Lexington at a glance
- Population: 2,074 residents, the 469th-largest of 1,294 places in Illinois (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 2,093 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.9% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 469th largest of 1,294 (US Census Bureau).
- Size percentile: it is larger than about 64% of the places in Illinois (US Census Bureau).
- Coordinates: mapped at 40.6470, -88.7841 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: El Paso, IL (14 mi); Normal, IL (14 mi); Bloomington, IL (15 mi); Fairbury, IL (16 mi); Pontiac, IL (18 mi) (US Census Bureau).
- Smaller places nearby: Chenoa, IL (7 mi); Cooksville, IL (8 mi); Gridley, IL (8 mi), per US Census Bureau estimates.
What a personal loan costs in Lexington
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Illinois lending rules that apply in Lexington
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lexington
The steps below are worth completing first when you borrow in Lexington:
- 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.