Wisconsin – Why The State Is Acknowledged and Payday Lending Market
Wisconsin is a US state located in the north of the central country part.
The name of the state comes from the Wisconsin River. Although the exact etymology of this name is unknown. It is believed that it came to the English language through the French interpretation of the Native American name. Most likely, the French recorded as Ouisconsin the word Miskasinsin from the Ojibwe language, meaning “place of the red stone.” However, it is possible that the name came from words meaning “gathering of waters” or “big rock”. The name is usually abbreviated as WI, Wis, or Wisc.
Two battleships USS Wisconsin are named after the state.
Payday lending options in Wisconsin
Payday lenders claim they offer services not offered by bank institutions. People who use payday loans opt for them instead of risking more expensive fees and other bank penalties.
Wisconsin payday loans are accessible in amounts from $300 up to $5,000 if you meet some qualifications. Late payments may fine a fee of $10 or 5% of the unpaid amount. The average APR on payday loans in Wisconsin is 495.50%.
Loans are credited directly into your bank account and paid off over several months with bi-weekly, semi-monthly or monthly payments. These payments are typically bound to your payment schedule. If you opt for making extra loan payments more frequently than your loan agreement requires, you may decrease the amount of finance costs paid.
If we are going to compare two states – Wisconsin and Georgia, the following picture takes place:
- finance fees. If the amount of your online payday loans Georgia is not bigger than $30, payday lenders have no right to charge more than $1 per every $5 you borrow;
- maximum APR. When issuing a 14-day $100 loan, the maximum APR is 309%;
- acquisition charges. If the amount of the borrowed cash is between $30 and $100, a legit acquisition is 1/10 charge of the payday amount. If your loan exceeds $100, the acquisition charge cannot be over $10.
- maximum amount. The maximum amount of a payday loan in Georgia is not defined.
- maximum term. The terms of payday loans in Georgia (GA) vary from one week to 31 days.
Geographic details of Wisconsin
Wisconsin is often referred to as America’s Dairy Farm, as the state is famous for its cheese production. A common stereotype is that Wisconsin is a province with nothing but cows. Residents of the state are sometimes jokingly called cheeseheads. Since in the early 20th century, like other states in the continental north, Wisconsin was populated mainly by Germans, it produces and consumes large quantities of beer.
Wisconsin’s two main cities, Milwaukee and the capital, Madison, are centers of cultural life in the state. Madison is home to the University of Wisconsin, one of the top public universities in the United States, and the small city is mostly built around it. In contrast, Milwaukee is a large city and part of the Chicago megalopolis. The Milwaukee Museum of Art is renowned for its distinctive architecture.
The northern state border is Lake Superior and the border with Michigan, which runs in places along the Montreal and Menominee rivers. To the east, Wisconsin is bordered by Lake Michigan, to the south by Illinois, and to the west by Iowa and Minnesota, mainly along the Mississippi and Saint Croix rivers.
Wisconsin is a major producer of not only cheese, but beer and sausages, as well as the largest state producer of cranberries, ginseng, and stationery. Although Wisconsin now produces less milk than California, it is still the largest per capita milk producer in the United States. Wisconsin hosts a number of all-American festivals like the Oshkosh Airplane Show. Finally, the University of Wisconsin is an international center for stem cell research.
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