Chisholm at a glance
- Population: a Census-estimated 4,687, placing it 163rd among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 4,772 residents here (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 1.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 163rd by size among 853 communities (US Census Bureau).
- Size percentile: larger than about 81% of the Census places in Minnesota (US Census Bureau).
- Coordinates: 47.4875 / -92.8794, per the US Census Bureau Gazetteer.
- Nearest larger cities: Hibbing, MN (7 mi); Virginia, MN (17 mi); Grand Rapids, MN (35 mi); Cloquet, MN (56 mi); Hermantown, MN (56 mi) — straight-line distances, US Census Bureau populations.
- Smaller places nearby: Buhl, MN (5 mi); Kinney, MN (8 mi); Keewatin, MN (11 mi), per US Census Bureau estimates.
What a personal loan costs in Chisholm
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Chisholm
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Chisholm.
| 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 Chisholm
These steps are the ones that most affect the offer you receive in Chisholm:
- 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.