Cambridge at a glance
- Population: 1,796 — 318th in New York, which has 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,809 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.7% since the 2020 count (US Census Bureau).
- Rank among New York places: 318th by size among 595 communities (US Census Bureau).
- Size percentile: about 47% of New York's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 43.0280, -73.3813 by the US Census Bureau Gazetteer.
- Nearest larger cities: Hoosick Falls, NY (9 mi); Mechanicville, NY (18 mi); Fort Edward, NY (19 mi); Saratoga Springs, NY (20 mi); Hudson Falls, NY (22 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Greenwich, NY (7 mi); North Bennington, VT (10 mi); Schuylerville, NY (11 mi) (US Census Bureau).
What a personal loan costs in Cambridge
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Cambridge
Each row below is a New York rule with its publisher and the date it was retrieved.
| 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 Cambridge
The steps below are worth completing first when you borrow in Cambridge:
- 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.