Butler at a glance
- Population: 164 — 1,152nd in Illinois, which has 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 166 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 1,152nd out of 1,294 Census places (US Census Bureau).
- Size percentile: ahead of around 11% of Illinois places in population terms (US Census Bureau).
- Coordinates: 39.1975 / -89.5322, per the US Census Bureau Gazetteer.
- Nearest larger cities: Hillsboro, IL (4 mi); Schram City, IL (4 mi); Taylor Springs, IL (5 mi); Irving, IL (7 mi); Litchfield, IL (7 mi); US Census Bureau population estimates.
- Smaller places nearby: Walshville, IL (10 mi); Donnellson, IL (12 mi); Eagarville, IL (15 mi), per US Census Bureau estimates.
What a personal loan costs in Butler
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Illinois lending rules that apply in Butler
The Illinois rate caps and licensing rules that reach Butler are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Butler
Run through this list before signing anything in Butler:
- 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.