrower: the local population picture and Indiana's consumer-lending statutes.

Population: an estimated 886 residents, 325th of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
Population trend: A gain of roughly 0.8% between 2020 and 2023.
Size percentile: about 42% of Indiana's Census places are smaller than it.
Location: latitude 39.2770, longitude -87.1127 (Census Gazetteer).
Nearest larger cities: Jasonville (9 mi); Worthington (13 mi); Farmersburg (14 mi); Shelburn (17 mi); Linton (17 mi). Living near a larger metro rarely changes what is available in Clay City.
Nearest smaller towns: Center Point (10 mi); Hymera (12 mi); Riley (13 mi).

What Indiana law requires in Clay City

This table holds the Indiana rate and licensing rules for consumer loans made in Clay City.

Rule	Detail	Source
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
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

What a Clay City personal loan looks like

When you apply for a personal loan in Clay City, most lenders start with pre-qualification, which uses a soft credit pull and leaves your score alone. The quoted APR tracks your credit score: an excellent file may earn a single-digit rate, while damaged credit can push the rate into the high twenties or thirties. No advertised example rate is a quote for your own situation.

A pre-application checklist for Clay City

A sensible order of operations for a loan in Clay City:

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 Indiana licence by checking the regulator named above.
Check that the monthly payment fits your budget next to your existing obligations.

Compare personal loan offers Run the numbers first

Common questions

What are my options in Clay City 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 Clay City is the same as anywhere in Indiana.

What loan size can I expect in Clay City?

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 Clay City?

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 Clay City 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

Center Point, IN — population 212
Jasonville, IN — population 2,008
Worthington, IN — population 1,406
Hymera, IN — population 659
Riley, IN — population 237
Staunton, IN — population 470
Linton, IN — population 5,194
Brazil, IN — population 8,214