Florence at a glance
- Population: a Census-estimated 17, placing it 1,293rd among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 18 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 5.6% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 1,293rd out of 1,294 Census places (US Census Bureau).
- Size percentile: about 0% of Illinois's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 39.6284, -90.6128.
- Nearest larger cities: Detroit, IL (3 mi); Milton, IL (5 mi); Griggsville, IL (8 mi); Winchester, IL (8 mi); Naples, IL (9 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Valley City, IL (6 mi); Annada, MO (28 mi); Champ, MO (62 mi), each a US Census place.
What a personal loan costs in Florence
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest 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 Florence
The table lists the Illinois rules that apply to a loan made in Florence, each with the regulator that published it.
| 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 Florence
Before you share your details with a lender in Florence:
- 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.