Shelton at a glance
- Population: about 42,144 residents, ranking 13th of 29 Census places in Connecticut (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 40,883 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a gain of roughly 3.1% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Connecticut places: 13th of the state's 29 Census places (US Census Bureau).
- Size percentile: about 55% of places in Connecticut are smaller (US Census Bureau).
- Coordinates: 41.3046 / -73.1392, per the US Census Bureau Gazetteer.
- Nearest larger cities: Bridgeport, CT (9 mi); West Haven, CT (9 mi); New Haven, CT (11 mi); Waterbury, CT (18 mi); Danbury, CT (19 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Derby, CT (3 mi); Ansonia, CT (5 mi); Woodmont, CT (9 mi) (US Census Bureau).
What a personal loan costs in Shelton
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Connecticut lending rules that apply in Shelton
The sourced rows below are the rules a licensed lender must follow when lending in Connecticut, and therefore in Shelton.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Not permitted — payday loans (small loans at more than 12% APR) are void and unenforceable unless made by exempt persons; licensed small loan companies may charge up to 36% APR Source says: "Connecticut Banking Law considers such loans as void and unenforceable"; "Small Loan licensees can charge up to 36% annual percentage rate (APR)". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required for loans of $50,000 or less with an APR greater than 12% (Small Loan Lending and Related Activities Act, C.G.S. §§ 36a-555 to 36a-573) Source says: "Without having first obtained a small loan license from the commissioner pursuant to section 36a-565, no person shall". | Connecticut General Assembly — C.G.S. § 36a-556 (2026 Supplement) as of 2026-09-16 |
| State lending regulator | Connecticut Department of Banking Source says: "The Department of Banking considers payday loan companies as unlicensed small loan lenders". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan APR caps (§ 36a-558(d)) | Loans under $5,000: lesser of 36% APR or the Military Lending Act rate cap; loans $5,000–$50,000: 25% APR Source says: "an APR that exceeds the lesser of thirty-six per cent"; "an APR that exceeds twenty-five per cent". | Connecticut General Assembly — C.G.S. § 36a-558(d) (2026 Supplement) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum (consumer loans; statutory exceptions apply, e.g., banks, credit unions, small loan licensees) Source says: "charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum". | Connecticut General Assembly — C.G.S. § 37-4 as of 2026-09-16 |
How to compare offers in Shelton
A few practical steps will make the process in Shelton less costly:
- 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 Connecticut using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.