Luverne at a glance
- Population: 26, the 317th-largest community in North Dakota out of 355 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 26 (US Census Bureau).
- 2020 to 2023 change: about the same as at the 2020 Census (US Census Bureau).
- Rank among North Dakota places: 317th of 355 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 11% of places in North Dakota rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 47.2514, -97.9348.
- Nearest larger cities (120-mile radius): Hope, ND (11 mi); Hannaford, ND (13 mi); Dazey, ND (13 mi); Cooperstown, ND (16 mi); Rogers, ND (18 mi) (US Census Bureau).
- Nearest smaller communities: Sibley, ND (3 mi); Pillsbury, ND (7 mi); Leal, ND (21 mi) (Census populations).
What a personal loan costs in Luverne
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
North Dakota lending rules that apply in Luverne
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Formula ceiling: 6-month U.S. Treasury bill average + 5.5 percentage points, never less than 7%; NDDFI-published rate for September 2026: 9.204%. Source says: "The rate is equal to five and one-half percent (5.5%) higher than the current cost of money" and "the maximum allowable interest rate ceiling may not be less than seven (7) percent" (NDDFI Usury Rate page; September 2026 rate 9.204%). | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Payday lending status | Legal for licensed deferred presentment service providers; fee capped at 20% of amount advanced; max $500 per transaction; $600 aggregate outstanding per customer. Source says: "A licensee may charge a fee for the deferred presentment service, not to exceed twenty percent of the amount paid to the customer" (N.D.C.C. 13-08-12); "may not disburse more than five hundred dollars to the customer in a deferred presentment service transaction" (13-08-12.3). | North Dakota Legislative Branch as of 2026-09-16 |
| Small-loan / installment lender licensing | Money broker license required to engage in money brokering (arranging/providing loans); issued by the commissioner of financial institutions. Source says: "may not engage in money brokering in the state of North Dakota without a money broker license issued by the commissioner" (N.D.C.C. 13-04.1-02). | North Dakota Legislative Branch as of 2026-09-16 |
| State lending regulator | North Dakota Department of Financial Institutions (NDDFI) Source says: "The Department also licenses and regulates Money Brokers... Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters." | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Usury penalties (state-specific rule) | Usury forfeits all interest plus 25% of principal; charging usurious interest is a class B misdemeanor. Source says: "shall be deemed a forfeiture of the entire interest" and "a forfeiture of twenty-five percent of the principal" (N.D.C.C. 47-14-10); usury is a class B misdemeanor (47-14-11). | North Dakota Legislative Branch as of 2026-09-16 |
How to compare offers in Luverne
Here is a short checklist for comparing personal loans in Luverne:
- 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 North Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.