Enfield at a glance
- Population: 778 — 721st in Illinois, which has 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 794 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a loss of about 2.0% since the 2020 count (US Census Bureau).
- Rank among Illinois places: the 721st-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 44% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: 38.1009 latitude, -88.3381 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Norris City, IL (8 mi); Carmi, IL (9 mi); McLeansboro, IL (11 mi); Fairfield, IL (19 mi); Eldorado, IL (21 mi) (US Census Bureau populations).
- Nearest smaller communities: Springerton, IL (5 mi); Mill Shoals, IL (10 mi); Burnt Prairie, IL (11 mi) (Census populations).
What a personal loan costs in Enfield
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
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 Enfield
The Illinois rate caps and licensing rules that reach Enfield are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Enfield
Run through this list before signing anything in Enfield:
- 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.