Alvan (Alvin) at a glance
- Population: 226 — 1,074th in Illinois, which has 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 236 (US Census Bureau).
- 2020 to 2023 change: down roughly 4.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 1,074th out of 1,294 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 17% of Illinois's Census places by population (US Census Bureau).
- Coordinates: it sits at 40.3070, -87.6069 in the US Census Bureau Gazetteer.
- Nearest larger cities: Bismarck, IL (3 mi); Rossville, IL (6 mi); Potomac, IL (10 mi); Hoopeston, IL (11 mi); Danville, IL (11 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Henning, IL (5 mi); State Line City, IN (9 mi); Wellington, IL (17 mi) — US Census Bureau populations.
What a personal loan costs in Alvan (Alvin)
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
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 useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Illinois lending rules that apply in Alvan (Alvin)
Read the table as the compliance picture for a lender serving Alvan (Alvin): label, sourced figure, publisher and 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 Alvan (Alvin)
Before you commit to a personal loan in Alvan (Alvin), work through these steps:
- 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.