Blooming Prairie at a glance
- Population: a Census-estimated 1,952, placing it 268th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,969 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 0.9% below the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 268th of the state's 853 Census places (US Census Bureau).
- Size percentile: ahead of around 69% of Minnesota places in population terms (US Census Bureau).
- Coordinates: 43.8685, -93.0557 (US Census Bureau Gazetteer).
- Nearest larger cities: Austin, MN (14 mi); Dodge Center, MN (15 mi); Owatonna, MN (18 mi); Kasson, MN (19 mi); Albert Lea, MN (21 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Waltham, MN (10 mi); Hayfield, MN (11 mi); Hollandale, MN (11 mi) (US Census Bureau).
What a personal loan costs in Blooming Prairie
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Minnesota lending rules that apply in Blooming Prairie
The table lists the Minnesota rules that apply to a loan made in Blooming Prairie, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Blooming Prairie
The order below is a sensible way to approach a loan in Blooming Prairie:
- 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.