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Personal Loans in Illinois Online

Find Illinois online personal loan lenders through for good and bad credit. Secured and unsecured personal loans may be approved by next business day

If you have been researching the best installment loans in the Land of Lincoln, you can request funding today for up to $40,000. To get started, enter your first name, last name, and email address into our short form below. When you click the “Get Started” button, works to find you one of our affiliate loan companies.

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Slightly different from other types of short-term loans, an installment loan is money you borrow and pay back over a period of time, usually a few months. Instead of repaying the loan in one payment, installment funding is typically paid for in monthly payments (installments). In this way, you can borrow more and pay off the interest and the principal a little at a time. The actual APR you receive varies by lender and your current situation.’s affiliate lenders currently offer APRs starting as low as 4.84 percent.

Illinois Personal Loans

Financial needs vary from person to person. Below are some of the reasons Illinois residents are taking out personal loans.

  • Home renovations and repairs - Homeownership is a big responsibility, mainly because buying a home is the single largest purchase that most people make. When repairs are needed, not everyone has the money to cover big ticket items like a new furnace or a new roof. Taking out a personal loan is one way to make these home-related expenses more affordable.
  • Consumer debts - According to NerdWallet, the average credit card debt in Illinois is $3,738. Some people have chosen to take out personal loans with lower interest rates to consolidate debts and ease their financial burdens.
  • Car repairs - The average cost of a major car repair in Illinois is $2,599.70. Without savings to cover the cost of a big repair, some people are forced to choose between paying the rent or repairing their vehicle. Because of this, some Illinois residents are taking out personal loans to keep their cars and trucks running.
  • Healthcare costs - The average person in Illinois pays $244 per month for health insurance. That totals almost $3,000 each year for personal health insurance in Illinois. Emergency visits, costly prescriptions, and other healthcare expenses place an even greater burden on families who are already paying for medical coverage. Some of these people turn to personal loans for help.

If you believe you are ready to submit a funding request, we invite you to fill in our online form today.

Illinois State Economy

The Land of Lincoln has the fifth largest economy in the nation. Manufacturing, agriculture, and tourism are some of the state’s biggest industries.

Illinois is fourth in the nation (behind California, Texas, and Ohio) for manufacturing. Its industries create over $100 billion in goods annually. Some of these goods include machinery, fabricated metal products, food products, computer and electronic products, plastics, and rubber products.

Agriculture is a significant contributor to the Illinois economy as well. The state ranks second behind Iowa for corn production. Also, Illinois is usually one of the nation’s top soybean-producing states. Other agricultural products include hogs, cattle, dairy products, and wheat.

Across the state, the average cost to purchase a home is $157,200, which is below the national average. In addition, Illinois’ cost of living is slightly lower than the national average. The cost of renting a two-bedroom apartment is right at the national average while the cost of renting a three- or four-bedroom apartment is lower than the rest of the nation.


You work hard for your paycheck. Unscrupulous businesses and individuals work equally hard to separate you from your money through loan scams. Below are some common tactics scammers might use:

  • Unsolicited loans - Emails, phone calls, or other unsolicited loan offers could be a red flag for a loan scam.
  • Promises of easy money - Offers of no-fee credit cards and low-interest loans without any credit checks might appear to be an easy way to get money, but they could be scams.
  • Pressure - Potential lenders or creditors may use high pressure or scare tactics to get you to take out a loan.

Even if you are desperate, be cautious when researching loans so that you won’t fall prey to loan scams.

Things to Consider Before Borrowing

Taking out a loan for short-term financial needs is an option for getting back on your feet. However, being a responsible borrower will help you maintain your financial health. Before taking out a loan, here are some things to consider:

  • Borrow what you need, not what you want. A larger loan now means more financial responsibility in the future.
  • Loans are a good option for people in need, yet they also come with obligations. Once you borrow money, you are obligated to repay the loan according to the agreed-upon terms and payment schedule.
  • All loans have fees, conditions, and terms. Learn about these before borrowing money.

The Illinois Division of Financial Institutions, Consumer Credit Section offers more information on issues related to consumer finance for those with additional questions.