Long Beach at a glance
- Population: 339 residents, the 565th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 342 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 0.9% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 565th out of 853 Census places (US Census Bureau).
- Size percentile: roughly 34% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: 45.6521 latitude, -95.4308 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Glenwood, MN (2 mi); Starbuck, MN (6 mi); Alexandria, MN (16 mi); Brooten, MN (19 mi); Osakis, MN (20 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Lowry, MN (6 mi); Villard, MN (9 mi); Forada, MN (10 mi), each a US Census place.
What a personal loan costs in Long Beach
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 is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Long Beach
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Long Beach.
| 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 Long Beach
These steps are the ones that most affect the offer you receive in Long Beach:
- 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.