Kasson at a glance
- Population: a Census-estimated 7,126, placing it 128th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 6,873 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 3.7% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: 128th in population of 853 places (US Census Bureau).
- Size percentile: roughly 85% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.0332, -92.7486.
- Nearest larger cities: Rochester, MN (13 mi); Owatonna, MN (24 mi); Austin, MN (27 mi); Faribault, MN (32 mi); Northfield, MN (36 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Mantorville, MN (2 mi); Dodge Center, MN (5 mi); Byron, MN (5 mi) — US Census Bureau populations.
What a personal loan costs in Kasson
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Kasson
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Kasson.
| 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 Kasson
These steps are the ones that most affect the offer you receive in Kasson:
- 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.