Elizabeth at a glance
- Population: 135,829 residents, the 4th-largest of 323 places in New Jersey (US Census Bureau, Vintage 2023).
- 2020 Census base: 137,312 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 1.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New Jersey places: 4th largest of 323 (US Census Bureau).
- Size percentile: it exceeds roughly 99% of New Jersey's Census places by population (US Census Bureau).
- Coordinates: 40.6664 / -74.1935, per the US Census Bureau Gazetteer.
- Nearest larger cities: Newark, NJ (4 mi); Jersey City, NJ (7 mi); New York, NY (13 mi); Paterson, NJ (17 mi); Yonkers, NY (26 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Linden, NJ (4 mi); Roselle, NJ (4 mi); Roselle Park, NJ (4 mi) (Census populations).
What a personal loan costs in Elizabeth
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New Jersey lending rules that apply in Elizabeth
Each row below is a New Jersey rule with its publisher and the date it was retrieved.
| 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 Elizabeth
These steps are the ones that most affect the offer you receive in Elizabeth:
- 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.