Godfrey at a glance
- Population: 17,597 residents, the 144th-largest of 1,294 places in Illinois (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 17,820 (US Census Bureau).
- 2020 to 2023 change: down about 1.3% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 144th out of 1,294 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 89% of Illinois's Census places by population (US Census Bureau).
- Coordinates: it sits at 38.9529, -90.2225 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Alton, IL (5 mi); Florissant, MO (12 mi); Hazelwood, MO (14 mi); Ferguson, MO (15 mi); Granite City, IL (16 mi) (US Census Bureau populations).
- Nearest smaller places: West Alton, MO (6 mi); Portage Des Sioux, MO (7 mi); Elsah, IL (7 mi) (US Census Bureau estimates).
What a personal loan costs in Godfrey
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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 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.
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 Godfrey
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Godfrey
Here is a short checklist for comparing personal loans in Godfrey:
- 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.