Jackson at a glance
- Population: about 3,272, 204th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 3,319 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 204th by size among 853 communities (US Census Bureau).
- Size percentile: it exceeds roughly 76% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 43.6257 latitude, -94.9886 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Spirit Lake, IA (16 mi); Estherville, IA (17 mi); Windom, MN (18 mi); Milford, IA (21 mi); Fairmont, MN (26 mi); US Census Bureau population estimates.
- Nearest smaller towns: Alpha, MN (6 mi); Lakefield, MN (10 mi); Dunnell, MN (12 mi) (US Census Bureau).
What a personal loan costs in Jackson
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Minnesota lending rules that apply in Jackson
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Jackson.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Jackson
The order below is a sensible way to approach a loan in Jackson:
- 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.