Lauderdale at a glance
- Population: the Census estimates 2,326 residents, ranking 245th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 2,268 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 2.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 245th-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 71% of the places in Minnesota (US Census Bureau).
- Coordinates: mapped at 44.9944, -93.2031 by the US Census Bureau Gazetteer.
- Nearest larger cities: Falcon Heights, MN (1 mi); St. Anthony, MN (3 mi); Roseville, MN (3 mi); Minneapolis, MN (4 mi); Columbia Heights, MN (4 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Hilltop, MN (5 mi); Lilydale, MN (7 mi); Mendota, MN (8 mi), each a US Census place.
What a personal loan costs in Lauderdale
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Minnesota lending rules that apply in Lauderdale
The Minnesota rate caps and licensing rules that reach Lauderdale are listed below, each with its source and retrieval date.
| 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 Lauderdale
Here is a short checklist for comparing personal loans in Lauderdale:
- 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.