Sharptown at a glance
- Population: the Census estimates 698 residents, ranking 111th of 157 places in Maryland (Vintage 2023).
- 2020 Census base: 692 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 0.9% growth over the 2020 Census base (US Census Bureau).
- Rank among Maryland places: 111th-largest of 157 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 29% of places in Maryland are smaller (US Census Bureau).
- Coordinates: 38.5382, -75.7190 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Hebron, MD (8 mi); Laurel, DE (8 mi); Blades, DE (9 mi); Seaford, DE (10 mi); Hurlock, MD (10 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Galestown, MD (2 mi); Brookview, MD (5 mi); Eldorado, MD (5 mi) (US Census Bureau).
What a personal loan costs in Sharptown
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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.
Maryland lending rules that apply in Sharptown
The table lists the Maryland rules that apply to a loan made in Sharptown, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Sharptown
Run through this list before signing anything in Sharptown:
- 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.