Hawley at a glance
- Population: the Census estimates 2,283 residents, ranking 248th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 2,236 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population rose about 2.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 248th of the state's 853 Census places (US Census Bureau).
- Size percentile: about 71% of places in Minnesota are smaller (US Census Bureau).
- Coordinates: 46.8774 / -96.3200, per the US Census Bureau Gazetteer.
- Nearest larger cities: Barnesville, MN (16 mi); Dilworth, MN (18 mi); Moorhead, MN (20 mi); Detroit Lakes, MN (23 mi); Pelican Rapids, MN (24 mi); US Census Bureau population estimates.
- Smaller places nearby: Hitterdal, MN (8 mi); Lake Park, MN (10 mi); Glyndon, MN (12 mi), per US Census Bureau estimates.
What a personal loan costs in Hawley
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Minnesota lending rules that apply in Hawley
The Minnesota rate caps and licensing rules that reach Hawley are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hawley
The steps below are worth completing first when you borrow in Hawley:
- 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.