diff --git a/axes/helpers.py b/axes/helpers.py
index da9ae2b..719ffc4 100644
--- a/axes/helpers.py
+++ b/axes/helpers.py
@@ -255,6 +255,8 @@ def get_query_str(query: Type[QueryDict], max_length: int = 1024) -> str:
 def get_failure_limit(request, credentials) -> int:
     if callable(settings.AXES_FAILURE_LIMIT):
         return settings.AXES_FAILURE_LIMIT(request, credentials)
+    if isinstance(settings.AXES_FAILURE_LIMIT, str):
+        return import_string(settings.AXES_FAILURE_LIMIT)(request, credentials)
     if isinstance(settings.AXES_FAILURE_LIMIT, int):
         return settings.AXES_FAILURE_LIMIT
     raise TypeError('settings.AXES_FAILURE_LIMIT needs to be a callable or an integer')
diff --git a/axes/tests/base.py b/axes/tests/base.py
index 499be9d..d27f858 100644
--- a/axes/tests/base.py
+++ b/axes/tests/base.py
@@ -23,6 +23,10 @@ from axes.helpers import (
 from axes.models import AccessAttempt
 
 
+def custom_failure_limit(request, credentials):
+    return 3
+
+
 class AxesTestCase(TestCase):
     """
     Test case using custom settings for testing.
diff --git a/axes/tests/test_handlers.py b/axes/tests/test_handlers.py
index e90eafe..327e847 100644
--- a/axes/tests/test_handlers.py
+++ b/axes/tests/test_handlers.py
@@ -115,7 +115,11 @@ class AxesDatabaseHandlerTestCase(AxesHandlerBaseTestCase):
     def test_handler_callable_failure_limit(self):
         self.check_handler()
 
-    @override_settings(AXES_FAILURE_LIMIT='3')
+    @override_settings(AXES_FAILURE_LIMIT='axes.tests.base.custom_failure_limit')
+    def test_handler_str_failure_limit(self):
+        self.check_handler()
+
+    @override_settings(AXES_FAILURE_LIMIT=None)
     def test_handler_invalid_failure_limit(self):
         with self.assertRaises(TypeError):
             self.check_handler()