Henning at a glance
- Population: about 859, 379th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 858 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up roughly 0.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 379th-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 56% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: 46.3231, -95.4420 (US Census Bureau Gazetteer).
- Nearest larger cities: Parkers Prairie, MN (13 mi); Battle Lake, MN (13 mi); New York Mills, MN (14 mi); Wadena, MN (17 mi); Perham, MN (20 mi), each a US Census place with its estimated population.
- Smaller places nearby: Vining, MN (6 mi); Deer Creek, MN (7 mi); Ottertail, MN (10 mi), per US Census Bureau estimates.
What a personal loan costs in Henning
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Minnesota lending rules that apply in Henning
The Minnesota rate caps and licensing rules that reach Henning 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 Henning
Before you share your details with a lender in Henning:
- 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.