McSherrystown at a glance
- Population: about 3,128 residents, ranking 307th of 1,013 Census places in Pennsylvania (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 3,079 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 1.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Pennsylvania places: 307th out of 1,013 Census places (US Census Bureau).
- Size percentile: ahead of around 70% of Pennsylvania places in population terms (US Census Bureau).
- Coordinates: 39.8035 / -77.0199, per the US Census Bureau Gazetteer.
- Nearest larger cities: Hanover, PA (2 mi); Littlestown, PA (5 mi); Gettysburg, PA (12 mi); Manchester, MD (13 mi); Taneytown, MD (13 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: New Oxford, PA (5 mi); Abbottstown, PA (6 mi); Bonneauville, PA (6 mi) — US Census Bureau populations.
What a personal loan costs in McSherrystown
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Pennsylvania lending rules that apply in McSherrystown
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 |
|---|---|---|
| State lending regulator | Pennsylvania Department of Banking and Securities (DoBS) Source says: "The Department of Banking and Securities regulates financial services in Pennsylvania." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Bank rate-cap exemption (state-specific rule) | Pennsylvania state-chartered banks are not subject to state interest-rate caps (Banking Code Sections 303/506 supersede the LIPL 6% cap). Source says: "Pennsylvania law does not impose any restrictions on the interest rate that Pennsylvania state-chartered banks may charge to customers." (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per annum maximum for loans of $50,000 or less where no lower rate is contracted (41 P.S. 201(a)). Source says: "the maximum lawful rate of interest for the loan or use of money... shall be six per cent per annum" (Loan Interest and Protection Law, Section 201(a)). | Pennsylvania General Assembly (Laws of Pennsylvania, Act 6 of 1974) as of 2026-09-16 |
| Payday lending status | No separate payday-lending license; non-bank lenders are limited to 6% (unlicensed) or up to 24% (CDCA-licensed), so high-cost payday loans are not permitted. Source says: "if a lender is licensed by the Department in accord with the CDCA, it can charge between 6-24% on loans under $25,000" (DoBS interpretive letter, May 11, 2023). | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Discount Company Act license required for non-mortgage consumer loans above 6%; licensed lenders may charge up to 24% on loans of $25,000 or less. Source says: "A consumer discount company is a business corporation that negotiates or makes non-mortgage loans or advances of money on credit." | Pennsylvania Department of Banking and Securities as of 2026-09-16 |
How to compare offers in McSherrystown
These steps are the ones that most affect the offer you receive in McSherrystown:
- 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 Pennsylvania using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.