Millstadt at a glance
- Population: about 3,943 residents, ranking 371st of 1,294 Census places in Illinois (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 4,074 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 3.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 371st by size among 1,294 communities (US Census Bureau).
- Size percentile: it is larger than about 71% of the places in Illinois (US Census Bureau).
- Coordinates: mapped at 38.4575, -90.0859 by the US Census Bureau Gazetteer.
- Nearest larger cities: Belleville, IL (7 mi); Columbia, IL (7 mi); Swansea, IL (8 mi); Cahokia Heights, IL (9 mi); Waterloo, IL (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Smithton, IL (6 mi); Dupo, IL (8 mi); Sauget, IL (10 mi), each a US Census place.
What a personal loan costs in Millstadt
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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 Millstadt
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 |
|---|---|---|
| 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 Millstadt
The order below is a sensible way to approach a loan in Millstadt:
- 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.