Cold Spring at a glance
- Population: 1,993 people, the 305th-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,989 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 0.2% growth over the 2020 Census base (US Census Bureau).
- Rank among New York places: 305th largest of 595 (US Census Bureau).
- Size percentile: it is larger than about 49% of the places in New York (US Census Bureau).
- Coordinates: 41.4192, -73.9547 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Cornwall-on-Hudson, NY (3 mi); Highland Falls, NY (4 mi); Beacon, NY (6 mi); Newburgh, NY (7 mi); Fishkill, NY (9 mi) — straight-line distances, US Census Bureau populations.
- Smaller towns nearby: Nelsonville, NY (1 mi); Tuxedo Park, NY (20 mi); Hillburn, NY (23 mi) (US Census Bureau).
What a personal loan costs in Cold Spring
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
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.
New York lending rules that apply in Cold Spring
The table carries the New York rate and licensing rules that apply to consumer loans made in Cold Spring.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Cold Spring
A few practical steps will make the process in Cold Spring 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 York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.