Ellis Grove at a glance
- Population: 325, the 981st-largest community in Illinois out of 1,294 (US Census Bureau, Vintage 2023).
- 2020 Census base: 327 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 0.6% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 981st of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 24% of the places in Illinois (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.0102, -89.9126.
- Nearest larger cities: Evansville, IL (6 mi); Chester, IL (7 mi); Ste. Genevieve, MO (8 mi); Prairie du Rocher, IL (11 mi); Sparta, IL (13 mi); US Census Bureau population estimates.
- Nearest smaller places: Kaskaskia, IL (6 mi); Ruma, IL (10 mi); St. Mary, MO (10 mi) (US Census Bureau estimates).
What a personal loan costs in Ellis Grove
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Ellis Grove
The Illinois rate caps and licensing rules that reach Ellis Grove are listed below, each with its source and retrieval date.
| 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 Ellis Grove
The steps below are worth completing first when you borrow in Ellis Grove:
- 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.