Sloan at a glance
- Population: roughly 3,725 people; 203rd of 595 places in New York (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 3,776 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 1.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among New York places: 203rd in population of 595 places (US Census Bureau).
- Size percentile: larger than about 66% of the Census places in New York (US Census Bureau).
- Coordinates: mapped at 42.8922, -78.7915 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Buffalo, NY (3 mi); Depew, NY (5 mi); Williamsville, NY (5 mi); Lackawanna, NY (6 mi); Lancaster, NY (6 mi) (US Census Bureau).
- Nearest smaller communities: Blasdell, NY (7 mi); Orchard Park, NY (9 mi); Alden, NY (15 mi) (Census populations).
What a personal loan costs in Sloan
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
New York lending rules that apply in Sloan
The table carries the New York rate and licensing rules that apply to consumer loans made in Sloan.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Sloan
The steps below are worth completing first when you borrow in Sloan:
- 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.