North East at a glance
- Population: roughly 4,163 people; 54th of 157 places in Maryland (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 4,084 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population rose about 1.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Maryland places: 54th by size among 157 communities (US Census Bureau).
- Size percentile: roughly 66% of Maryland's places have fewer residents (US Census Bureau).
- Coordinates: 39.6080, -75.9417 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Elkton, MD (6 mi); Perryville, MD (7 mi); Havre de Grace, MD (10 mi); Newark, DE (11 mi); Oxford, PA (12 mi) (US Census Bureau).
- Nearest smaller towns: Charlestown, MD (3 mi); Port Deposit, MD (8 mi); Chesapeake City, MD (9 mi) (US Census Bureau).
What a personal loan costs in North East
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 North East
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 | 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 North East
The steps below are worth completing first when you borrow in North East:
- 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.