Bolivar at a glance
- Population: 1,007 (US Census Bureau, Vintage 2023 subcounty estimate), the 414th-largest of 595 places in New York.
- 2020 Census base: the 2020 count put the population at 1,025 (US Census Bureau).
- 2020 to 2023 change: population fell about 1.8% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among New York places: 414th largest of 595 (US Census Bureau).
- Size percentile: it exceeds roughly 30% of New York's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 42.0684, -78.1662.
- Nearest larger cities: Shinglehouse, PA (7 mi); Cuba, NY (12 mi); Wellsville, NY (12 mi); Olean, NY (14 mi); Allegany, NY (17 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Richburg, NY (1 mi); Portville, NY (9 mi); Belmont, NY (13 mi) (US Census Bureau).
What a personal loan costs in Bolivar
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New York lending rules that apply in Bolivar
The sourced rows below are the rules a licensed lender must follow when lending in New York, and therefore in Bolivar.
| 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 Bolivar
These steps are the ones that most affect the offer you receive in Bolivar:
- 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.