Clayton at a glance
- Population: about 1,701, 332nd by size in New York of 595 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,741 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: roughly 2.3% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: 332nd-largest of 595 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 44% of New York's Census places by population (US Census Bureau).
- Coordinates: 44.2375, -76.0827 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Watertown, NY (20 mi); West Carthage, NY (29 mi); Carthage, NY (30 mi); Gouverneur, NY (31 mi); Lowville, NY (43 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Alexandria Bay, NY (10 mi); Chaumont, NY (12 mi); Theresa, NY (14 mi) (US Census Bureau).
What a personal loan costs in Clayton
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Clayton
Read the table as the compliance picture for a lender serving Clayton: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clayton
Before you share your details with a lender in Clayton:
- 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.