Somers Point at a glance
- Population: 10,465 — 105th in New Jersey, which has 323 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 10,475 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a loss of about 0.1% since the 2020 count (US Census Bureau).
- Rank among New Jersey places: 105th largest of 323 (US Census Bureau).
- Size percentile: about 67% of New Jersey's Census places are smaller (US Census Bureau).
- Coordinates: 39.3172 / -74.6064, per the US Census Bureau Gazetteer.
- Nearest larger cities: Ocean City, NJ (3 mi); Pleasantville, NJ (7 mi); Atlantic City, NJ (9 mi); Vineland, NJ (23 mi); Millville, NJ (24 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Linwood, NJ (3 mi); Longport, NJ (4 mi); Northfield, NJ (5 mi), each a US Census place.
What a personal loan costs in Somers Point
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New Jersey lending rules that apply in Somers Point
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Somers Point
The order below is a sensible way to approach a loan in Somers Point:
- 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.