East Alton at a glance
- Population: 5,639 — 312th in Illinois, which has 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 5,781 (US Census Bureau).
- 2020 to 2023 change: a loss of about 2.5% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 312th by size among 1,294 communities (US Census Bureau).
- Size percentile: about 76% of Illinois's Census places are smaller (US Census Bureau).
- Coordinates: 38.8841 latitude, -90.1079 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Wood River, IL (2 mi); Alton, IL (3 mi); Bethalto, IL (4 mi); Godfrey, IL (8 mi); Edwardsville, IL (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Hartford, IL (5 mi); West Alton, MO (5 mi); Roxana, IL (5 mi) (US Census Bureau).
What a personal loan costs in East Alton
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 East Alton
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| 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 East Alton
The order below is a sensible way to approach a loan in East Alton:
- 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.