Joy at a glance
- Population: 364 residents, the 957th-largest of 1,294 places in Illinois (US Census Bureau, Vintage 2023).
- 2020 Census base: 371 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 1.9% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 957th out of 1,294 Census places (US Census Bureau).
- Size percentile: larger than about 26% of the Census places in Illinois (US Census Bureau).
- Coordinates: 41.1969, -90.8788 (US Census Bureau Gazetteer).
- Nearest larger cities: New Boston, IL (7 mi); Aledo, IL (7 mi); Keithsburg, IL (7 mi); Reynolds, IL (14 mi); Matherville, IL (15 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Seaton, IL (8 mi); Oakville, IA (11 mi); Little York, IL (15 mi) (US Census Bureau).
What a personal loan costs in Joy
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Illinois lending rules that apply in Joy
Read the table as the compliance picture for a lender serving Joy: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Joy
These steps are the ones that most affect the offer you receive in Joy:
- 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.