South Wilmington at a glance
- Population: roughly 716 people; 749th of 1,294 places in Illinois (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 707 (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 1.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 749th by size among 1,294 communities (US Census Bureau).
- Size percentile: larger than about 42% of the Census places in Illinois (US Census Bureau).
- Coordinates: 41.1745, -88.2795 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Gardner, IL (2 mi); Braceville, IL (4 mi); Essex, IL (5 mi); Coal City, IL (7 mi); Braidwood, IL (7 mi) (US Census Bureau).
- Smaller places close by: East Brooklyn, IL (1 mi); Godley, IL (5 mi); Reddick, IL (5 mi) (US Census Bureau).
What a personal loan costs in South Wilmington
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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 South Wilmington
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in South Wilmington
The order below is a sensible way to approach a loan in South Wilmington:
- 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.