Sykesville at a glance
- Population: a Census-estimated 4,412, placing it 51st among Maryland's 157 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 4,316 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.2% growth over the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 51st in population of 157 places (US Census Bureau).
- Size percentile: it is larger than about 68% of the places in Maryland (US Census Bureau).
- Coordinates: 39.3721 / -76.9717, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Mount Airy, MD (10 mi); Westminster, MD (14 mi); Hampstead, MD (18 mi); Gaithersburg, MD (20 mi); Baltimore, MD (20 mi) (US Census Bureau).
- Nearest smaller communities: New Windsor, MD (14 mi); Brookeville, MD (14 mi); Laytonsville, MD (14 mi) (Census populations).
What a personal loan costs in Sykesville
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Maryland lending rules that apply in Sykesville
The table lists the Maryland rules that apply to a loan made in Sykesville, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
How to compare offers in Sykesville
Here is a short checklist for comparing personal loans in Sykesville:
- 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.