Bayfield at a glance
- Population: a Census-estimated 603, placing it 447th among Wisconsin's 605 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 586 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 2.9% growth over the 2020 Census base (US Census Bureau).
- Rank among Wisconsin places: 447th in population of 605 places (US Census Bureau).
- Size percentile: larger than about 26% of the Census places in Wisconsin (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 46.8161, -90.8248.
- Nearest larger cities: Washburn, WI (10 mi); Ashland, WI (16 mi); Mellen, WI (35 mi); Montreal, WI (38 mi); Hurley, WI (39 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Mason, WI (29 mi); Beaver Bay, MN (38 mi); Butternut, WI (58 mi) (US Census Bureau).
What a personal loan costs in Bayfield
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Bayfield
The table lists the Wisconsin rules that apply to a loan made in Bayfield, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Bayfield
These steps are the ones that most affect the offer you receive in Bayfield:
- 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.