Balsam Lake at a glance
- Population: a Census-estimated 922, placing it 376th among Wisconsin's 605 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 938 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 1.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Wisconsin places: 376th by size among 605 communities (US Census Bureau).
- Size percentile: about 38% of Wisconsin's Census places are smaller (US Census Bureau).
- Coordinates: latitude 45.4620, longitude -92.4471 (US Census Bureau Gazetteer).
- Nearest larger cities: Milltown, WI (5 mi); Luck, WI (8 mi); St. Croix Falls, WI (9 mi); Dresser, WI (11 mi); Amery, WI (12 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Centuria, WI (5 mi); Clayton, WI (17 mi); Center City, MN (18 mi) — US Census Bureau populations.
What a personal loan costs in Balsam Lake
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Wisconsin lending rules that apply in Balsam Lake
The sourced rows below are the rules a licensed lender must follow when lending in Wisconsin, and therefore in Balsam Lake.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Balsam Lake
The steps below are worth completing first when you borrow in Balsam Lake:
- 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.