Frankfort at a glance
- Population: 2,289 — 276th in New York, which has 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,327 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population fell about 1.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among New York places: 276th by size among 595 communities (US Census Bureau).
- Size percentile: roughly 54% of places in New York rank below it by population (US Census Bureau).
- Coordinates: 43.0378, -75.0716 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Ilion, NY (2 mi); Mohawk, NY (4 mi); Herkimer, NY (4 mi); Utica, NY (9 mi); Little Falls, NY (11 mi) (US Census Bureau).
- Nearest smaller places: Middleville, NY (9 mi); Clayville, NY (10 mi); Newport, NY (11 mi) (US Census Bureau estimates).
What a personal loan costs in Frankfort
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New York lending rules that apply in Frankfort
The New York rate caps and licensing rules that reach Frankfort are listed below, each with its source and retrieval date.
| 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 Frankfort
Run through this list before signing anything in Frankfort:
- 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.