Burnt Prairie at a glance
- Population: 34, the 1,285th-largest community in Illinois out of 1,294 (US Census Bureau, Vintage 2023).
- 2020 Census base: 35 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 2.9% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 1,285th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 1% of Illinois's Census places are smaller (US Census Bureau).
- Coordinates: 38.2509, -88.2583 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Mill Shoals, IL (5 mi); Springerton, IL (7 mi); Golden Gate, IL (8 mi); Fairfield, IL (11 mi); Enfield, IL (11 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Macedonia, IL (28 mi); Rockwood, IL (83 mi); Wenonah, IL (92 mi) — US Census Bureau populations.
What a personal loan costs in Burnt Prairie
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Illinois lending rules that apply in Burnt Prairie
The Illinois rate caps and licensing rules that reach Burnt Prairie 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 Burnt Prairie
The order below is a sensible way to approach a loan in Burnt Prairie:
- 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.