Arkport at a glance
- Population: roughly 771 people; 463rd of 595 places in New York (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 788 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 2.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New York places: 463rd by size among 595 communities (US Census Bureau).
- Size percentile: about 22% of places in New York are smaller (US Census Bureau).
- Coordinates: 42.3926 / -77.6955, per the US Census Bureau Gazetteer.
- Nearest larger cities: North Hornell, NY (4 mi); Hornell, NY (4 mi); Canisteo, NY (10 mi); Alfred, NY (11 mi); Dansville, NY (12 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Almond, NY (6 mi); Canaseraga, NY (6 mi); Cohocton, NY (12 mi) — US Census Bureau populations.
What a personal loan costs in Arkport
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
New York lending rules that apply in Arkport
The table lists the New York rules that apply to a loan made in Arkport, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Arkport
Run through this list before signing anything in Arkport:
- 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.