Monroe at a glance
- Population: about 9,477 residents, ranking 96th of 595 Census places in New York (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 9,498 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 0.2% below the 2020 Census base (US Census Bureau).
- Rank among New York places: 96th by size among 595 communities (US Census Bureau).
- Size percentile: roughly 84% of places in New York rank below it by population (US Census Bureau).
- Coordinates: latitude 41.3177, longitude -74.1857 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Kiryas Joel, NY (2 mi); Woodbury, NY (4 mi); West Haverstraw, NY (13 mi); Peekskill, NY (14 mi); Suffern, NY (14 mi) (US Census Bureau).
- Nearest smaller communities: Harriman, NY (2 mi); South Blooming Grove, NY (4 mi); Tuxedo, NY (5 mi) (Census populations).
What a personal loan costs in Monroe
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
New York lending rules that apply in Monroe
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 |
|---|---|---|
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
How to compare offers in Monroe
Here is a short checklist for comparing personal loans in Monroe:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.