Somerdale at a glance
- Population: 5,567 people, the 185th-largest place among New Jersey's 323 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 5,561 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 0.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: the 185th-largest of 323 (US Census Bureau, 2023 estimate).
- Size percentile: about 43% of New Jersey's Census places are smaller (US Census Bureau).
- Coordinates: 39.8454 latitude, -75.0217 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Stratford, NJ (1 mi); Barrington, NJ (2 mi); Lindenwold, NJ (2 mi); Runnemede, NJ (3 mi); Haddon Heights, NJ (3 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Hi-Nella, NJ (1 mi); Magnolia, NJ (1 mi); Lawnside, NJ (2 mi) (Census populations).
What a personal loan costs in Somerdale
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
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.
New Jersey lending rules that apply in Somerdale
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Somerdale
Before you commit to a personal loan in Somerdale, work through these steps:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.