Personal loans in Mount Erie, IL

Two households in Mount Erie with comparable incomes can still be offered different rates; the city's 96 residents are not the reason. Census figures put the 2020-to-2023 decrease in Mount Erie at about 1.0%.

By the Personalloaner Editorial Team · Last updated 2026-09-16

Compare loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

The Census estimates 96 residents in Mount Erie, which ranks it 1,238th of 1,294 places in Illinois. Compare APR, not the interest rate, because the APR folds in most fees on a Mount Erie loan. Rate ceilings, licensing requirements and product limits for Mount Erie are all set at the Illinois level. The nearest larger metro is Jeffersonville, IL about 11 miles away.

Mount Erie by the numbers

Two layers matter for a Mount Erie borrower: the local population picture and Illinois's consumer-lending statutes.

Illinois consumer-lending rules applied in Mount Erie

This table holds the Illinois rate and licensing rules for consumer loans made to Mount Erie's 96 residents.

RuleDetailSource
State lending regulatorIllinois 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
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 statusPermitted 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

The anatomy of a Mount Erie personal loan

Most loans made to Mount Erie's 96 residents are unsecured, so nothing is pledged and the lender relies on your credit history. Federal Truth in Lending rules require a Mount Erie lender to disclose the APR and finance charge before you sign. A longer term lowers the monthly payment on a Mount Erie loan but raises total interest, so the smallest payment is not the cheapest loan.

How Mount Erie compares across Illinois

Against Illinois's other places, Mount Erie accounts for about 0.0% of the state's population and ranks 1,238th of 1,294 by size. For population change between 2020 and 2023, Mount Erie ranks 258th of 1,294 in Illinois (about the 80th percentile). At about 250 people per square mile, Mount Erie is the 1,146th most densely settled place in Illinois. In land area, Mount Erie ranks 1,105th among Illinois's 1,294 places.

The geography behind Mount Erie

Mount Erie covers about 0.4 square miles of land (Census Gazetteer); no significant water area is recorded inside its boundaries. Spread across it are roughly 250 residents per square mile. The largest place in Illinois, Chicago, lies about 231 miles away. Within 50 miles of Mount Erie there are 107 larger Census places. The 100-mile radius contains 482 larger places.

How lenders reach Mount Erie

Mount Erie is lightly settled, with about 250 people per square mile and 107 larger places within 50 miles. A Illinois licence lets a lender serve Mount Erie without a local office, so branch density does not change what its 96 residents are offered. The nearest larger city, Jeffersonville, IL about 11 miles away.

Compare personal loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Common questions

What are my options in Mount Erie if my credit is poor?
Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Mount Erie is the same as anywhere in Illinois.
What loan size can I expect in Mount Erie?
Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.
Do I have to pledge anything to borrow in Mount Erie?
For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.
Does comparing loans in Mount Erie cost me credit score points?
Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.

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