Palisade at a glance
- Population: 166 — 684th in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 162 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up about 2.5% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: the 684th-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: about 20% of places in Minnesota are smaller (US Census Bureau).
- Coordinates: 46.7127, -93.4893 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: McGregor, MN (11 mi); Aitkin, MN (16 mi); Hill City, MN (19 mi); Wright, MN (23 mi); Emily, MN (24 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Tamarack, MN (18 mi); Trommald, MN (29 mi); Manhattan Beach, MN (31 mi) (US Census Bureau).
What a personal loan costs in Palisade
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Palisade
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Palisade.
| 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 Palisade
The order below is a sensible way to approach a loan in Palisade:
- 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.