Boonton at a glance
- Population: about 8,821, 130th by size in New Jersey of 323 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 8,812 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: up about 0.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: 130th-largest of 323 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: ahead of around 60% of New Jersey places in population terms (US Census Bureau).
- Coordinates: 40.9038, -74.4064 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Lincoln Park, NJ (6 mi); Kinnelon, NJ (6 mi); Dover, NJ (8 mi); Caldwell, NJ (8 mi); Morristown, NJ (8 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Mountain Lakes, NJ (2 mi); Morris Plains, NJ (6 mi); Rockaway, NJ (6 mi) (US Census Bureau).
What a personal loan costs in Boonton
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
New Jersey lending rules that apply in Boonton
The New Jersey rate caps and licensing rules that reach Boonton are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Boonton
A few practical steps will make the process in Boonton 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 New Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.