Brookston at a glance
- Population: a Census-estimated 113, placing it 740th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 114 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down roughly 0.9% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 740th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 13% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 46.8651, -92.6017.
- Nearest larger cities: Cloquet, MN (11 mi); Scanlon, MN (14 mi); Floodwood, MN (15 mi); Meadowlands, MN (16 mi); Carlton, MN (17 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Tamarack, MN (29 mi); Kerrick, MN (36 mi); Iron Junction, MN (38 mi) (US Census Bureau).
What a personal loan costs in Brookston
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
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.
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 Brookston
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Brookston
The steps below are worth completing first when you borrow in Brookston:
- 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.