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The offers that appear on are from companies from which receives compensation. This compensation may impact how and where (including the order in which) offers are presented to consumers. does not make loan offers but instead pairs potential borrowers with lenders and lending partners. We are not a lender, do not make credit decisions, broker loans, or make short-term cash loans. We also do not charge fees to potential borrowers for our services and do not represent or endorse any particular participating lender or lending partner, service, or product. Submitting a request allows us to refer you to third-party lenders and lending partners and does not constitute approval for a loan. What you may be presented is not inclusive of all lenders/loan products and not all lenders will be able to make you an offer for a loan.

Personal Loans in New York Online

Learn about New York. Financial products for good and bad credit. Please note this is a learning resource only. New York residents are not able to request funding through our site.

For those who are searching for installment loans in the Empire State, you can request funding for up to $35,000 using the short form below. Getting started is as simple as entering your first name, last name, and a valid email address. Click the “Get Started” button, and we will try to find you a loan company.

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Some short-term loans are paid back in one lump sum. In contrast, a borrower will pay back an installment loan over time. In general, the loan’s monthly payments go toward the interest and the principal. APRs (annual percentage rates) vary from lender to lender. The APR you receive also depends on your situation. LoanStart’s offer APRs beginning at 4.84 percent.

New York Personal Loans

People in New York State who are searching for personal loans are looking to borrow money for several reasons. Some of these are outlined below.

  • Credit card debt - The average credit card debt in New York is near $4,000. Taking out a personal loan to pay off credit card debt can be a smart choice. If a person can find a lower interest loan, they could save themselves money by spending less on interest.
  • Vehicles - Car problems are a major reason people in New York are borrowing money. The average cost of a major car repair in New York is over $3,000. Faced with a repair bill this large, few New York State residents can afford to get their car fixed without a personal loan.
  • Medical costs - Healthcare and insurance costs are a major expense for New York residents. According to the Kaiser Family Foundation, the average monthly cost of personal health insurance in New York is $428.54 per person. In addition, a medical emergency could result in thousands of dollars of medical bills leading some people to seek out personal loans.
  • Home repairs and improvements - Faced with some of the nation’s highest housing costs, New York residents who live in older and outdated homes may not be able to afford a newer home. Many of these may choose to renovate and update their homes by taking out a personal loan.

For many financial needs in New York State, personal loans can be an option for short-term issues.

New York State Economy

New York has the fourth largest population in the US with almost 20 million people who call the Empire State their home. The state of New York also has the third largest economy in the nation, behind only California and Texas.

Anchored by New York City’s financial sector, the state of New York is one of America’s economic powerhouses. The Big Apple is home to the New York Stock Exchange and the NASDAQ, the world’s two largest financial trading markets.

Tourism is a large component of the state’s economy. The state of New York attracts millions of visitors annually to Niagara Falls and New York City. In 2015, New York City alone drew over 55 million visitors who generated in over $45 billion.

In addition, New York is one of the top five agricultural states and is the nation’s second biggest wine producer.

New York has one of the highest costs of living in the nation, including high housing costs. In New York State, the average cost to purchase a home is over half a million dollars. The average monthly rent in New York State varies greatly. In New York City, a modest apartment could cost as much as $4,000 per month. However, in towns like Albany, rent could be as low as $600 to $700 per month.


Consumers who are planning to take out an installment loan may discover that some may not be reputable. To help determine whether a loan offer is a scam, here are some things to be aware of:

  • Unclear fees and terms - who are unwilling to disclose their terms fully or who present confusing or unclear fees may not be reputable.
  • Loans offered by phone or email - Being solicited by a lender by phone or email may indicate a loan scam.
  • Upfront fees - A potential lender may ask for a fee of a few hundred dollars to process your loan. However, charging an advance fee for a loan is illegal in New York.

Things to Consider Before Borrowing

Taking out an installment loan is a good option for those who need funds. However, before applying for a loan, be sure to educate yourself on issues regarding personal loans and consumer finance. Visit the Consumer section of the New York Department of Financial Services to learn more.

Also, be sure that you meet the age, residency, employment, and income requirements before applying. Lastly, understand that signing a loan agreement makes you fully responsible for repaying the principal along with all interest and fees. Failing to repay your loan can result in serious financial consequences.