Franklin Lakes at a glance
- Population: 11,021 (US Census Bureau, Vintage 2023 subcounty estimate), the 98th-largest of 323 places in New Jersey.
- 2020 Census base: the 2020 Census recorded 11,080 residents here (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 0.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: 98th of the state's 323 Census places (US Census Bureau).
- Size percentile: about 70% of places in New Jersey are smaller (US Census Bureau).
- Coordinates: 41.0075 latitude, -74.2057 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Oakland, NJ (2 mi); Hawthorne, NJ (4 mi); Ramsey, NJ (5 mi); Wanaque, NJ (5 mi); Ridgewood, NJ (5 mi) (US Census Bureau populations).
- Nearest smaller communities: North Haledon, NJ (3 mi); Midland Park, NJ (3 mi); Allendale, NJ (4 mi) (Census populations).
What a personal loan costs in Franklin Lakes
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
New Jersey lending rules that apply in Franklin Lakes
Read the table as the compliance picture for a lender serving Franklin Lakes: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Franklin Lakes
Run through this list before signing anything in Franklin Lakes:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.