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Compare your loan options in Wisconsin

This state sets borrowing limits as a percentage of your monthly income.

Editor's choice: OppLoans Installment Loans

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  • APR starting at 4.66%
  • Funding as soon as the next business day
  • Accepts fair credit
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Payday loans are permitted in Wisconsin, but the state regulates how much lenders can fund and what fees they can charge.

What are the payday loan laws in Wisconsin?

Payday loans are legal in Wisconsin. Wisconsin Statutes 138.14 controls payday lending.

Under Wisconsin law, you can’t borrow more than $1,500 or 35% of your gross monthly income, whichever is less. All loan terms are limited to 90 days, but you are able to refinance (roll over) your loan one time. After this, you’ll be required to pay back the total amount of both loans.

You can have any amount of payday loans at once provided the total is less than $1,500 or 35% of your monthly income. However, it’s important to note that the more payday loans you have out at once, the more you may have to pay in interest.

Compare short-term loan options in Wisconsin

Data updated regularly
Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 - $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
$1,000 - $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
No green card? You could still qualify for a personal loan.
Fast5kLoans Short-term Loans Connection Service
$100 - $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 - $15,000
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Monevo Installment Loans
$500 - $100,000
Varies by lender
Credit score of 500+, legal US resident, ages 18+
Quickly compare multiple online lenders with competitive rates depending on your credit.

Compare up to 4 providers

How much will a payday loan cost me?

There is no limit to the maximum finance rate, meaning Wisconsin lenders can charge however much they’d like in the form of fees and interest.

If you default on your loan, a lender can charge you 2.75% per month in interest until you fully repay your loan. Lenders can’t charge any fees if you pay your loan early, default or make a late payment.

A lender can only attempt to cash a check or withdraw money from your bank account once. If you don’t have enough money in your account, a lender can charge a $15 non-sufficient funds (NSF) fee.

Before you sign a contract, read the terms carefully. Your loan contract will list the total cost so you’ll know exactly how much you’ll have to pay for what you borrow.

How do I apply?

Although all lenders have different applications, you’ll need to meet some basic eligibility requirements before you apply. You should have a regular source of income, be a US citizen or permanent resident and be at least 18 years old.

Most lenders will ask for

  • Your name
  • Your date of birth
  • Your email and phone number
  • Your address
  • Your Social Security number
  • Your employment status and income
  • Your bank account numbers

This is to confirm your identity and make sure you have the ability to repay a loan.

Alternatives to payday loans in Wisconsin

If you’re having trouble paying for everyday bills, Wisconsin has programs to help when you’re facing financial hardship. For instance, the Wisconsin Home Heating Assistance Program or the Home Weatherization program can help you when your energy bills are too high.

Look for other assistance programs that will help you handle expensive everyday expenses so you can pay down your debts.

Cheaper credit options and local resources to consider

Bottom line

When you’re in need of cash, a payday loan could be a way to afford an unexpected bill or a gap in your budget. These are short-term options designed to get your through to your next payday, not long-term financial solutions. As long as you know the whole cost of the loan and can afford it, a payday loan can be a solution to a money problem.

What else should I know about payday loans in Wisconsin?

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2 Responses

    Default Gravatar
    RbakerJuly 26, 2017

    I am trying to find a loan for $1000 I have bad credit and no checking account

      Avatarfinder Customer Care
      HaroldJuly 26, 2017Staff

      Hi Rbaker,

      Thank you for your inquiry.

      With you current circumstance you may want to consider the following options:

      1. Loans that don’t require a bank account
      2. Bad credit short term loans

      As a reminder, please check the eligibility requirements and read through the Terms and Conditions before applying and making a decision on whether it is right for you.

      I hope this information has helped.


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