Moose Lake at a glance
- Population: the Census estimates 3,004 residents, ranking 212th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 2,788 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a gain of roughly 7.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 212th in population of 853 places (US Census Bureau).
- Size percentile: it is larger than about 75% of the places in Minnesota (US Census Bureau).
- Coordinates: 46.4503, -92.7610 (US Census Bureau Gazetteer).
- Nearest larger cities: Cloquet, MN (23 mi); Proctor, MN (32 mi); Hermantown, MN (35 mi); Superior, WI (36 mi); Duluth, MN (37 mi), each a US Census place with its estimated population.
- Smaller places close by: Sturgeon Lake, MN (5 mi); Barnum, MN (5 mi); Kettle River, MN (6 mi) (US Census Bureau).
What a personal loan costs in Moose Lake
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.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Moose Lake
Read the table as the compliance picture for a lender serving Moose Lake: label, sourced figure, publisher and date.
| 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 Moose Lake
The order below is a sensible way to approach a loan in Moose Lake:
- 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.