Quick answer
Chicago, IL residents can get loans from licensed lenders regulated by the Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions. Payday loans are prohibited. Call (800) 236-7761 or use the form to see which lenders will work with you today.
Loan options for Chicago residents
Illinois law determines what loans are available, what they cost, and who can lend. Here is how each product stands under current Illinois law:
| Loan type | Status in IL | Key limits |
|---|---|---|
| Installment loans | Restricted | Consumer installment loans are regulated by the Consumer Installment Loan Act... |
| Bad credit loans | Restricted | Special limits apply |
| Debt consolidation | Legal | Licensed lenders |
Want the short list of lenders who will actually say yes?
Tell us the amount and your credit range. Only lenders licensed in Illinois see your request.
Illinois loan rules at a glance
All loan products in Chicago follow Illinois law. Licensed lenders are regulated by the Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions. Here are the key provisions for the most common loan types:
Illinois loan rules at a glance
- Governing statutes
- Consumer Installment Loan Act, Debt Settlement Consumer Protection Act, ILCS 123, ILCS 429
Regulator: Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions · Phone: 1-888-473-4858 · Statutes: Consumer Installment Loan Act, Debt Settlement Consumer Protection Act, ILCS 123, ILCS 429 · Last verified: 2026-10-08
Cheaper options in Chicago
Before you take a high-cost loan, compare these cheaper options: