Becker at a glance
- Population: the Census estimates 5,074 residents, ranking 150th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 4,883 residents here (US Census Bureau).
- 2020 to 2023 change: about 3.9% more residents than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 150th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 82% of Minnesota places in population terms (US Census Bureau).
- Coordinates: it sits at 45.3865, -93.8873 in the US Census Bureau Gazetteer.
- Nearest larger cities: Big Lake, MN (8 mi); Monticello, MN (8 mi); Buffalo, MN (14 mi); Zimmerman, MN (15 mi); Albertville, MN (15 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Clear Lake, MN (7 mi); Clearwater, MN (8 mi); Maple Lake, MN (12 mi) (US Census Bureau).
What a personal loan costs in Becker
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Minnesota lending rules that apply in Becker
Read the table as the compliance picture for a lender serving Becker: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Becker
The steps below are worth completing first when you borrow in Becker:
- 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.