Princess Anne at a glance
- Population: 3,534 residents, the 58th-largest of 157 places in Maryland (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,441 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 2.7% higher than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: 58th out of 157 Census places (US Census Bureau).
- Size percentile: about 63% of places in Maryland are smaller (US Census Bureau).
- Coordinates: mapped at 38.2051, -75.6964 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Fruitland, MD (9 mi); Pocomoke City, MD (12 mi); Salisbury, MD (13 mi); Delmar, MD (18 mi); Laurel, DE (26 mi) (US Census Bureau).
- Nearest smaller towns: Hebron, MD (15 mi); Snow Hill, MD (17 mi); Mardela Springs, MD (18 mi) (US Census Bureau).
What a personal loan costs in Princess Anne
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Maryland lending rules that apply in Princess Anne
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Princess Anne
The steps below are worth completing first when you borrow in Princess Anne:
- 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.