Onamia at a glance
- Population: the Census estimates 831 residents, ranking 385th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 779 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 6.7% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 385th of the state's 853 Census places (US Census Bureau).
- Size percentile: about 55% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 46.0703, -93.6671.
- Nearest larger cities: Milaca, MN (22 mi); Pierz, MN (22 mi); Mora, MN (22 mi); Foley, MN (30 mi); Aitkin, MN (32 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Wahkon, MN (8 mi); Isle, MN (11 mi); Hillman, MN (12 mi), each a US Census place.
What a personal loan costs in Onamia
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.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in Onamia
Read the table as the compliance picture for a lender serving Onamia: label, sourced figure, publisher and date.
| 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 Onamia
Here is a short checklist for comparing personal loans in Onamia:
- 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.