Park Ridge at a glance
- Population: a Census-estimated 37,897, placing it 45th among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 39,644 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a loss of about 4.4% since the 2020 count (US Census Bureau).
- Rank among Illinois places: 45th of 1,294 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 97% of places in Illinois rank below it by population (US Census Bureau).
- Coordinates: mapped at 42.0118, -87.8434 by the US Census Bureau Gazetteer.
- Nearest larger cities: Des Plaines, IL (3 mi); Glenview, IL (5 mi); Skokie, IL (6 mi); Mount Prospect, IL (6 mi); Evanston, IL (8 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Niles, IL (2 mi); Rosemont, IL (2 mi); Norridge, IL (3 mi) (US Census Bureau).
What a personal loan costs in Park Ridge
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Illinois lending rules that apply in Park Ridge
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Park Ridge
Before you commit to a personal loan in Park Ridge, 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.