Federalsburg at a glance
- Population: 2,804 — 63rd in Maryland, which has 157 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,832 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 1.0% lower than the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 63rd largest of 157 (US Census Bureau).
- Size percentile: ahead of around 60% of Maryland places in population terms (US Census Bureau).
- Coordinates: it sits at 38.6923, -75.7725 in the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Seaford, DE (9 mi); Bridgeville, DE (9 mi); Denton, MD (13 mi); Laurel, DE (14 mi); Easton, MD (17 mi) (US Census Bureau).
- Smaller places nearby: Hurlock, MD (7 mi); Preston, MD (7 mi); Eldorado, MD (8 mi), per US Census Bureau estimates.
What a personal loan costs in Federalsburg
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.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Maryland lending rules that apply in Federalsburg
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
How to compare offers in Federalsburg
Before you commit to a personal loan in Federalsburg, work through these steps:
- 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.