Middletown at a glance
- Population: 47,984 people, the 12th-largest place among Connecticut's 29 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 47,723 residents here (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 0.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Connecticut places: 12th out of 29 Census places (US Census Bureau).
- Size percentile: about 59% of places in Connecticut are smaller (US Census Bureau).
- Coordinates: 41.5486, -72.6568 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Meriden, CT (7 mi); New Britain, CT (11 mi); Hartford, CT (15 mi); Bristol, CT (17 mi); Waterbury, CT (20 mi) (US Census Bureau).
- Nearest smaller communities: Naugatuck, CT (21 mi); Fenwick, CT (25 mi); Ansonia, CT (26 mi) (Census populations).
What a personal loan costs in Middletown
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Connecticut lending rules that apply in Middletown
The table carries the Connecticut rate and licensing rules that apply to consumer loans made in Middletown.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Small loan license required for loans of $50,000 or less with an APR greater than 12% (Small Loan Lending and Related Activities Act, C.G.S. §§ 36a-555 to 36a-573) Source says: "Without having first obtained a small loan license from the commissioner pursuant to section 36a-565, no person shall". | Connecticut General Assembly — C.G.S. § 36a-556 (2026 Supplement) as of 2026-09-16 |
| State lending regulator | Connecticut Department of Banking Source says: "The Department of Banking considers payday loan companies as unlicensed small loan lenders". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan APR caps (§ 36a-558(d)) | Loans under $5,000: lesser of 36% APR or the Military Lending Act rate cap; loans $5,000–$50,000: 25% APR Source says: "an APR that exceeds the lesser of thirty-six per cent"; "an APR that exceeds twenty-five per cent". | Connecticut General Assembly — C.G.S. § 36a-558(d) (2026 Supplement) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum (consumer loans; statutory exceptions apply, e.g., banks, credit unions, small loan licensees) Source says: "charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum". | Connecticut General Assembly — C.G.S. § 37-4 as of 2026-09-16 |
| Payday lending status | Not permitted — payday loans (small loans at more than 12% APR) are void and unenforceable unless made by exempt persons; licensed small loan companies may charge up to 36% APR Source says: "Connecticut Banking Law considers such loans as void and unenforceable"; "Small Loan licensees can charge up to 36% annual percentage rate (APR)". | Connecticut Department of Banking as of 2026-09-16 |
How to compare offers in Middletown
Run through this list before signing anything in Middletown:
- 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 Connecticut using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.