Fairfield at a glance
- Population: 4,738 residents, the 337th-largest of 1,294 places in Illinois (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 4,880 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.9% lower than the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 337th of the state's 1,294 Census places (US Census Bureau).
- Size percentile: it is larger than about 74% of the places in Illinois (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.3806, -88.3725.
- Nearest larger cities: Olney, IL (29 mi); Mount Vernon, IL (30 mi); Mount Carmel, IL (33 mi); Salem, IL (36 mi); Benton, IL (39 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Jeffersonville, IL (5 mi); Sims, IL (9 mi); Mill Shoals, IL (9 mi) — US Census Bureau populations.
What a personal loan costs in Fairfield
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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 Fairfield
The sourced rows below are the rules a licensed lender must follow when lending in Illinois, and therefore in Fairfield.
| 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 Fairfield
Before you share your details with a lender in Fairfield:
- 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.