Canton at a glance
- Population: 7,064 people, the 129th-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 7,238 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 2.4% since the 2020 count (US Census Bureau).
- Rank among New York places: 129th of 595 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 78% of New York's places have fewer residents (US Census Bureau).
- Coordinates: 44.6000, -75.1666 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Potsdam, NY (10 mi); Ogdensburg, NY (16 mi); Massena, NY (26 mi); Watertown, NY (57 mi); Plattsburgh, NY (84 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Rensselaer Falls, NY (8 mi); Heuvelton, NY (12 mi); Norwood, NY (13 mi), each a US Census place.
What a personal loan costs in Canton
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
New York lending rules that apply in Canton
The New York rate caps and licensing rules that reach Canton 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 Canton
Before you share your details with a lender in Canton:
- 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.