Personal loans in Lima, OH
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Lima, OH.
The median household in Lima earns $46,240 a year, 35% below the Ohio median of $71,389. About 24% of residents live below the federal poverty line, and 54.4% of households rent their home.
Ohio law that applies in Lima
| Rate cap | Small Loan Act: 28% a year on the first $1,000 of the balance and 22% on any amount above $1,000. |
|---|---|
| License required | Yes. |
| Loan sizes covered | The Small Loan Act covers loans of $5,000 or less. |
Full rules with statute citations: Personal Loans in Ohio. Cities in Ohio cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Lima
Lenders that serve Lima typically ask for the following:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Lima
What Lima borrowers use it for
cover a short gap before payday
Emergencieshandle the unexpected the same week
Moving costsdeposits, trucks and first-week expenses
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in Lima
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Lima
18 FDIC-insured bank branches from 10 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| JPMorgan Chase Bank, National Association | 3 | 2665 Fort Amanda Rd, Lima 45804 |
| The Huntington National Bank | 2 | 631 W Market St, Lima 45801 |
| Fifth Third Bank, National Association | 2 | 225 N West St, Lima 45801 |
| WesBanco Bank, Inc. | 2 | 2600 Allentown Rd, Lima 45805 |
| The Citizens National Bank of Bluffton | 2 | 201 N Main St, Lima 45801 |
| The Union Bank Company | 2 | 3211 Elida Rd, Lima 45805 |
| The First National Bank of Pandora | 2 | 2580 N Eastown Rd, Lima 45807 |
| The State Bank and Trust Company | 1 | 930 W Market St, Lima 45805 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Lima
11 credit-union locations from 3 credit unions.
| Credit union | Location |
|---|---|
| Topmark | 2301 Allentown Rd, Lima 45805 |
| Superior Credit Union, Inc | 1205 E Kibby St, Lima 45804 |
| Nickel Steel | 1067 S Main St, Lima 45804 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Allen County · Payday Loans in Lima
Frequently asked questions
Can I get a personal loan with bad credit in Lima?
Possibly. Lenders in our network consider applicants with fair and bad credit across Ohio, including Lima. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Lima, OH?
Licensed lenders capped at 21%-28% a year depending on license; Consumer Installment Loan Act 25%.
How fast can I get a personal loan in Lima?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
How long does it take to get a personal loan in Lima?
With online lenders, the process is usually fast. Our form takes about 3 minutes, many lenders make a decision within minutes, and approved funds are often deposited by the next business day. Some lenders may ask for documents such as pay stubs, which can add a little time. Having your information ready before you start helps you get money sooner in Lima.
How do installment loans work in Lima?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Lima residents can see installment loan offers with our free 3-minute form.
How do I apply for a personal loan with bad credit in Lima?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Lima borrowers who qualify.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Do I need to visit a store in Lima?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.