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Whether you’re looking for loans in Chicago, or anywhere in Illinois, RISE’s online installment loans could get $2,000 to $4,000 in your account within one business day. The APR ranges from 60% to 99%, and the 15- to 25-month term can make repaying the loan predictably manageable.

Why an installment loan?

Installment loans, like the ones RISE offers in Illinois, let you borrow money and use it for almost anything. Whether you need to fix your car, catch up on bills, or cover an unexpected visit to the emergency room, the money is yours, and you can repay it in installments over time.


RISE’s Illinois installment loans are unsecured loans, meaning you don’t have to offer up your possessions as collateral. A secured installment loan, like an auto title loan, could also let you borrow money and repay it over time. However, if you fall behind on payments, the lender could take your vehicle.



RISE offers installment loans in Illinois, but it does more than just lend money. Here are a few features that could be appealing to borrowers:


  • RISE reports your payments to TransUnion, which could help you build credit.
  • Get free credit monitoring and access to one of your TransUnion credit scores.
  • RISE offers a free financial wellness library. Learn how to build credit, save money, and improve your finances.


RISE loan terms can vary depending on your income, employment, and history of repaying loans, but they all have the following features:


  • Apply online and have money in your account within one business day*
  • No application or prepayment fees
  • You can borrow $2,000 to $4,000
  • Your loan will have a 15- to 25-month term
  • The loans have a 60% to 99% APR
  • The five-day, risk-free guarantee means you can return the principal within five business days and won’t pay any fees.


RISE installment loans in Chicago and throughout Illinois aren’t necessarily the least expensive option available. If you have a credit card with a lower APR or have excellent credit and can qualify for a low-rate personal loan elsewhere, that may be a better option.


However, RISE focuses on offering loans borrowers who may not have perfect credit but still need to borrow money to help pay for emergencies. For these borrowers, RISE’s loan terms and overall benefits make it a competitive option if you’re looking for loans in Illinois.


Couldn’t a payday loan work as well?

Storefront and online payday loans in Illinois are also an option for borrowers. State regulations limit what lenders can charge for payday loans in Illinois, but the Illinois attorney general says that there’s a good chance you can wind up worse off after taking out a payday loan.


There are traditional payday loans and payday installment loans in Illinois.


  • With a traditional payday loan, you may have a 13- to 120-day term, and the fee could be as high as $15.50 for every $100 you borrow.
  • Payday installment loans could have longer terms of up to six months.
  • With either option the fees or interest could equate to an APR of as much as 400%, more than four times the APR of RISE’s installment loans.


Payday lenders might not check your credit report from one of the big three national consumer credit bureaus, but they also generally don’t report your payments to the bureaus. As a result, repaying the payday loan wouldn’t help improve your credit scores.


A RISE loan could help you build credit

While you generally don’t want to take out a loan and pay interest solely to build your credit, if you need to borrow money and are repaying your loan on time shouldn’t you get credit for it?


RISE reports your payments to TransUnion, a major credit bureau, and making on-time payments could help you build a good credit history. Since your credit scores depend entirely on what’s in your credit reports, adding positive information to your reports could help improve your scores as well.


You can also sign up for the free Credit Score Plus program from RISE, which lets you track one of your TransUnion credit scores and comes with TransUnion credit monitoring.