Cambridge at a glance
- Population: a Census-estimated 13,176, placing it 21st among Maryland's 157 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 13,095 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 0.6% since the 2020 count (US Census Bureau).
- Rank among Maryland places: 21st out of 157 Census places (US Census Bureau).
- Size percentile: it is larger than about 87% of the places in Maryland (US Census Bureau).
- Coordinates: it sits at 38.5541, -76.0771 in the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Easton, MD (15 mi); Salisbury, MD (29 mi); Annapolis, MD (37 mi); Milford, DE (43 mi); Bowie, MD (45 mi) (US Census Bureau).
- Nearest smaller towns: Church Creek, MD (5 mi); Trappe, MD (8 mi); Secretary, MD (8 mi) (US Census Bureau).
What a personal loan costs in Cambridge
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Maryland lending rules that apply in Cambridge
The Maryland rate caps and licensing rules that reach Cambridge are listed below, each with its source and retrieval date.
| 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 Cambridge
A few practical steps will make the process in Cambridge 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.