Belmont at a glance
- Population: 837 — 452nd in New York, which has 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 854 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 2.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New York places: 452nd-largest of 595 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 24% of New York's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 42.2201, -78.0308.
- Nearest larger cities (120-mile radius): Wellsville, NY (8 mi); Cuba, NY (13 mi); Alfred, NY (13 mi); Bolivar, NY (13 mi); Andover, NY (13 mi) (US Census Bureau).
- Nearest smaller towns: Angelica, NY (6 mi); Richburg, NY (11 mi); Almond, NY (16 mi) — US Census Bureau populations.
What a personal loan costs in Belmont
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.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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 Belmont
The table lists the New York rules that apply to a loan made in Belmont, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Belmont
The steps below are worth completing first when you borrow in Belmont:
- 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.