Warsaw at a glance
- Population: the Census estimates 1,473 residents, ranking 542nd of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 1,513 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 2.6% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 542nd of the state's 1,294 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 58% of Illinois's Census places by population (US Census Bureau).
- Coordinates: 40.3510, -91.4280 (US Census Bureau Gazetteer).
- Nearest larger cities: Keokuk, IA (4 mi); Hamilton, IL (4 mi); Kahoka, MO (16 mi); Canton, MO (16 mi); Carthage, IL (16 mi), each a US Census place with its estimated population.
- Nearest smaller places: Alexandria, MO (2 mi); Wayland, MO (8 mi); Elvaston, IL (10 mi) (US Census Bureau estimates).
What a personal loan costs in Warsaw
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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 Warsaw
The sourced rows below are the rules a licensed lender must follow when lending in Illinois, and therefore in Warsaw.
| 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 Warsaw
Here is a short checklist for comparing personal loans in Warsaw:
- 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.