Stonington at a glance
- Population: 994 residents, the 26th-largest of 29 places in Connecticut (US Census Bureau, Vintage 2023).
- 2020 Census base: 992 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up about 0.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Connecticut places: 26th of the state's 29 Census places (US Census Bureau).
- Size percentile: ahead of around 10% of Connecticut places in population terms (US Census Bureau).
- Coordinates: mapped at 41.3348, -71.8995 by the US Census Bureau Gazetteer.
- Nearest larger cities: Groton, CT (9 mi); New London, CT (10 mi); Norwich, CT (18 mi); Jewett City, CT (19 mi); Greenport, NY (29 mi); US Census Bureau population estimates.
- Smaller places close by: Groton Long Point, CT (6 mi); Fenwick, CT (24 mi); Dering Harbor, NY (28 mi) (US Census Bureau).
What a personal loan costs in Stonington
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Connecticut lending rules that apply in Stonington
The table lists the Connecticut rules that apply to a loan made in Stonington, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Small loan license required for loans of $50,000 or less with an APR greater than 12% (Small Loan Lending and Related Activities Act, C.G.S. §§ 36a-555 to 36a-573) Source says: "Without having first obtained a small loan license from the commissioner pursuant to section 36a-565, no person shall". | Connecticut General Assembly — C.G.S. § 36a-556 (2026 Supplement) as of 2026-09-16 |
| State lending regulator | Connecticut Department of Banking Source says: "The Department of Banking considers payday loan companies as unlicensed small loan lenders". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan APR caps (§ 36a-558(d)) | Loans under $5,000: lesser of 36% APR or the Military Lending Act rate cap; loans $5,000–$50,000: 25% APR Source says: "an APR that exceeds the lesser of thirty-six per cent"; "an APR that exceeds twenty-five per cent". | Connecticut General Assembly — C.G.S. § 36a-558(d) (2026 Supplement) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum (consumer loans; statutory exceptions apply, e.g., banks, credit unions, small loan licensees) Source says: "charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum". | Connecticut General Assembly — C.G.S. § 37-4 as of 2026-09-16 |
| Payday lending status | Not permitted — payday loans (small loans at more than 12% APR) are void and unenforceable unless made by exempt persons; licensed small loan companies may charge up to 36% APR Source says: "Connecticut Banking Law considers such loans as void and unenforceable"; "Small Loan licensees can charge up to 36% annual percentage rate (APR)". | Connecticut Department of Banking as of 2026-09-16 |
How to compare offers in Stonington
The order below is a sensible way to approach a loan in Stonington:
- 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 Connecticut using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.