Canaseraga at a glance
- Population: 458 people, the 531st-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 466 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 1.7% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: 531st by size among 595 communities (US Census Bureau).
- Size percentile: about 11% of New York's Census places are smaller (US Census Bureau).
- Coordinates: 42.4618 latitude, -77.7773 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Arkport, NY (6 mi); Dansville, NY (8 mi); North Hornell, NY (10 mi); Hornell, NY (11 mi); Nunda, NY (12 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Almond, NY (10 mi); Gainesville, NY (22 mi); Leicester, NY (22 mi) (Census populations).
What a personal loan costs in Canaseraga
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Canaseraga
The New York rate caps and licensing rules that reach Canaseraga are listed below, each with its source and retrieval date.
| 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 Canaseraga
A few practical steps will make the process in Canaseraga 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.