Matteson at a glance
- Population: a Census-estimated 18,293, placing it 136th among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 19,071 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 4.1% lower than the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 136th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 89% of Illinois's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 41.5089, -87.7460 by the US Census Bureau Gazetteer.
- Nearest larger cities: Park Forest, IL (4 mi); Tinley Park, IL (5 mi); Homewood, IL (6 mi); Chicago Heights, IL (6 mi); Frankfort, IL (6 mi); US Census Bureau population estimates.
- Smaller places nearby: Richton Park, IL (2 mi); Olympia Fields, IL (3 mi); Flossmoor, IL (4 mi), per US Census Bureau estimates.
What a personal loan costs in Matteson
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Illinois lending rules that apply in Matteson
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| 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 Matteson
Here is a short checklist for comparing personal loans in Matteson:
- 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.