Clinton at a glance
- Population: 376 — 548th in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 386 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 2.6% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 548th out of 853 Census places (US Census Bureau).
- Size percentile: roughly 36% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: 45.4669 latitude, -96.4426 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Graceville, MN (7 mi); Big Stone City, SD (11 mi); Ortonville, MN (11 mi); Chokio, MN (15 mi); Milbank, SD (19 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Barry, MN (8 mi); Johnson, MN (10 mi); Beardsley, MN (15 mi), per US Census Bureau estimates.
What a personal loan costs in Clinton
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the 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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in Clinton
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clinton
These steps are the ones that most affect the offer you receive in Clinton:
- 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.