Galestown at a glance
- Population: 114 (US Census Bureau, Vintage 2023 subcounty estimate), the 150th-largest of 157 places in Maryland.
- 2020 Census base: the 2020 count put the population at 113 (US Census Bureau).
- 2020 to 2023 change: population rose about 0.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Maryland places: the 150th-largest of 157 (US Census Bureau, 2023 estimate).
- Size percentile: about 4% of Maryland's Census places are smaller (US Census Bureau).
- Coordinates: 38.5626 latitude, -75.7158 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Sharptown, MD (2 mi); Bethel, DE (5 mi); Mardela Springs, MD (8 mi); Laurel, DE (8 mi); Blades, DE (8 mi); US Census Bureau population estimates.
- Nearest smaller communities: Brookview, MD (4 mi); Eldorado, MD (4 mi); Farmington, DE (22 mi) (Census populations).
What a personal loan costs in Galestown
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Maryland lending rules that apply in Galestown
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
How to compare offers in Galestown
Here is a short checklist for comparing personal loans in Galestown:
- 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 Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.