Gainesville at a glance
- Population: about 224, 584th by size in New York of 595 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 228 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.8% lower than the 2020 Census base (US Census Bureau).
- Rank among New York places: 584th out of 595 Census places (US Census Bureau).
- Size percentile: ahead of around 2% of New York places in population terms (US Census Bureau).
- Coordinates: latitude 42.6416, longitude -78.1346 (US Census Bureau Gazetteer).
- Nearest larger cities: Silver Springs, NY (3 mi); Castile, NY (4 mi); Warsaw, NY (7 mi); Perry, NY (8 mi); Nunda, NY (11 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Oswayo, PA (50 mi); Roseville, PA (81 mi); Bear Lake, PA (83 mi), each a US Census place.
What a personal loan costs in Gainesville
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New York lending rules that apply in Gainesville
The table carries the New York rate and licensing rules that apply to consumer loans made in Gainesville.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Gainesville
Here is a short checklist for comparing personal loans in Gainesville:
- 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.