Woodland at a glance
- Population: 239 residents, the 1,061st-largest of 1,294 places in Illinois (US Census Bureau, Vintage 2023).
- 2020 Census base: 248 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down about 3.6% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Illinois places: the 1,061st-largest of 1,294 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 18% of Illinois's places have fewer residents (US Census Bureau).
- Coordinates: 40.7151 latitude, -87.7311 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Watseka, IL (4 mi); Milford, IL (6 mi); Crescent City, IL (8 mi); Sheldon, IL (9 mi); Cissna Park, IL (13 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Iroquois, IL (11 mi); Wellington, IL (12 mi); Donovan, IL (13 mi), each a US Census place.
What a personal loan costs in Woodland
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Illinois lending rules that apply in Woodland
The Illinois rate caps and licensing rules that reach Woodland 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 Woodland
Run through this list before signing anything in Woodland:
- 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.