Glasgow at a glance
- Population: a Census-estimated 108, placing it 1,219th among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 113 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a decline of roughly 4.4% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 1,219th by size among 1,294 communities (US Census Bureau).
- Size percentile: it is larger than about 6% of the places in Illinois (US Census Bureau).
- Coordinates: mapped at 39.5487, -90.4800 by the US Census Bureau Gazetteer.
- Nearest larger cities: Alsey, IL (3 mi); Winchester, IL (6 mi); Roodhouse, IL (7 mi); Manchester, IL (8 mi); White Hall, IL (9 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Wilmington, IL (5 mi); Hillview, IL (8 mi); Florence, IL (9 mi), each a US Census place.
What a personal loan costs in Glasgow
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Illinois lending rules that apply in Glasgow
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Glasgow
Before you commit to a personal loan in Glasgow, 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.