Personal loans in Waukegan, IL
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Waukegan, IL.
The median household in Waukegan earns $71,919 a year, 14% below the Illinois median of $83,390. About 15% of residents live below the federal poverty line, and 49.8% of households rent their home.
Illinois law that applies in Waukegan
| Rate cap | 36% APR, calculated the all-in Military Lending Act way, on the unpaid balance of the amount financed, for loans made or renewed on or after March 23, 2021. |
|---|---|
| License required | Yes. |
| Loan sizes covered | A CILA licensee may lend up to $40,000 in principal. |
Full rules with statute citations: Personal Loans in Illinois. Cities in Illinois cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Waukegan
Here's what to have on hand before you start your personal loan request in Waukegan:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Waukegan
What Waukegan borrowers use it for
cover a short gap before payday
Emergencieshandle the unexpected the same week
Moving costsdeposits, trucks and first-week expenses
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in Waukegan
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Waukegan
13 FDIC-insured bank branches from 10 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| North Shore Trust and Savings | 2 | 700 S Lewis Ave, Waukegan 60085 |
| Old National Bank | 2 | 1201 Golf Rd, Waukegan 60087 |
| PNC Bank, National Association | 2 | 1802 Belvidere Rd, Waukegan 60085 |
| Fifth Third Bank, National Association | 1 | 702 N Green Bay Rd, Waukegan 60085 |
| The Huntington National Bank | 1 | 927 N Green Bay Rd, Waukegan 60085 |
| Associated Bank, National Association | 1 | 3124 N Lewis Ave, Waukegan 60087 |
| JPMorgan Chase Bank, National Association | 1 | 3950 Fountain Square Pl, Waukegan 60085 |
| BMO Bank National Association | 1 | 3113 N Lewis Ave, Waukegan 60087 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Waukegan
6 credit-union locations from 3 credit unions.
| Credit union | Location |
|---|---|
| Consumers | 2750 Washington St, Waukegan 60085 |
| Great Lakes | 3290 N Lewis Ave, Waukegan 60087 |
| Gideon | 1500 W Ridgeland Ave, Waukegan 60085 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Lake County ·
Frequently asked questions
Can I get a personal loan with bad credit in Waukegan?
Possibly. Lenders in our network consider applicants with fair and bad credit across Illinois, including Waukegan. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Waukegan, IL?
36% APR all-in cap on consumer loans; installment lenders up to $40,000.
How fast can I get a personal loan in Waukegan?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
How do I apply for a personal loan with bad credit in Waukegan?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
Where can I find a loan for bad credit in Waukegan?
You can apply at local banks and lenders in Waukegan, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Waukegan borrowers who qualify.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Can I get an emergency loan with bad credit in Waukegan?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Waukegan residents can see if they qualify in about 3 minutes.
Do I need to visit a store in Waukegan?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.