Paris at a glance
- Population: 8,039 people, the 258th-largest place among Illinois's 1,294 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 8,293 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population fell about 3.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Illinois places: 258th-largest of 1,294 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 80% of places in Illinois are smaller (US Census Bureau).
- Coordinates: latitude 39.6151, longitude -87.6891 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Terre Haute, IN (20 mi); Charleston, IL (28 mi); Brazil, IN (31 mi); Danville, IL (37 mi); Mattoon, IL (37 mi) (US Census Bureau).
- Smaller towns nearby: Vermilion, IL (6 mi); Redmon, IL (9 mi); Universal, IN (12 mi) (US Census Bureau).
What a personal loan costs in Paris
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.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Illinois lending rules that apply in Paris
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Paris
The steps below are worth completing first when you borrow in Paris:
- 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.