Brownsdale at a glance
- Population: 631 (US Census Bureau, Vintage 2023 subcounty estimate), the 444th-largest of 853 places in Minnesota.
- 2020 Census base: 630 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a gain of roughly 0.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 444th by size among 853 communities (US Census Bureau).
- Size percentile: larger than about 48% of the Census places in Minnesota (US Census Bureau).
- Coordinates: it sits at 43.7405, -92.8683 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Austin, MN (7 mi); Hayfield, MN (10 mi); Blooming Prairie, MN (13 mi); Adams, MN (14 mi); Grand Meadow, MN (15 mi) (US Census Bureau).
- Nearest smaller towns: Waltham, MN (5 mi); Sargeant, MN (6 mi); Mapleview, MN (6 mi) (US Census Bureau).
What a personal loan costs in Brownsdale
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Minnesota lending rules that apply in Brownsdale
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 Brownsdale
These steps are the ones that most affect the offer you receive in Brownsdale:
- 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.