Scales Mound at a glance
- Population: roughly 426 people; 916th of 1,294 places in Illinois (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 433 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 1.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Illinois places: 916th largest of 1,294 (US Census Bureau).
- Size percentile: roughly 29% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 42.4748, -90.2526.
- Nearest larger cities: Shullsburg, WI (7 mi); Benton, WI (9 mi); Galena, IL (10 mi); Hazel Green, WI (10 mi); Elizabeth, IL (11 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: Apple River, IL (8 mi); Gratiot, WI (14 mi); Menominee, IL (15 mi) (US Census Bureau estimates).
What a personal loan costs in Scales Mound
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Illinois lending rules that apply in Scales Mound
The sourced rows below are the rules a licensed lender must follow when lending in Illinois, and therefore in Scales Mound.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Scales Mound
The order below is a sensible way to approach a loan in Scales Mound:
- 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.