Mazon at a glance
- Population: about 980, 658th by size in Illinois of 1,294 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 981 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 0.1% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Illinois places: the 658th-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 49% of Illinois places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.2415, -88.4231.
- Nearest larger cities: Gardner, IL (7 mi); Coal City, IL (8 mi); Diamond, IL (9 mi); Morris, IL (10 mi); Dwight, IL (10 mi); US Census Bureau population estimates.
- Nearest smaller towns: Verona, IL (5 mi); Carbon Hill, IL (7 mi); Braceville, IL (8 mi) (US Census Bureau).
What a personal loan costs in Mazon
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Mazon
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mazon
A few practical steps will make the process in Mazon less costly:
- 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.