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Personal loans in Elroy, WI

In Elroy, a personal loan gives you a lump sum repaid over a set term, with the lender setting your APR from your credit, income and debts. With roughly 1,326 people, Elroy ranks 324th of 605 Census places in Wisconsin. Wisconsin's rate ceilings and lender-licensing requirements appear below, each with the publisher and date behind it.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Elroy at a glance

  • Population: 1,326 — 324th in Wisconsin, which has 605 Census places (US Census Bureau, Vintage 2023).
  • 2020 Census base: 1,355 residents in the 2020 Census, per the US Census Bureau.
  • 2020 to 2023 change: population fell about 2.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
  • Rank among Wisconsin places: 324th out of 605 Census places (US Census Bureau).
  • Size percentile: larger than about 46% of the Census places in Wisconsin (US Census Bureau).
  • Coordinates: latitude 43.7416, longitude -90.2702 (US Census Bureau Gazetteer).
  • Nearest larger cities: Hillsboro, WI (7 mi); Mauston, WI (10 mi); New Lisbon, WI (11 mi); Reedsburg, WI (20 mi); Tomah, WI (21 mi); each population is a US Census Bureau estimate.
  • Nearest smaller towns: Union Center, WI (4 mi); Kendall, WI (6 mi); Wonewoc, WI (7 mi) (US Census Bureau).

What a personal loan costs in Elroy

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.

Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.

Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.

Wisconsin lending rules that apply in Elroy

Where a figure is not published by the state, the row points to the source instead of guessing.

RuleDetailSource
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 statusLegal 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 licensingLicensed 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 regulatorWisconsin 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 Elroy

Before you share your details with a lender in Elroy:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Wisconsin using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Elroy?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Elroy are the same as elsewhere in Wisconsin.
How much can I borrow with a personal loan in Elroy?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Elroy require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Elroy hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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