Algoma at a glance
- Population: about 3,217, 205th by size in Wisconsin of 605 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 3,248 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down roughly 1.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Wisconsin places: 205th out of 605 Census places (US Census Bureau).
- Size percentile: roughly 66% of places in Wisconsin rank below it by population (US Census Bureau).
- Coordinates: latitude 44.6057, longitude -87.4480 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Sturgeon Bay, WI (15 mi); Bellevue, WI (27 mi); Green Bay, WI (27 mi); Oconto, WI (29 mi); Suamico, WI (29 mi) (US Census Bureau populations).
- Nearest smaller towns: Forestville, WI (6 mi); Casco, WI (9 mi); Kewaunee, WI (10 mi) (US Census Bureau).
What a personal loan costs in Algoma
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Wisconsin lending rules that apply in Algoma
Each row below is a Wisconsin rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Wisconsin Department of Financial Institutions (DFI), Division of Banking Source says: "Department" means the department of financial institutions | Wisconsin State Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per year maximum ($12 per $100) on the declining principal balance, except as authorized by other statutes (Wis. Stat. § 138.05(1)(a)) Source says: At the rate of $12 upon $100 for one year computed upon the declining principal balance of the loan or forbearance | Wisconsin State Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed by the DFI Division of Banking; statewide database tracking (Wis. Stat. § 138.14) Source says: "Licensee" means a person holding a license issued by the division under sub. (5) | Wisconsin State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed lender license required from the Division of Banking (Wis. Stat. § 138.09) Source says: Before any person may do business under this section, that person shall first obtain a license from the division. | Wisconsin State Legislature as of 2026-09-16 |
How to compare offers in Algoma
Before you share your details with a lender in Algoma:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Wisconsin using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.