St. Elmo at a glance
- Population: a Census-estimated 1,245, placing it 589th among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,268 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.8% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 589th in population of 1,294 places (US Census Bureau).
- Size percentile: larger than about 54% of the Census places in Illinois (US Census Bureau).
- Coordinates: 39.0218 latitude, -88.8514 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Altamont, IL (6 mi); Vandalia, IL (14 mi); Effingham, IL (18 mi); Teutopolis, IL (21 mi); Shelbyville, IL (27 mi) (US Census Bureau populations).
- Nearest smaller places: Brownstown, IL (6 mi); St. Peter, IL (11 mi); Beecher City, IL (12 mi) (US Census Bureau estimates).
What a personal loan costs in St. Elmo
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Illinois lending rules that apply in St. Elmo
The Illinois rate caps and licensing rules that reach St. Elmo 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 St. Elmo
These steps are the ones that most affect the offer you receive in St. Elmo:
- 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.