Roscoe at a glance
- Population: 10,843, the 210th-largest community in Illinois out of 1,294 (US Census Bureau, Vintage 2023).
- 2020 Census base: 10,974 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 1.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Illinois places: 210th largest of 1,294 (US Census Bureau).
- Size percentile: roughly 84% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: latitude 42.4256, longitude -89.0095 (US Census Bureau Gazetteer).
- Nearest larger cities: Machesney Park, IL (4 mi); Loves Park, IL (6 mi); Beloit, WI (7 mi); Rockford, IL (12 mi); Belvidere, IL (13 mi), each a US Census place with its estimated population.
- Smaller places close by: Rockton, IL (3 mi); South Beloit, IL (4 mi); Caledonia, IL (7 mi) (US Census Bureau).
What a personal loan costs in Roscoe
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Illinois lending rules that apply in Roscoe
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Roscoe.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Roscoe
The steps below are worth completing first when you borrow in Roscoe:
- 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.