Berlin at a glance
- Population: the Census estimates 143 residents, ranking 1,178th of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 144 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: down roughly 0.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 1,178th largest of 1,294 (US Census Bureau).
- Size percentile: it is larger than about 9% of the places in Illinois (US Census Bureau).
- Coordinates: 39.7569 latitude, -89.9024 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: New Berlin, IL (2 mi); Loami, IL (6 mi); Curran, IL (7 mi); Pleasant Plains, IL (8 mi); Ashland, IL (11 mi); US Census Bureau population estimates.
- Nearest smaller communities: Cantrall, IL (17 mi); Scottville, IL (22 mi); Lynnville, IL (24 mi), each a US Census place.
What a personal loan costs in Berlin
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Illinois lending rules that apply in Berlin
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| 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 Berlin
Before you commit to a personal loan in Berlin, 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.