Freeburg at a glance
- Population: 4,501 — 350th in Illinois, which has 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 4,590 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a decline of roughly 1.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Illinois places: the 350th-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 73% of Illinois's places have fewer residents (US Census Bureau).
- Coordinates: 38.4391, -89.9162 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Belleville, IL (7 mi); Shiloh, IL (8 mi); Mascoutah, IL (8 mi); Swansea, IL (9 mi); O'Fallon, IL (11 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Smithton, IL (4 mi); Fayetteville, IL (8 mi); New Athens, IL (9 mi) (US Census Bureau).
What a personal loan costs in Freeburg
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Freeburg
The Illinois rate caps and licensing rules that reach Freeburg 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 Freeburg
The order below is a sensible way to approach a loan in Freeburg:
- 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.