Brooklyn at a glance
- Population: 626 (US Census Bureau, Vintage 2023 subcounty estimate), the 785th-largest of 1,294 places in Illinois.
- 2020 Census base: 651 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 3.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 785th of the state's 1,294 Census places (US Census Bureau).
- Size percentile: ahead of around 39% of Illinois places in population terms (US Census Bureau).
- Coordinates: latitude 38.6542, longitude -90.1679 (US Census Bureau Gazetteer).
- Nearest larger cities: Venice, IL (1 mi); East St. Louis, IL (3 mi); Fairmont City, IL (4 mi); Madison, IL (4 mi); St. Louis, MO (4 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Sauget, IL (5 mi); Uplands Park, MO (7 mi); Beverly Hills, MO (7 mi) — US Census Bureau populations.
What a personal loan costs in Brooklyn
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Illinois lending rules that apply in Brooklyn
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Brooklyn
The steps below are worth completing first when you borrow in Brooklyn:
- 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.