Alto Pass at a glance
- Population: about 304, 1,004th by size in Illinois of 1,294 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 314 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 3.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Illinois places: 1,004th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 22% of the Census places in Illinois (US Census Bureau).
- Coordinates: mapped at 37.5737, -89.3195 by the US Census Bureau Gazetteer.
- Nearest larger cities: Cobden, IL (5 mi); Makanda, IL (6 mi); Jonesboro, IL (9 mi); Anna, IL (9 mi); Grand Tower, IL (11 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Gorham, IL (13 mi); Mill Creek, IL (16 mi); Frohna, MO (17 mi), per US Census Bureau estimates.
What a personal loan costs in Alto Pass
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Illinois lending rules that apply in Alto Pass
The Illinois rate caps and licensing rules that reach Alto Pass are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Installment lender net-worth requirement | $30,000 minimum positive net worth (plus $25,000 surety bond) Source says: "every applicant shall prove ... that the applicant has and will maintain a positive net worth of a minimum of $30,000". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 9% annual percentage rate (general written-contract interest cap) Source says: "it shall be lawful for the parties to stipulate or agree that an annual percentage rate of 9%, or any less sum". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license; capped at 36% annual percentage rate (payday loans) Source says: "shall not contract for or receive a charge exceeding a 36% annual percentage rate ... for a payday loan". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Installment Loan Act license required from the Director of Financial Institutions (loans above 9% APR) Source says: "No person ... shall engage in the business of making loans of money ... except ... after first obtaining a license from the Director of Financial Institutions". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| State lending regulator | Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions Source says: "DFI licenses, charters, and examines a wide variety of financial products and services including: Consumer and Sales Finance and Collection Agencies". | Illinois Department of Financial and Professional Regulation as of 2026-09-16 |
How to compare offers in Alto Pass
A few practical steps will make the process in Alto Pass 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 Illinois using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.