Payday Loans in Springfield, Wisconsin

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No payday loan companies in Springfield, WI. Consider companies in other cities:

Company nameAddressZip codePhone number
Kohler Credit Union - Grafton 2550 Washington St, Grafton, WI 53024 +1 (888) 528 - 2595
Heartland Credit Union 1205 Joseph St, Dodgeville, WI 53533 +1 (800) 362 - 3944
Bonded Collectors of Beaver Dam, Inc. 228 S Spring St, Beaver Dam, WI 53916 +1 (920) 885 - 5536
Advia Credit Union 111 Elkhorn Rd, Williams Bay, WI 53191 +1 (844) 238 - 4228
Mont L. Martin, Attorney at Law 933 N Mayfair Rd Ste.205, Milwaukee, WI 53226 +1 (414) 258 - 5787
Ripco Credit Union 121 Sutliff Ave, Rhinelander, WI 54501 +1 (715) 365 - 4800
Auto Value 510 N Superior Ave C, Tomah, WI 54660 +1 (608) 374 - 2500
Summit Credit Union W156 S6840, Moorland Rd, Muskego, WI 53150 +1 (800) 236 - 5560
Associated Bank 825 N Main St, Viroqua, WI 54665 +1 (608) 637 - 8201
Associated Bank 10 W Murdock Ave, Oshkosh, WI 54901 +1 (920) 236 - 6605

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Springfield, WI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in West Bend, WI, Guaranteed Loans in Appleton, WI, Payday Loans in Beloit, WI, Payday Loans in Brookfield, WI, Payday Loans in Eau Claire, WI, Guaranteed Loans in Fond du Lac, WI, Payday Loans in Franklin, WI and Emergency Loan in Green Bay, WI. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Springfield, WI.

Beautiful sights of Springfield, WI

Are Payday Loans Legal In Springfield, Wisconsin?

Loan Rates and Fees, Laws and Regulations in Wisconsin.

Wisconsin Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)574
Maximum Loan Amount$1,500 (or 35% of the gross monthly income)
Minimum Loan TermNot Specified
Maximum Loan Term90 days
Number of Rollovers Allowed1
Finance Charges2.75%/mo

Springfield, WI payday loan calculator

When faced with an unexpected expense, it can be difficult to find the financial resources required to cover it. In situations like these, payday loans may seem like a viable option, especially considering they are legal in Wisconsin. For residents of Springfield, Wisconsin, payday loans are available from a variety of lenders. In this article, we’ll take a closer look at what payday loans are, how they work, and what to consider before applying for one in Springfield, Wisconsin.

What Are Payday Loans?

A payday loan is a short-term loan designed to provide immediate access to funds. This type of loan is typically due on the borrower’s next payday. Payday loans are usually small amounts ranging from $50 to $500 and are usually borrowed for a period of two to four weeks.

The way payday loans work is quite simple. The borrower writes a post-dated check for the loan amount plus interest and fees to the lender. The lender holds onto the check until the borrower’s payday, at which point they cash it. Alternatively, the borrower can authorize the lender to withdraw the loan amount plus interest and fees from their bank account on the due date.

How Do Payday Loans Work in Springfield, Wisconsin?

Payday loans in Springfield, Wisconsin are legal and regulated by state law. To qualify for a payday loan, borrowers must be at least 18 years old, have a regular source of income and an active checking account. In Springfield, Wisconsin, lenders are prohibited from rolling over or refinancing payday loans.

The maximum amount you can borrow in Springfield, Wisconsin through a payday loan is $1,500, or 35% of your gross monthly income, whichever is less. Lenders are required to disclose their fees, terms, and conditions before the borrower signs the loan agreement. The maximum finance charge on a payday loan in Wisconsin is $15.50 per $100 borrowed, and the annual percentage rate (APR) for a 14-day, $100 loan is 391%.

What To Consider Before Applying for a Payday Loan

While payday loans can be a convenient way to access funds quickly, they come with high-interest rates and fees. As such, borrowers should carefully consider their options before taking out a payday loan.

It’s important to understand the terms of the loan, including the interest rate, fees, and due date. Borrowers should also make sure they can repay the loan in full on the due date to avoid additional fees or penalties. Additionally, borrowers should consider alternatives to payday loans, such as personal loans from a bank or credit union, credit card cash advances, or borrowing from family and friends.

Interesting Facts and Statistics About Payday Loans in Springfield, Wisconsin

  • According to the Wisconsin Office of the Commissioner of Insurance, consumers in Wisconsin borrowed more than 247,000 payday loans totaling $122 million in 2019.
  • The average payday loan in Wisconsin in 2019 was $494.12.
  • According to a report by the Center for Responsible Lending, the typical payday loan borrower in Wisconsin takes out an average of 12 loans per year and pays $530 in fees for a single $375 loan.

Apply Now

If you have carefully considered your options and decided that a payday loan is the right choice for you, TheGuaranteedLoans is here to help. We work with a network of lenders to connect borrowers with the option that best meets their needs. Fill out our online application to get started, and we’ll do the rest. It’s important to note that we are a connector service, not a direct lender, and we do not make credit decisions. Instead, we facilitate connections between borrowers and potential lenders.

Conclusion

Payday loans in Springfield, Wisconsin are legal and regulated by state law. They can be a useful option for those in need of immediate access to funds, but they come with high-interest rates and fees. Borrowers should carefully consider their options and understand the terms of the loan before applying. If you do decide to proceed with a payday loan, TheGuaranteedLoans can help connect you with a lender that meets your needs.

F.A.Q.

Can payday loan providers require me to provide collateral for a loan in Springfield, Wisconsin?

No, payday loan providers in Springfield, Wisconsin cannot require you to provide collateral for a loan. Payday loans are unsecured loans, which means that they do not require any collateral.

Can payday loan providers require me to undergo a credit check to apply for a loan in Springfield, Wisconsin?

Yes, payday loan providers in Springfield, Wisconsin may require you to undergo a credit check to apply for a loan. This is to assess your creditworthiness and determine whether you are eligible for a loan. However, payday loans are typically available to borrowers with poor or no credit, so a credit check is not always necessary.