Crosby at a glance
- Population: 2,355 people, the 243rd-largest place among Minnesota's 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,360 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 0.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 243rd by size among 853 communities (US Census Bureau).
- Size percentile: larger than about 72% of the Census places in Minnesota (US Census Bureau).
- Coordinates: mapped at 46.4933, -93.9457 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Crosslake, MN (15 mi); Breezy Point, MN (15 mi); Brainerd, MN (15 mi); Pequot Lakes, MN (18 mi); Baxter, MN (19 mi) (US Census Bureau).
- Nearest smaller towns: Cuyuna, MN (2 mi); Ironton, MN (3 mi); Deerwood, MN (3 mi) — US Census Bureau populations.
What a personal loan costs in Crosby
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
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.
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 Crosby
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Crosby.
| 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 Crosby
Before you share your details with a lender in Crosby:
- 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.