Passaic at a glance
- Population: 68,903, the 10th-largest community in New Jersey out of 323 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 70,535 residents here (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 2.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: 10th-largest of 323 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 97% of New Jersey's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.8576, -74.1291.
- Nearest larger cities: Clifton, NJ (2 mi); Paterson, NJ (4 mi); East Orange, NJ (8 mi); Newark, NJ (9 mi); Jersey City, NJ (11 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Wallington, NJ (1 mi); Garfield, NJ (2 mi); Wood-Ridge, NJ (2 mi) (US Census Bureau).
What a personal loan costs in Passaic
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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.
New Jersey lending rules that apply in Passaic
Each row below is a New Jersey rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Passaic
The steps below are worth completing first when you borrow in Passaic:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.