Monroe at a glance
- Population: about 10,439, 93rd by size in Wisconsin of 605 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 10,667 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a loss of about 2.1% since the 2020 count (US Census Bureau).
- Rank among Wisconsin places: the 93rd-largest of 605 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 85% of places in Wisconsin rank below it by population (US Census Bureau).
- Coordinates: 42.6030 latitude, -89.6376 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Freeport, IL (22 mi); Oregon, WI (26 mi); Verona, WI (27 mi); Fitchburg, WI (29 mi); Stoughton, WI (31 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Browntown, WI (8 mi); Orangeville, IL (9 mi); Monticello, WI (10 mi) (US Census Bureau).
What a personal loan costs in Monroe
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Wisconsin lending rules that apply in Monroe
The sourced rows below are the rules a licensed lender must follow when lending in Wisconsin, and therefore in Monroe.
| 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 Monroe
Run through this list before signing anything in Monroe:
- 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.