Long Point at a glance
- Population: 200 (US Census Bureau, Vintage 2023 subcounty estimate), the 1,106th-largest of 1,294 places in Illinois.
- 2020 Census base: 203 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.5% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 1,106th-largest of 1,294 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 15% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: 41.0053, -88.8930 (US Census Bureau Gazetteer).
- Nearest larger cities: Rutland, IL (8 mi); Cornell, IL (9 mi); Wenona, IL (9 mi); Streator, IL (9 mi); Flanagan, IL (9 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Dana, IL (4 mi); Leonore, IL (14 mi); Panola, IL (17 mi) (US Census Bureau).
What a personal loan costs in Long Point
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Illinois lending rules that apply in Long Point
The sourced rows below are the rules a licensed lender must follow when lending in Illinois, and therefore in Long Point.
| 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 Long Point
Before you share your details with a lender in Long Point:
- 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.