New Square at a glance
- Population: the Census estimates 9,824 residents, ranking 92nd of 595 places in New York (Vintage 2023).
- 2020 Census base: 9,684 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 1.4% more residents than the 2020 Census base (US Census Bureau).
- Rank among New York places: 92nd of the state's 595 Census places (US Census Bureau).
- Size percentile: about 85% of places in New York are smaller (US Census Bureau).
- Coordinates: 41.1410, -74.0294 (US Census Bureau Gazetteer).
- Nearest larger cities: Spring Valley, NY (2 mi); Chestnut Ridge, NY (4 mi); Airmont, NY (5 mi); West Haverstraw, NY (5 mi); Haverstraw, NY (5 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: New Hempstead, NY (1 mi); Kaser, NY (2 mi); Wesley Hills, NY (3 mi), per US Census Bureau estimates.
What a personal loan costs in New Square
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
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 New Square
The New York rate caps and licensing rules that reach New Square are listed below, each with its source and retrieval 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 New Square
Run through this list before signing anything in New Square:
- 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.