Addison at a glance
- Population: 1,564 residents, the 350th-largest of 595 places in New York (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,608 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a decline of roughly 2.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New York places: 350th out of 595 Census places (US Census Bureau).
- Size percentile: about 41% of places in New York are smaller (US Census Bureau).
- Coordinates: 42.1063 / -77.2320, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Painted Post, NY (8 mi); Elkland, PA (9 mi); Corning, NY (9 mi); Bath, NY (16 mi); Elmira Heights, NY (21 mi) (US Census Bureau).
- Nearest smaller places: Riverside, NY (9 mi); Lawrenceville, PA (9 mi); South Corning, NY (10 mi) (US Census Bureau estimates).
What a personal loan costs in Addison
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
New York lending rules that apply in Addison
The table lists the New York rules that apply to a loan made in Addison, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Addison
A few practical steps will make the process in Addison less costly:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.