Cullom at a glance
- Population: 505 people, the 857th-largest place among Illinois's 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 516 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 2.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 857th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 34% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: 40.8784 latitude, -88.2698 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Piper City, IL (9 mi); Chatsworth, IL (11 mi); Forrest, IL (11 mi); Herscher, IL (15 mi); Danforth, IL (16 mi); each population is a US Census Bureau estimate.
- Smaller towns nearby: Kempton, IL (4 mi); Saunemin, IL (7 mi); Emington, IL (8 mi) (US Census Bureau).
What a personal loan costs in Cullom
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Illinois lending rules that apply in Cullom
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Cullom
The steps below are worth completing first when you borrow in Cullom:
- 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.