Lily Lake at a glance
- Population: the Census estimates 1,041 residents, ranking 641st of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 1,037 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 0.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 641st by size among 1,294 communities (US Census Bureau).
- Size percentile: it is larger than about 50% of the places in Illinois (US Census Bureau).
- Coordinates: 41.9573 / -88.4720, per the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Campton Hills, IL (3 mi); Elburn, IL (5 mi); Maple Park, IL (8 mi); South Elgin, IL (8 mi); St. Charles, IL (9 mi) (US Census Bureau).
- Nearest smaller communities: Virgil, IL (3 mi); Burlington, IL (8 mi); Kaneville, IL (9 mi), each a US Census place.
What a personal loan costs in Lily Lake
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Illinois lending rules that apply in Lily Lake
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Lily Lake.
| 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 Lily Lake
The order below is a sensible way to approach a loan in Lily Lake:
- 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.