Aldrich at a glance
- Population: roughly 34 people; 841st of 853 places in Minnesota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 34 residents here (US Census Bureau).
- 2020 to 2023 change: under a tenth of a percent either way (US Census Bureau Vintage 2023 estimate).
- Rank among Minnesota places: 841st by size among 853 communities (US Census Bureau).
- Size percentile: roughly 1% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: latitude 46.3747, longitude -94.9394 (US Census Bureau Gazetteer).
- Nearest larger cities: Verndale, MN (4 mi); Staples, MN (6 mi); Hewitt, MN (8 mi); Bertha, MN (9 mi); Wadena, MN (10 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: Hillman, MN (56 mi); Boy River, MN (67 mi); White Rock, SD (84 mi) (US Census Bureau estimates).
What a personal loan costs in Aldrich
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in Aldrich
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Aldrich.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Minnesota Department of Commerce (commissioner of commerce) Source says: ""Commissioner" means the commissioner of commerce" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Payday ability-to-repay requirement | Required for payday loans with an APR above 36% (Minn. Stat. § 47.603) Source says: "This section applies to all payday loans with an annual percentage rate that exceeds 36 percent." | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per year legal rate of interest; a different rate may be contracted for in writing (Minn. Stat. § 334.01) Source says: "The interest for any legal indebtedness shall be at the rate of $6 upon $100 for a year" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed; APR capped at 36%, or up to 50% with an ability-to-repay analysis (Minn. Stat. §§ 47.60, 47.601, 47.603) Source says: "The cap on that annual percentage rate is set at either 36%, or up to 50% if the lender conducts an ability to repay analysis" | Minnesota Department of Commerce as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated loan license required from the commissioner for loans within the Chapter 56 threshold (Minn. Stat. § 56.01) Source says: "without first obtaining a license from the commissioner, no person shall engage in the business of making loans of money" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
How to compare offers in Aldrich
Here is a short checklist for comparing personal loans in Aldrich:
- 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 Minnesota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.