Tremont at a glance
- Population: about 2,243, 459th by size in Illinois of 1,294 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,277 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.5% lower than the 2020 Census base (US Census Bureau).
- Rank among Illinois places: the 459th-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 65% of the Census places in Illinois (US Census Bureau).
- Coordinates: 40.5250, -89.4890 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Morton, IL (6 mi); Pekin, IL (8 mi); Marquette Heights, IL (9 mi); Creve Coeur, IL (10 mi); East Peoria, IL (11 mi) (US Census Bureau).
- Nearest smaller towns: Mackinaw, IL (7 mi); Hopedale, IL (8 mi); South Pekin, IL (9 mi) (US Census Bureau).
What a personal loan costs in Tremont
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Tremont
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Tremont.
| 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 Tremont
Run through this list before signing anything in Tremont:
- 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.