Mount Zion at a glance
- Population: roughly 5,878 people; 301st of 1,294 places in Illinois (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 6,022 (US Census Bureau).
- 2020 to 2023 change: about 2.4% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 301st by size among 1,294 communities (US Census Bureau).
- Size percentile: roughly 77% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: it sits at 39.7840, -88.8850 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Decatur, IL (6 mi); Monticello, IL (24 mi); Clinton, IL (25 mi); Taylorville, IL (27 mi); Mattoon, IL (35 mi) (US Census Bureau).
- Nearest smaller places: Long Creek, IL (2 mi); Dalton City, IL (6 mi); Macon, IL (8 mi) (US Census Bureau estimates).
What a personal loan costs in Mount Zion
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Illinois lending rules that apply in Mount Zion
The Illinois rate caps and licensing rules that reach Mount Zion are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mount Zion
The steps below are worth completing first when you borrow in Mount Zion:
- 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.