Mascoutah at a glance
- Population: roughly 8,916 people; 240th of 1,294 places in Illinois (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 8,753 (US Census Bureau).
- 2020 to 2023 change: an increase of about 1.9% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 240th largest of 1,294 (US Census Bureau).
- Size percentile: about 81% of Illinois's Census places are smaller (US Census Bureau).
- Coordinates: 38.5181, -89.8000 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Shiloh, IL (6 mi); O'Fallon, IL (8 mi); Belleville, IL (10 mi); Swansea, IL (10 mi); Fairview Heights, IL (12 mi) (US Census Bureau).
- Nearest smaller places: New Baden, IL (5 mi); Lebanon, IL (6 mi); Summerfield, IL (6 mi) (US Census Bureau estimates).
What a personal loan costs in Mascoutah
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Illinois lending rules that apply in Mascoutah
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 Mascoutah
The steps below are worth completing first when you borrow in Mascoutah:
- 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.