La Plata at a glance
- Population: about 10,878 residents, ranking 22nd of 157 Census places in Maryland (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 10,167 residents here (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 7.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Maryland places: 22nd of 157 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 86% of Maryland's Census places by population (US Census Bureau).
- Coordinates: latitude 38.5435, longitude -76.9698 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Alexandria, VA (20 mi); Washington, DC (25 mi); Falls Church, VA (26 mi); Fairfax, VA (28 mi); Hyattsville, MD (29 mi) (US Census Bureau).
- Nearest smaller communities: Port Tobacco Village, MD (3 mi); Indian Head, MD (11 mi); Eagle Harbor, MD (15 mi), each a US Census place.
What a personal loan costs in La Plata
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Maryland lending rules that apply in La Plata
The Maryland rate caps and licensing rules that reach La Plata are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in La Plata
A few practical steps will make the process in La Plata less costly:
- 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.