Colp at a glance
- Population: about 175 residents, ranking 1,133rd of 1,294 Census places in Illinois (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 178 (US Census Bureau).
- 2020 to 2023 change: down about 1.7% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 1,133rd out of 1,294 Census places (US Census Bureau).
- Size percentile: roughly 12% of Illinois's places have fewer residents (US Census Bureau).
- Coordinates: 37.8073, -89.0785 (US Census Bureau Gazetteer).
- Nearest larger cities: Herrin, IL (3 mi); Cambria, IL (3 mi); Carterville, IL (3 mi); Bush, IL (4 mi); Crainville, IL (4 mi), each a US Census place with its estimated population.
- Nearest smaller places: St. Johns, IL (18 mi); Gorham, IL (23 mi); New Burnside, IL (23 mi) (US Census Bureau estimates).
What a personal loan costs in Colp
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Illinois lending rules that apply in Colp
The sourced rows below are the rules a licensed lender must follow when lending in Illinois, and therefore in Colp.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Colp
Here is a short checklist for comparing personal loans in Colp:
- 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.