Genola at a glance
- Population: a Census-estimated 72, placing it 793rd among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 72 residents here (US Census Bureau).
- 2020 to 2023 change: essentially flat from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 793rd out of 853 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 7% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: latitude 45.9655, longitude -94.1128 (US Census Bureau Gazetteer).
- Nearest larger cities: Pierz, MN (1 mi); Buckman, MN (5 mi); Lastrup, MN (6 mi); Harding, MN (11 mi); Little Falls, MN (12 mi), each a US Census place with its estimated population.
- Smaller places close by: Hillman, MN (11 mi); St. Rosa, MN (33 mi); McGrath, MN (44 mi) (US Census Bureau).
What a personal loan costs in Genola
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
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.
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 Genola
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Genola.
| 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 Genola
Before you share your details with a lender in Genola:
- 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.