Salem Lakes at a glance
- Population: roughly 14,367 people; 66th of 605 places in Wisconsin (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 14,604 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.6% below the 2020 Census base (US Census Bureau).
- Rank among Wisconsin places: 66th largest of 605 (US Census Bureau).
- Size percentile: it exceeds roughly 89% of Wisconsin's Census places by population (US Census Bureau).
- Coordinates: 42.5365 latitude, -88.1332 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Antioch, IL (5 mi); Round Lake Beach, IL (11 mi); Pleasant Prairie, WI (12 mi); Kenosha, WI (13 mi); Round Lake, IL (13 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Paddock Lake, WI (3 mi); Twin Lakes, WI (6 mi); Bristol, WI (6 mi), each a US Census place.
What a personal loan costs in Salem Lakes
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Wisconsin lending rules that apply in Salem Lakes
Read the table as the compliance picture for a lender serving Salem Lakes: label, sourced figure, publisher and date.
| 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 Salem Lakes
Here is a short checklist for comparing personal loans in Salem Lakes:
- 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.