Lyle at a glance
- Population: about 517, 484th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 523 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 1.1% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 484th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 43% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 43.5059, -92.9412 (US Census Bureau Gazetteer).
- Nearest larger cities: St. Ansgar, IA (9 mi); Austin, MN (12 mi); Adams, MN (12 mi); Northwood, IA (14 mi); Brownsdale, MN (17 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Carpenter, IA (7 mi); Rose Creek, MN (9 mi); Stacyville, IA (9 mi) (Census populations).
What a personal loan costs in Lyle
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in Lyle
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Lyle.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lyle
Before you share your details with a lender in Lyle:
- 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.