Mardela Springs at a glance
- Population: the Census estimates 354 residents, ranking 132nd of 157 places in Maryland (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 356 (US Census Bureau).
- 2020 to 2023 change: roughly 0.6% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: the 132nd-largest of 157 (US Census Bureau, 2023 estimate).
- Size percentile: about 16% of places in Maryland are smaller (US Census Bureau).
- Coordinates: mapped at 38.4576, -75.7555 by the US Census Bureau Gazetteer.
- Nearest larger cities: Hebron, MD (4 mi); Sharptown, MD (6 mi); Delmar, MD (11 mi); Salisbury, MD (11 mi); Delmar, DE (11 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Vienna, MD (4 mi); Galestown, MD (8 mi); Brookview, MD (8 mi) — US Census Bureau populations.
What a personal loan costs in Mardela Springs
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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.
Maryland lending rules that apply in Mardela Springs
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mardela Springs
The steps below are worth completing first when you borrow in Mardela Springs:
- 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.