Mulberry Grove at a glance
- Population: a Census-estimated 504, placing it 861st among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 521 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 3.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 861st of the state's 1,294 Census places (US Census Bureau).
- Size percentile: about 33% of places in Illinois are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.9253, -89.2619.
- Nearest larger cities (120-mile radius): Greenville, IL (7 mi); Vandalia, IL (9 mi); Coffeen, IL (13 mi); Patoka, IL (15 mi); Pocahontas, IL (16 mi) (US Census Bureau).
- Nearest smaller towns: Smithboro, IL (5 mi); Keyesport, IL (12 mi); Vernon, IL (13 mi) (US Census Bureau).
What a personal loan costs in Mulberry Grove
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Illinois lending rules that apply in Mulberry Grove
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mulberry Grove
The order below is a sensible way to approach a loan in Mulberry Grove:
- 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.