Deer Creek at a glance
- Population: a Census-estimated 332, placing it 570th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 332 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about the same as at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 570th by size among 853 communities (US Census Bureau).
- Size percentile: it exceeds roughly 33% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 46.3897, -95.3208 (US Census Bureau Gazetteer).
- Nearest larger cities: Henning, MN (7 mi); New York Mills, MN (9 mi); Wadena, MN (10 mi); Ottertail, MN (12 mi); Verndale, MN (15 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Bluffton, MN (7 mi); Hewitt, MN (12 mi); Vining, MN (14 mi) — US Census Bureau populations.
What a personal loan costs in Deer Creek
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Minnesota lending rules that apply in Deer Creek
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Deer Creek
These steps are the ones that most affect the offer you receive in Deer Creek:
- 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.