Bement at a glance
- Population: a Census-estimated 1,468, placing it 543rd among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,485 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 1.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 543rd of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 58% of Illinois's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 39.9230, -88.5724.
- Nearest larger cities (within 120 miles): Monticello, IL (8 mi); Arthur, IL (15 mi); Tolono, IL (17 mi); Tuscola, IL (18 mi); Mount Zion, IL (19 mi) (US Census Bureau populations).
- Nearest smaller communities: Ivesdale, IL (6 mi); Hammond, IL (8 mi); Cerro Gordo, IL (9 mi) (Census populations).
What a personal loan costs in Bement
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Bement
The table lists the Illinois rules that apply to a loan made in Bement, each with the regulator that published it.
| 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 Bement
Here is a short checklist for comparing personal loans in Bement:
- 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.