Diamond at a glance
- Population: 2,682 (US Census Bureau, Vintage 2023 subcounty estimate), the 432nd-largest of 1,294 places in Illinois.
- 2020 Census base: the 2020 count put the population at 2,635 (US Census Bureau).
- 2020 to 2023 change: an increase of about 1.8% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 432nd by size among 1,294 communities (US Census Bureau).
- Size percentile: it is larger than about 67% of the places in Illinois (US Census Bureau).
- Coordinates: it sits at 41.2852, -88.2507 in the US Census Bureau Gazetteer.
- Nearest larger cities: Coal City, IL (2 mi); Braidwood, IL (2 mi); Wilmington, IL (5 mi); Channahon, IL (10 mi); Morris, IL (11 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Carbon Hill, IL (3 mi); Godley, IL (3 mi); Braceville, IL (4 mi) (US Census Bureau).
What a personal loan costs in Diamond
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.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Illinois lending rules that apply in Diamond
Read the table as the compliance picture for a lender serving Diamond: label, sourced figure, publisher and 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 Diamond
Run through this list before signing anything in Diamond:
- 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.