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Wisconsin Installment Loan

An installment loan is a medium-term loan, usually with a higher principal amount than short-term loans. It is repaid gradually in installments over 6 to 9 months. This loan may be repaid early at any time with no prepayment charges.

View our license and/or registration here.

Rates & Terms

Loan Amount

$300 – $1,000

Annual Percentage Rate

241% – 449%

Loan Term

6 – 9 months

Late Fee

5% of the unpaid installment payment or $10, whichever is less, if a payment is more than 10 days late.

Actual loan terms may vary based on applicant's qualifications.

APRs may vary based on applicant's qualifications. APRs below 241% are available to existing customers with a positive payment history with CashNetUSA.

How It Works

  1. Apply online in minutes.

  2. Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documents like paystubs or other proof of income.

  3. Apply early and receive funds as soon as the same business day, if approved.

  4. Repay over your scheduled loan term. You are free to repay early at any time with no penalty.

What It Costs

The chart below represents illustrative examples of the cost of a $1,000 loan. Rates and terms vary based on loan amount. Please see your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan. If you have any questions or would like more information, please ask. Make certain the questions that you ask are answered. Make certain you understand the terms and costs of your loan.

If you repaid once a month, you would make nine (9) payments of $271.14 and one (1) final payment of $270.95:

APR

324.99%

Finance Charge

$1,711.21

Amount Financed

$1,000

Total of Payments

$2,711.21

If you repaid biweekly, you would make 19 payments of $142.59 and one (1) final payment of $142.20:

APR

323.74%

Finance Charge

$1,851.41

Amount Financed

$1,000

Total of Payments

$2,851.41

With an actual installment loan, your repayment might look different than the examples above. For instance, you may be able to borrow more money, or have a longer or shorter repayment period. Or your APR might be different, affecting the total cost of credit.

Requirements to Apply for a CashNetUSA Loan

In order to be eligible for any CashNetUSA loan, you must meet our requirements:

18 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Governing Law

The loan agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

State License
State License

Terms Explained

Amount Financed

This is the loan amount.

Example: Jane Smith is approved for a $1,000 loan. This $1,000 is the amount financed.

Loan Term

Your loan term is the amount of time over which you are scheduled to repay your loan. You may also repay early with no penalty.

Example: Based on her application, Jane will make 10 monthly payments. That means her loan term is 10 months.

Finance Charge

The finance charge is the dollar amount your loan will cost you, in addition to the amount financed.

Example: Based on her interest rate, amount financed and loan term, Jane will be charged $1,711.21 in interest as her finance charge.

Total of Payments

This is the sum of the amount financed and the finance charge. It is the total amount you must repay.

Example: Adding together her amount financed and finance charge, Jane’s total of payments comes to $2,711.21.

APR

APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate. Our installment loan APRs fall over a range of 241% – 449%.

Wisconsin Line of Credit

With a line of credit, you apply only once and can draw up to your available credit limit, repaying principal, interest and fees based on how much you’ve drawn.

When you need more funds, you can draw up to your available credit limit without reapplying.

View our license and/or registration here.

Rates & Terms

Credit Limit

$1,550 - $3,000

Interest

The daily periodic rate applied to your account will be 0.8192%.
Annual Percentage Rate: The corresponding Annual Percentage Rate is 299%.

Transaction Fee

When you draw, you will be charged 15% of the amount drawn.

Late Fee

If a minimum payment is 10 days late, you will be charged a $15 fee.

Actual line of credit terms may vary based on applicant's qualifications.

How It Works

  1. Apply in less than 5 minutes.

  2. Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documentation like proof of income.

  3. If approved, receive a credit limit and draw money from your line of credit — you can draw as many times as you want, whenever you want, up to your available credit limit (minimum $50 draw).

  4. Request a draw before 1:00 p.m. CT Monday – Friday, and you will generally receive funds that same business day.

  5. Repay gradually over time or in full. Every billing cycle, you will have a minimum payment. You can pay more with no penalty in order to repay more quickly.

  6. Increase your available credit as you repay, freeing up funds to draw, up to your credit limit.

  7. Draw from your available credit whenever you need funds.

What It Costs

With a line of credit, interest is calculated based on outstanding principal, while minimum payments are calculated based on outstanding principal, interest and fees. These numbers can change from payment to payment. That means your minimum payment will usually change from one payment period to the next.

Below, you can see an example of what it might cost to draw $1,000 once from a $2,000 line of credit and make different kinds of repayments.

If you make only your minimum payment bi-weekly, your repayment will look like this:

Number of Bi-Weekly Payments

13

Total Repayment Time

6.5 months

APR

299%

Fees and Interest Paid

$1,158.10

Total Repayment

$2,158.10

If you were to repay more than the minimum each billing cycle, the time it would take to pay off your balance would go down, as would your repayment total. If you made nine bi-weekly payments of $200 and one payment of $125.54, your repayment would look like this:

Number of Bi-Weekly Payments

10

Total Repayment Time

4.5 months

APR

299%

Fees and Interest Paid

$925.64

Total Repayment

$1,925.54

With an actual line of credit, your repayment might look different than the examples above. For instance, you could draw more money in the middle of a billing period, increasing your total repayment. Or you might repay a large sum all at once, reducing the cost and length of your repayment period.

Requirements to Apply for a CashNetUSA Loan

In order to be eligible for any CashNetUSA product, you must meet our requirements:

18 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Governing Law

The line of credit agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

State License
State License

Terms Explained

Account Balance

Your account balance, or outstanding balance, is the total amount due to CashNetUSA. This includes your principal balance, interest and fees charged.

Example: Jane Smith looks at her account and has an account balance of $500. This is the total amount she currently owes.

Billing Period

Your billing period is the length of time between when your billing statement opens and closes. Depending on how often you’re paid, these periods might be bi-weekly, bi-monthly or monthly.

Example: Based on her application, Jane’s billing period is bi-weekly. This means her statements will close every 14 days.

Principal Balance

Your principal balance is the amount you have drawn minus any principal payments you have made.

Example: As soon as she draws, Jane has a principal balance of $500. This will drop or rise as she makes payments and draws more.

Transaction Fee

Each time you draw funds, you will be charged a transaction fee of 15% of the amount drawn.

Example: If Jane draws $100, she will be charged $15 in transaction fees.

Late Fee

If a minimum payment is 10 days late, you will be charged a $15 fee.

Interest

Interest is calculated based on your outstanding principal. The daily interest rate for our line of credit is 0.8192%.

APR

APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate. Our line of credit has an APR of 299%.

Minimum Payment

The minimum payment is the amount you must pay on each due date. This amount will depend on whether your billing period is bi-weekly, bi-monthly or monthly.

The minimum payment for bi-weekly and bi-monthly billing cycles will be the greater of:

  • The lesser of 10% of your credit limit or $175 OR
  • All interest accrued at the end of the prior billing period plus 5% of the total of outstanding principal and fees

The minimum payment for monthly billing cycles will be the greater of:

  • 10% of your credit limit OR
  • All interest accrued at the end of the prior billing period plus 12% of the total of outstanding principal and fees

The minimum payment cannot exceed the account balance. In addition, minimum payments cannot exceed $450 for bi-weekly and bi-monthly customers, or $800 for monthly customers.

Example: Jane is on a bi-weekly billing cycle. At the start of her billing period, she has an outstanding principal balance of $800, and she does not take any additional draws or make any early payments. She is charged $91.74 in interest, and her minimum payment amount is $131.74.