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Installment loans in Wisconsin

Installment loans for bad credit in Wisconsin

Installment loans are allowed in Wisconsin from state-licensed lenders (Licensed Lender license). Here are the limits Wisconsin law sets, what a typical loan can cost, and where to get free help if you need it.

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Last updated .

Part of the Wisconsin guide

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How installment loans work

An installment loan is repaid in equal payments over months, not in one payment on your next payday; the examples below stay within Wisconsin limits.

What installment loans can cost

These examples show how cost adds up. They are illustrative, not a quote. Your lender sets the actual rate and terms.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$292.45
Finance charge
$509.40
Total of payments
$3,509.40

Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

What Wisconsin law allows

Installment loans in Wisconsin
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3] AllowedNo rate limit in state law No rate limit Up to $25,000 Not set by statute Licensed Lender license Wis. Stat. sec. 138.09
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Installment and personal loans

Rate cap
Licensed Lenders Law, Wis. Stat. sec. 138.09: a license is required to make a consumer loan with a finance charge above 18 percent per year (sec. 138.09(1g)); loans exceeding 25,000 dollars in principal are outside the section. Under sec. 138.09(7)(bp), a loan made after October 31, 1984 is not subject to any maximum interest rate limit, so licensed lenders have no statutory APR cap. The former 9.50 dollars per 100 dollars advance-interest schedule is no longer in the current text.
Fees
No statutory rate cap (sec. 138.09(7)(bp)). Structural limits: loans of 3,000 dollars or less in equal installments may not be scheduled beyond 36 months and 15 days if principal exceeds 700 dollars, or 24 months and 15 days if 700 dollars or less (sec. 138.09(7)(d)1.). Post-default rate may equal but not exceed the disclosed APR.
License
Licensed Lender license under Wis. Stat. sec. 138.09, issued by the Wisconsin Department of Financial Institutions (DFI).

Full detail for every loan type: Wisconsin lending laws.

Rent and jobs in Wisconsin

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Wisconsin
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,287FY2026
Unemployment rate[5]3.2%2026-08

Other options in Wisconsin

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in Wisconsin.

Other loan types allowed in Wisconsin

See every loan type Wisconsin law allows.

Installment loans in nearby states

Sources

  1. Justia. law.justia.com/codes/wisconsin/chapter-138/section-138-09. Retrieved September 23, 2026.
  2. dfi.wi.gov. Wisconsin Department of Financial Institutions (DFI). Retrieved September 23, 2026.
  3. docs.legis.wisconsin.gov. Wis. Stat. sec. 138.09. Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Wisconsin. Retrieved September 23, 2026.
  5. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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Important disclosures

APRs vary by lender and state in Wisconsin. Each lender sets its own rates and terms and must show you the APR before you sign.

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  • Questions about a lender licensed in Wisconsin? Contact the Wisconsin Department of Financial Institutions (DFI) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.