Severn at a glance
- Population: about 182 residents, ranking 507th of 549 Census places in North Carolina (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 192 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down about 5.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among North Carolina places: 507th by size among 549 communities (US Census Bureau).
- Size percentile: larger than about 8% of the Census places in North Carolina (US Census Bureau).
- Coordinates: latitude 36.5142, longitude -77.1893 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Boykins, VA (4 mi); Conway, NC (6 mi); Murfreesboro, NC (7 mi); Newsoms, VA (9 mi); Woodland, NC (13 mi) (US Census Bureau populations).
- Nearest smaller communities: Branchville, VA (5 mi); Como, NC (11 mi); Lasker, NC (13 mi), each a US Census place.
What a personal loan costs in Severn
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment 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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
North Carolina lending rules that apply in Severn
The table lists the North Carolina rules that apply to a loan made in Severn, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
How to compare offers in Severn
Here is a short checklist for comparing personal loans in Severn:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.