Granite City at a glance
- Population: 26,908 (US Census Bureau, Vintage 2023 subcounty estimate), the 77th-largest of 1,294 places in Illinois.
- 2020 Census base: 27,566 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a loss of about 2.4% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 77th out of 1,294 Census places (US Census Bureau).
- Size percentile: about 94% of places in Illinois are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.7293, -90.1255.
- Nearest larger cities: St. Louis, MO (9 mi); Florissant, MO (12 mi); University City, MO (12 mi); O'Fallon, IL (14 mi); Belleville, IL (16 mi); US Census Bureau population estimates.
- Smaller places nearby: Madison, IL (3 mi); Pontoon Beach, IL (3 mi); Venice, IL (5 mi), per US Census Bureau estimates.
What a personal loan costs in Granite City
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Granite City
Each row below is a Illinois rule with its publisher and the date it was retrieved.
| 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 Granite City
Here is a short checklist for comparing personal loans in Granite City:
- 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.