Battle Lake at a glance
- Population: a Census-estimated 911, placing it 371st among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 860 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 5.9% higher than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 371st by size among 853 communities (US Census Bureau).
- Size percentile: it exceeds roughly 57% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 46.2849, -95.7187 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Fergus Falls, MN (17 mi); Parkers Prairie, MN (21 mi); Perham, MN (23 mi); New York Mills, MN (23 mi); Elbow Lake, MN (24 mi) (US Census Bureau).
- Nearest smaller towns: Clitherall, MN (4 mi); Underwood, MN (7 mi); Vining, MN (9 mi) — US Census Bureau populations.
What a personal loan costs in Battle Lake
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Minnesota lending rules that apply in Battle Lake
The Minnesota rate caps and licensing rules that reach Battle Lake are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Battle Lake
Before you share your details with a lender in Battle Lake:
- 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.