Betterton at a glance
- Population: 283 people, the 137th-largest place among Maryland's 157 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 286 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 1.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Maryland places: the 137th-largest of 157 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 13% of Maryland's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 39.3671, -76.0725.
- Nearest larger cities: Chestertown, MD (10 mi); Galena, MD (10 mi); Cecilton, MD (11 mi); Aberdeen, MD (12 mi); Havre de Grace, MD (13 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Barclay, MD (19 mi); Templeville, MD (23 mi); Hartly, DE (24 mi), per US Census Bureau estimates.
What a personal loan costs in Betterton
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Maryland lending rules that apply in Betterton
The table lists the Maryland rules that apply to a loan made in Betterton, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Betterton
Before you share your details with a lender in Betterton:
- 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.