Nisswa at a glance
- Population: 2,122 residents, the 256th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,966 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 7.9% growth over the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 256th-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 70% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: 46.5007, -94.2978 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Pequot Lakes, MN (6 mi); Breezy Point, MN (9 mi); Baxter, MN (11 mi); Brainerd, MN (11 mi); Crosslake, MN (15 mi) (US Census Bureau populations).
- Nearest smaller towns: Lake Shore, MN (3 mi); East Gull Lake, MN (8 mi); Jenkins, MN (10 mi) (US Census Bureau).
What a personal loan costs in Nisswa
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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 Nisswa
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Nisswa.
| 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 Nisswa
Before you commit to a personal loan in Nisswa, work through these steps:
- 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.