Flat Rock at a glance
- Population: the Census estimates 316 residents, ranking 989th of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 324 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 2.5% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 989th-largest of 1,294 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 24% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: it sits at 38.9037, -87.6734 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Palestine, IL (8 mi); Robinson, IL (8 mi); Lawrenceville, IL (12 mi); Oaktown, IN (13 mi); Bridgeport, IL (14 mi) (US Census Bureau).
- Nearest smaller communities: Russellville, IL (10 mi); Stoy, IL (11 mi); Merom, IN (12 mi) (Census populations).
What a personal loan costs in Flat Rock
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Illinois lending rules that apply in Flat Rock
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Flat Rock.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Flat Rock
These steps are the ones that most affect the offer you receive in Flat Rock:
- 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.