Meredosia at a glance
- Population: about 802, 712th by size in Illinois of 1,294 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 824 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.7% below the 2020 Census base (US Census Bureau).
- Rank among Illinois places: 712th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 45% of places in Illinois are smaller (US Census Bureau).
- Coordinates: 39.8315 latitude, -90.5572 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Griggsville, IL (12 mi); Beardstown, IL (14 mi); Winchester, IL (15 mi); Mount Sterling, IL (15 mi); Jacksonville, IL (19 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Bluffs, IL (6 mi); Naples, IL (6 mi); Versailles, IL (6 mi) (Census populations).
What a personal loan costs in Meredosia
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Illinois lending rules that apply in Meredosia
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Meredosia.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Meredosia
Here is a short checklist for comparing personal loans in Meredosia:
- 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.