Elverson at a glance
- Population: roughly 1,391 people; 519th of 1,013 places in Pennsylvania (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,331 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: an increase of about 4.5% since the 2020 count (US Census Bureau).
- Rank among Pennsylvania places: 519th of 1,013 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 49% of places in Pennsylvania rank below it by population (US Census Bureau).
- Coordinates: 40.1537, -75.8308 (US Census Bureau Gazetteer).
- Nearest larger cities: Honey Brook, PA (6 mi); Birdsboro, PA (8 mi); Coatesville, PA (12 mi); Pottstown, PA (12 mi); St. Lawrence, PA (12 mi), each a US Census place with its estimated population.
- Nearest smaller communities: New Morgan, PA (4 mi); Terre Hill, PA (12 mi); Modena, PA (13 mi) (Census populations).
What a personal loan costs in Elverson
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Pennsylvania lending rules that apply in Elverson
The sourced rows below are the rules a licensed lender must follow when lending in Pennsylvania, and therefore in Elverson.
| 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 Elverson
Here is a short checklist for comparing personal loans in Elverson:
- 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.