Kandiyohi at a glance
- Population: 558 (US Census Bureau, Vintage 2023 subcounty estimate), the 466th-largest of 853 places in Minnesota.
- 2020 Census base: 573 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 2.6% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: 466th of the state's 853 Census places (US Census Bureau).
- Size percentile: roughly 45% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: 45.1315 latitude, -94.9328 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Willmar, MN (6 mi); Spicer, MN (7 mi); Atwater, MN (8 mi); New London, MN (11 mi); Grove City, MN (12 mi) (US Census Bureau).
- Nearest smaller communities: Pennock, MN (12 mi); Lake Lillian, MN (13 mi); Blomkest, MN (14 mi) (Census populations).
What a personal loan costs in Kandiyohi
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Minnesota lending rules that apply in Kandiyohi
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Kandiyohi
The steps below are worth completing first when you borrow in Kandiyohi:
- 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.