Niagara Falls at a glance
- Population: 47,599, the 14th-largest community in New York out of 595 (US Census Bureau, Vintage 2023).
- 2020 Census base: 48,671 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 2.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New York places: 14th by size among 595 communities (US Census Bureau).
- Size percentile: ahead of around 98% of New York places in population terms (US Census Bureau).
- Coordinates: mapped at 43.0928, -79.0147 by the US Census Bureau Gazetteer.
- Nearest larger cities: Buffalo, NY (16 mi); Rochester, NY (71 mi); Erie, PA (86 mi) — straight-line distances, US Census Bureau populations.
- Smaller places nearby: Lewiston, NY (6 mi); North Tonawanda, NY (8 mi); Tonawanda, NY (9 mi), per US Census Bureau estimates.
What a personal loan costs in Niagara Falls
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.
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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
New York lending rules that apply in Niagara Falls
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 Niagara Falls
The order below is a sensible way to approach a loan in Niagara Falls:
- 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.