Keewatin at a glance
- Population: 971 — 362nd in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 980 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 0.9% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 362nd in population of 853 places (US Census Bureau).
- Size percentile: it is larger than about 58% of the places in Minnesota (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 47.3994, -93.0842.
- Nearest larger cities: Hibbing, MN (6 mi); Chisholm, MN (11 mi); Coleraine, MN (20 mi); Grand Rapids, MN (24 mi); Mountain Iron, MN (24 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Nashwauk, MN (4 mi); Calumet, MN (10 mi); Marble, MN (11 mi) — US Census Bureau populations.
What a personal loan costs in Keewatin
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Minnesota lending rules that apply in Keewatin
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Keewatin
These steps are the ones that most affect the offer you receive in Keewatin:
- 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.