Nielsville at a glance
- Population: a Census-estimated 77, placing it 786th among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 80 (US Census Bureau).
- 2020 to 2023 change: roughly 3.8% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 786th in population of 853 places (US Census Bureau).
- Size percentile: roughly 8% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: latitude 47.5293, longitude -96.8157 (US Census Bureau Gazetteer).
- Nearest larger cities: Shelly, MN (5 mi); Climax, MN (6 mi); Halstad, MN (12 mi); Beltrami, MN (13 mi); Buxton, ND (14 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Clifford, ND (30 mi); North River, ND (40 mi); Ayr, ND (46 mi), per US Census Bureau estimates.
What a personal loan costs in Nielsville
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Minnesota lending rules that apply in Nielsville
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Nielsville.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Nielsville
Here is a short checklist for comparing personal loans in Nielsville:
- 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.