Mizpah at a glance
- Population: 51, the 827th-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: 51 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: no meaningful change since the 2020 count (US Census Bureau).
- Rank among Minnesota places: the 827th-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 3% of Minnesota places in population terms (US Census Bureau).
- Coordinates: it sits at 47.9209, -94.2132 in the US Census Bureau Gazetteer.
- Nearest larger cities: Northome, MN (4 mi); Kelliher, MN (11 mi); Blackduck, MN (21 mi); Squaw Lake, MN (21 mi); Big Falls, MN (26 mi); US Census Bureau population estimates.
- Nearest smaller towns: Funkley, MN (14 mi); Boy River, MN (52 mi); Leonard, MN (52 mi) (US Census Bureau).
What a personal loan costs in Mizpah
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Minnesota lending rules that apply in Mizpah
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mizpah
These steps are the ones that most affect the offer you receive in Mizpah:
- 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.