Gary at a glance
- Population: 223 residents, the 629th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 226 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down roughly 1.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 629th by size among 853 communities (US Census Bureau).
- Size percentile: larger than about 26% of the Census places in Minnesota (US Census Bureau).
- Coordinates: mapped at 47.3740, -96.2656 by the US Census Bureau Gazetteer.
- Nearest larger cities: Twin Valley, MN (8 mi); Fertile, MN (11 mi); Ada, MN (13 mi); Mahnomen, MN (15 mi); Waubun, MN (20 mi) — straight-line distances, US Census Bureau populations.
- Smaller places nearby: Bejou, MN (15 mi); Beltrami, MN (17 mi); Winger, MN (17 mi), per US Census Bureau estimates.
What a personal loan costs in Gary
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Gary
Each row below is a Minnesota rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Gary
The steps below are worth completing first when you borrow in Gary:
- 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.