Pawtucket at a glance
- Population: 75,321, the 4th-largest community in Rhode Island out of 8 (US Census Bureau, Vintage 2023).
- 2020 Census base: 75,608 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.4% since the 2020 count (US Census Bureau).
- Rank among Rhode Island places: 4th largest of 8 (US Census Bureau).
- Size percentile: it exceeds roughly 50% of Rhode Island's Census places by population (US Census Bureau).
- Coordinates: 41.8748 latitude, -71.3733 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Providence, RI (4 mi); Cranston, RI (9 mi); Warwick, RI (12 mi); Fall River, MA (18 mi); Brockton, MA (23 mi) (US Census Bureau).
- Nearest smaller communities: Central Falls, RI (1 mi); East Providence, RI (5 mi); Attleboro, MA (6 mi) (Census populations).
What a personal loan costs in Pawtucket
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Rhode Island lending rules that apply in Pawtucket
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 | Legal for licensed check cashers: deferred deposits max $500, minimum 13-day term, fee limited to 10% of funds advanced; fee provision sunsets January 1, 2027. Source says: "The face amount of the check shall not exceed five hundred dollars ($500)" (19-14.4-5.1); "Charge deferred deposit transaction fees in excess of ten percent (10%) of the amount of funds advanced" (19-14.4-4(4)). | Rhode Island General Assembly (R.I. General Laws) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for making/funding loans or acting as a small loan lender; small loans (under $5,000, non-real-estate) regulated under R.I. Gen. Laws ch. 19-14.2. Source says: "Making or funding loans or acting as a lender or small loan lender... without first obtaining a license" (R.I. Gen. Laws 19-14-2(a)). | Rhode Island General Assembly (R.I. General Laws) as of 2026-09-16 |
| State lending regulator | Rhode Island Department of Business Regulation (DBR) - Division of Banking Source says: "any rule or regulation promulgated by the department of business regulation pertaining to check cashers" (R.I. Gen. Laws 19-14.4-3); DBR's own site returned HTTP 403 to automated requests. | Rhode Island General Assembly (R.I. General Laws 19-14.4-3) as of 2026-09-16 |
| Commercial loan rate exemption (state-specific rule) | No interest-rate limit on commercial loans exceeding $1,000,000 not secured by the borrower's principal residence. Source says: "there is no limitation on the rate of interest that may be legally charged" and "where the amount of money loaned exceeds the sum of one million dollars ($1,000,000)" (R.I. Gen. Laws 6-26-2(e)). | Rhode Island General Assembly (R.I. General Laws) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Loans may not exceed the greater of 21% per annum or the alternate rate (prime + 9 points); no cap for commercial loans over $1,000,000. Source says: "charge, or take interest on a loan... at a rate that shall exceed the greater of twenty-one percent (21%) per annum or the alternate rate" (R.I. Gen. Laws 6-26-2(a)). | Rhode Island General Assembly (R.I. General Laws) as of 2026-09-16 |
How to compare offers in Pawtucket
These steps are the ones that most affect the offer you receive in Pawtucket:
- 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 Rhode Island using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.