Personalloaner

Personal loans in Colfax, IN

A 2020-to-2023 comparison shows Colfax down by about 0.9%. With an estimated 698 residents, Colfax is the 358th-largest of 565 places in Indiana. Colfax, Indiana — home to about 698 people — is a small community, so the terms you are offered follow Indiana law rather than any local rule. Rate-shopping from Colfax costs nothing at pre-qualification, where a soft pull leaves your credit file alone. For the 698 people in Colfax, Indiana runs its own consumer-lending licensing, and the sourced table below lists the figures that apply. Borrowers who want a bigger city can look to Thorntown, IN about 5 miles away.

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

Compare loan offers Run the numbers first

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 Colfax: the local picture

The figures below are Colfax's own — Census population, land area and coordinates — followed by the Indiana rules.

Land, water and location for Colfax

Colfax covers about 0.4 square miles of land (Census Gazetteer); no significant water area is recorded inside its boundaries. The resulting density is about 1,886 people per square mile. Fort Wayne, the largest place in Indiana, is about 101 miles from Colfax. Counting outward 50 miles, 87 larger communities surround Colfax. The 100-mile radius contains 305 larger places.

How a Colfax personal loan is priced

In Colfax, a small community of about 698, the amount is advanced up front and repaid in fixed installments; the city's size does not change the pricing. The rate you see advertised is a range, not a promise, until a lender reviews your file in Colfax. The term you choose in Colfax decides the split between a comfortable payment and the total interest you pay.

Indiana consumer-lending rules applied in Colfax

The rows below set out what a licensed lender must follow in Indiana, and so for Colfax's roughly 698 residents.

RuleDetailSource
State lending regulatorIndiana 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
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 statusPermitted 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

Colfax in state context

Among Indiana's 565 places, Colfax sits at 358th for population, a share of roughly 0.0% of the state. On the 2020-to-2023 trend, Colfax stands 417th among Indiana's 565 places — roughly the 26th percentile. At about 1,886 people per square mile, Colfax is the 112th most densely settled place in Indiana. By land area, its 0.4 square miles rank 426th of 565 places in Indiana.

A pre-application checklist for Colfax

Complete these steps first when you borrow in Colfax (698 residents):

  1. Check all three credit reports for mistakes, because an error you fix now is a lower rate later.
  2. Use the loan calculator to test the payment on your intended amount and term.
  3. Line up several pre-qualified offers and let the APR decide.
  4. Verify the lender's Indiana licence with the regulator listed on this page.
  5. Do not borrow more than the expense calls for, even if a lender approves a larger amount.
  6. Decide the purpose and how you will repay it before approaching any lender.
  7. If the balances are already a strain, seek nonprofit credit counselling before adding a loan.

What differs between Colfax and the rest of Indiana is not the process but the borrower's own file, among the 698 people here.

Compare personal loan offers Run the numbers first

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.

Common questions

What are my options in Colfax 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 Colfax is the same as anywhere in Indiana.
What loan size can I expect in Colfax?
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 Colfax?
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 Colfax 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

Related