Beacon at a glance
- Population: 15,025 people, the 58th-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 14,380 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 4.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among New York places: 58th-largest of 595 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 90% of the places in New York (US Census Bureau).
- Coordinates: 41.5032, -73.9647 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Newburgh, NY (3 mi); Poughkeepsie, NY (13 mi); Peekskill, NY (15 mi); Kiryas Joel, NY (15 mi); Middletown, NY (24 mi) (US Census Bureau).
- Smaller places nearby: Fishkill, NY (4 mi); Nelsonville, NY (5 mi); Cornwall-on-Hudson, NY (5 mi), per US Census Bureau estimates.
What a personal loan costs in Beacon
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
New York lending rules that apply in Beacon
The table carries the New York rate and licensing rules that apply to consumer loans made in Beacon.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Beacon
Before you commit to a personal loan in Beacon, work through these steps:
- 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.