Kasota at a glance
- Population: about 714, 413th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 718 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population fell about 0.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 413th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 52% of Minnesota places in population terms (US Census Bureau).
- Coordinates: 44.2919 / -93.9685, per the US Census Bureau Gazetteer.
- Nearest larger cities: St. Peter, MN (3 mi); Cleveland, MN (7 mi); Mankato, MN (8 mi); North Mankato, MN (8 mi); Madison Lake, MN (9 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Skyline, MN (11 mi); Kilkenny, MN (20 mi); Good Thunder, MN (20 mi), per US Census Bureau estimates.
What a personal loan costs in Kasota
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Kasota
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Kasota.
| 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 Kasota
Before you commit to a personal loan in Kasota, work through these steps:
- 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.