Wayland at a glance
- Population: 1,705 — 331st in New York, which has 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 1,749 (US Census Bureau).
- 2020 to 2023 change: a loss of about 2.5% since the 2020 count (US Census Bureau).
- Rank among New York places: 331st out of 595 Census places (US Census Bureau).
- Size percentile: about 44% of New York's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 42.5628, -77.5959 in the US Census Bureau Gazetteer.
- Nearest larger cities: Dansville, NY (5 mi); Hornell, NY (16 mi); Mount Morris, NY (18 mi); Geneseo, NY (20 mi); Canisteo, NY (20 mi); US Census Bureau population estimates.
- Smaller places close by: Cohocton, NY (7 mi); Naples, NY (11 mi); Canaseraga, NY (12 mi) (US Census Bureau).
What a personal loan costs in Wayland
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New York lending rules that apply in Wayland
The table lists the New York rules that apply to a loan made in Wayland, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Wayland
A few practical steps will make the process in Wayland less costly:
- 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.