Arrowsmith at a glance
- Population: about 270 residents, ranking 1,035th of 1,294 Census places in Illinois (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 276 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.2% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 1,035th by size among 1,294 communities (US Census Bureau).
- Size percentile: about 20% of places in Illinois are smaller (US Census Bureau).
- Coordinates: 40.4493, -88.6321 (US Census Bureau Gazetteer).
- Nearest larger cities: Saybrook, IL (6 mi); Colfax, IL (8 mi); Bellflower, IL (9 mi); Le Roy, IL (10 mi); Gibson City, IL (13 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Ellsworth, IL (4 mi); Cooksville, IL (8 mi); Anchor, IL (10 mi) (US Census Bureau).
What a personal loan costs in Arrowsmith
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Illinois lending rules that apply in Arrowsmith
The Illinois rate caps and licensing rules that reach Arrowsmith are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Arrowsmith
Before you commit to a personal loan in Arrowsmith, work through these steps:
- 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.