Sharon Springs at a glance
- Population: 498 (US Census Bureau, Vintage 2023 subcounty estimate), the 521st-largest of 595 places in New York.
- 2020 Census base: 501 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 0.6% since the 2020 count (US Census Bureau).
- Rank among New York places: 521st out of 595 Census places (US Census Bureau).
- Size percentile: about 12% of places in New York are smaller (US Census Bureau).
- Coordinates: 42.7930 latitude, -74.6128 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Canajoharie, NY (8 mi); Palatine Bridge, NY (9 mi); Nelliston, NY (10 mi); Fort Plain, NY (10 mi); Cobleskill, NY (10 mi) (US Census Bureau).
- Nearest smaller towns: Ames, NY (3 mi); Cherry Valley, NY (7 mi); Esperance, NY (18 mi) (US Census Bureau).
What a personal loan costs in Sharon Springs
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
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 York lending rules that apply in Sharon Springs
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
How to compare offers in Sharon Springs
The order below is a sensible way to approach a loan in Sharon Springs:
- 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 York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.