Olympia Fields at a glance
- Population: about 4,530 residents, ranking 348th of 1,294 Census places in Illinois (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 4,725 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down about 4.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 348th out of 1,294 Census places (US Census Bureau).
- Size percentile: about 73% of places in Illinois are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.5220, -87.6916.
- Nearest larger cities: Flossmoor, IL (1 mi); Park Forest, IL (3 mi); Matteson, IL (3 mi); Homewood, IL (3 mi); Chicago Heights, IL (3 mi), each a US Census place with its estimated population.
- Smaller places close by: South Chicago Heights, IL (4 mi); East Hazel Crest, IL (4 mi); Thornton, IL (5 mi) (US Census Bureau).
What a personal loan costs in Olympia Fields
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.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Illinois lending rules that apply in Olympia Fields
The Illinois rate caps and licensing rules that reach Olympia Fields are listed below, each with its source and retrieval date.
| 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 Olympia Fields
Before you commit to a personal loan in Olympia Fields, work through these steps:
- 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.