Shawneetown at a glance
- Population: the Census estimates 994 residents, ranking 653rd of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 1,054 (US Census Bureau).
- 2020 to 2023 change: roughly 5.7% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Illinois places: 653rd out of 1,294 Census places (US Census Bureau).
- Size percentile: larger than about 50% of the Census places in Illinois (US Census Bureau).
- Coordinates: mapped at 37.7159, -88.1867 by the US Census Bureau Gazetteer.
- Nearest larger cities: Eldorado, IL (15 mi); Sturgis, KY (16 mi); Morganfield, KY (17 mi); Harrisburg, IL (20 mi); Norris City, IL (20 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Junction, IL (3 mi); Old Shawneetown, IL (3 mi); Ridgway, IL (7 mi) (US Census Bureau).
What a personal loan costs in Shawneetown
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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.
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 Shawneetown
The table lists the Illinois rules that apply to a loan made in Shawneetown, each with the regulator that published it.
| 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 Shawneetown
These steps are the ones that most affect the offer you receive in Shawneetown:
- 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.