Lake Placid at a glance
- Population: 2,275 (US Census Bureau, Vintage 2023 subcounty estimate), the 277th-largest of 595 places in New York.
- 2020 Census base: the 2020 Census recorded 2,274 residents here (US Census Bureau).
- 2020 to 2023 change: little measurable change between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New York places: 277th out of 595 Census places (US Census Bureau).
- Size percentile: roughly 53% of places in New York rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.2842, -73.9864.
- Nearest larger cities: Saranac Lake, NY (8 mi); Tupper Lake, NY (24 mi); Dannemora, NY (33 mi); Vergennes, VT (37 mi); Plattsburgh, NY (38 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Burke, NY (44 mi); Chateaugay, NY (45 mi); Brushton, NY (46 mi), per US Census Bureau estimates.
What a personal loan costs in Lake Placid
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Lake Placid
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lake Placid
Run through this list before signing anything in Lake Placid:
- 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.