Westfield at a glance
- Population: 2,920, the 242nd-largest community in New York out of 595 (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,994 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 2.5% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: the 242nd-largest of 595 (US Census Bureau, 2023 estimate).
- Size percentile: about 59% of New York's Census places are smaller (US Census Bureau).
- Coordinates: 42.3218, -79.5748 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Fredonia, NY (15 mi); North East, PA (15 mi); Dunkirk, NY (17 mi); Lakewood, NY (20 mi); Jamestown, NY (23 mi) (US Census Bureau populations).
- Smaller places nearby: Mayville, NY (6 mi); Brocton, NY (8 mi); Sherman, NY (11 mi), per US Census Bureau estimates.
What a personal loan costs in Westfield
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
New York lending rules that apply in Westfield
The sourced rows below are the rules a licensed lender must follow when lending in New York, and therefore in Westfield.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Westfield
These steps are the ones that most affect the offer you receive in Westfield:
- 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.