Clifton at a glance
- Population: the Census estimates 1,304 residents, ranking 579th of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 1,357 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.9% since the 2020 count (US Census Bureau).
- Rank among Illinois places: the 579th-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 55% of the places in Illinois (US Census Bureau).
- Coordinates: mapped at 40.9347, -87.9343 by the US Census Bureau Gazetteer.
- Nearest larger cities: Herscher, IL (12 mi); Kankakee, IL (12 mi); Gilman, IL (13 mi); Limestone, IL (15 mi); Watseka, IL (15 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Ashkum, IL (4 mi); Chebanse, IL (5 mi); Sammons Point, IL (8 mi) (Census populations).
What a personal loan costs in Clifton
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Illinois lending rules that apply in Clifton
Read the table as the compliance picture for a lender serving Clifton: label, sourced figure, publisher and date.
| 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 Clifton
Here is a short checklist for comparing personal loans in Clifton:
- 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.