Monee at a glance
- Population: about 5,097, 324th by size in Illinois of 1,294 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 5,126 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.6% since the 2020 count (US Census Bureau).
- Rank among Illinois places: the 324th-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 75% of Illinois places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.4178, -87.7499.
- Nearest larger cities within 120 miles: University Park, IL (3 mi); Richton Park, IL (4 mi); Park Forest, IL (5 mi); Matteson, IL (6 mi); Crete, IL (7 mi) (US Census Bureau).
- Smaller places close by: Peotone, IL (6 mi); South Chicago Heights, IL (7 mi); Olympia Fields, IL (8 mi) (US Census Bureau).
What a personal loan costs in Monee
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
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 Monee
The table carries the Illinois rate and licensing rules that apply to consumer loans made in Monee.
| 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 Monee
A few practical steps will make the process in Monee less costly:
- 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.