Alton at a glance
- Population: a Census-estimated 25,006, placing it 88th among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 25,660 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 2.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 88th out of 1,294 Census places (US Census Bureau).
- Size percentile: roughly 93% of Illinois's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 38.9039, -90.1512 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Edwardsville, IL (12 mi); Florissant, MO (12 mi); Granite City, IL (12 mi); University City, MO (19 mi); St. Louis, MO (19 mi) (US Census Bureau populations).
- Nearest smaller towns: East Alton, IL (3 mi); West Alton, MO (4 mi); Wood River, IL (5 mi) (US Census Bureau).
What a personal loan costs in Alton
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Illinois lending rules that apply in Alton
Read the table as the compliance picture for a lender serving Alton: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Alton
Run through this list before signing anything in Alton:
- 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.