Eldred at a glance
- Population: 736, the 669th-largest community in Pennsylvania out of 1,013 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 767 (US Census Bureau).
- 2020 to 2023 change: about 4.0% lower than the 2020 Census base (US Census Bureau).
- Rank among Pennsylvania places: 669th of 1,013 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 34% of Pennsylvania's Census places are smaller (US Census Bureau).
- Coordinates: latitude 41.9568, longitude -78.3806 (US Census Bureau Gazetteer).
- Nearest larger cities: Portville, NY (6 mi); Olean, NY (9 mi); Shinglehouse, PA (10 mi); Smethport, PA (11 mi); Allegany, NY (11 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Richburg, NY (15 mi); Lewis Run, PA (15 mi); Oswayo, PA (19 mi), each a US Census place.
What a personal loan costs in Eldred
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Pennsylvania lending rules that apply in Eldred
The Pennsylvania rate caps and licensing rules that reach Eldred are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | No separate payday-lending license; non-bank lenders are limited to 6% (unlicensed) or up to 24% (CDCA-licensed), so high-cost payday loans are not permitted. Source says: "if a lender is licensed by the Department in accord with the CDCA, it can charge between 6-24% on loans under $25,000" (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Discount Company Act license required for non-mortgage consumer loans above 6%; licensed lenders may charge up to 24% on loans of $25,000 or less. Source says: "A consumer discount company is a business corporation that negotiates or makes non-mortgage loans or advances of money on credit." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| State lending regulator | Pennsylvania Department of Banking and Securities (DoBS) Source says: "The Department of Banking and Securities regulates financial services in Pennsylvania." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Bank rate-cap exemption (state-specific rule) | Pennsylvania state-chartered banks are not subject to state interest-rate caps (Banking Code Sections 303/506 supersede the LIPL 6% cap). Source says: "Pennsylvania law does not impose any restrictions on the interest rate that Pennsylvania state-chartered banks may charge to customers." (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per annum maximum for loans of $50,000 or less where no lower rate is contracted (41 P.S. 201(a)). Source says: "the maximum lawful rate of interest for the loan or use of money... shall be six per cent per annum" (Loan Interest and Protection Law, Section 201(a)). | Pennsylvania General Assembly (Laws of Pennsylvania, Act 6 of 1974) as of 2026-09-16 |
How to compare offers in Eldred
Before you share your details with a lender in Eldred:
- 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 Pennsylvania using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.