Bigfork at a glance
- Population: 407 — 531st in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 408 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 0.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 531st-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 38% of the places in Minnesota (US Census Bureau).
- Coordinates: mapped at 47.7469, -93.6533 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Deer River, MN (29 mi); Taconite, MN (32 mi); Bovey, MN (33 mi); Marble, MN (33 mi); Nashwauk, MN (34 mi) (US Census Bureau).
- Smaller towns nearby: Effie, MN (7 mi); Squaw Lake, MN (24 mi); Mizpah, MN (29 mi) (US Census Bureau).
What a personal loan costs in Bigfork
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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 Bigfork
Each row below is a Minnesota rule with its publisher and the date it was retrieved.
| 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 Bigfork
The steps below are worth completing first when you borrow in Bigfork:
- 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.