Bemidji at a glance
- Population: about 15,743, 72nd by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 15,430 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: an increase of about 2.0% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: 72nd largest of 853 (US Census Bureau).
- Size percentile: about 92% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: latitude 47.4870, longitude -94.8827 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Hibbing, MN (91 mi); Moorhead, MN (97 mi); Fargo, ND (101 mi); West Fargo, ND (104 mi); Grand Forks, ND (107 mi) (US Census Bureau).
- Nearest smaller communities: Wilton, MN (6 mi); Turtle River, MN (9 mi); Solway, MN (12 mi) (Census populations).
What a personal loan costs in Bemidji
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Minnesota lending rules that apply in Bemidji
The Minnesota rate caps and licensing rules that reach Bemidji are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Bemidji
A few practical steps will make the process in Bemidji less costly:
- 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.