Bowlus at a glance
- Population: 270 (US Census Bureau, Vintage 2023 subcounty estimate), the 603rd-largest of 853 places in Minnesota.
- 2020 Census base: 274 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 1.5% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: 603rd in population of 853 places (US Census Bureau).
- Size percentile: it exceeds roughly 29% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 45.8191, -94.4072 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Royalton, MN (6 mi); Holdingford, MN (7 mi); Upsala, MN (8 mi); Rice, MN (9 mi); St. Stephen, MN (10 mi); US Census Bureau population estimates.
- Nearest smaller places: Elmdale, MN (4 mi); Sobieski, MN (8 mi); Flensburg, MN (11 mi) (US Census Bureau estimates).
What a personal loan costs in Bowlus
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in Bowlus
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Bowlus.
| 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 Bowlus
Before you commit to a personal loan in Bowlus, work through these steps:
- 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.