Grove City at a glance
- Population: 632 — 443rd in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 626 (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 1.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 443rd of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 48% of Minnesota places in population terms (US Census Bureau).
- Coordinates: 45.1492, -94.6825 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Atwater, MN (5 mi); Litchfield, MN (8 mi); Spicer, MN (14 mi); Eden Valley, MN (14 mi); Paynesville, MN (16 mi) (US Census Bureau).
- Nearest smaller communities: Kandiyohi, MN (12 mi); Darwin, MN (13 mi); Cosmos, MN (15 mi) (Census populations).
What a personal loan costs in Grove City
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in Grove City
Read the table as the compliance picture for a lender serving Grove City: label, sourced figure, publisher and date.
| 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 Grove City
Before you share your details with a lender in Grove City:
- 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.