Petersburg at a glance
- Population: the Census estimates 159 residents, ranking 178th of 355 places in North Dakota (Vintage 2023).
- 2020 Census base: 161 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 1.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among North Dakota places: 178th out of 355 Census places (US Census Bureau).
- Size percentile: larger than about 50% of the Census places in North Dakota (US Census Bureau).
- Coordinates: mapped at 48.0175, -98.0006 by the US Census Bureau Gazetteer.
- Nearest larger cities: Michigan City, ND (6 mi); Lakota, ND (16 mi); Fordville, ND (17 mi); Larimore, ND (19 mi); McVille, ND (19 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Niagara, ND (6 mi); Inkster, ND (19 mi); Lankin, ND (21 mi) (US Census Bureau).
What a personal loan costs in Petersburg
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
North Dakota lending rules that apply in Petersburg
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Usury penalties (state-specific rule) | Usury forfeits all interest plus 25% of principal; charging usurious interest is a class B misdemeanor. Source says: "shall be deemed a forfeiture of the entire interest" and "a forfeiture of twenty-five percent of the principal" (N.D.C.C. 47-14-10); usury is a class B misdemeanor (47-14-11). | North Dakota Legislative Branch as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Formula ceiling: 6-month U.S. Treasury bill average + 5.5 percentage points, never less than 7%; NDDFI-published rate for September 2026: 9.204%. Source says: "The rate is equal to five and one-half percent (5.5%) higher than the current cost of money" and "the maximum allowable interest rate ceiling may not be less than seven (7) percent" (NDDFI Usury Rate page; September 2026 rate 9.204%). | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Payday lending status | Legal for licensed deferred presentment service providers; fee capped at 20% of amount advanced; max $500 per transaction; $600 aggregate outstanding per customer. Source says: "A licensee may charge a fee for the deferred presentment service, not to exceed twenty percent of the amount paid to the customer" (N.D.C.C. 13-08-12); "may not disburse more than five hundred dollars to the customer in a deferred presentment service transaction" (13-08-12.3). | North Dakota Legislative Branch as of 2026-09-16 |
| Small-loan / installment lender licensing | Money broker license required to engage in money brokering (arranging/providing loans); issued by the commissioner of financial institutions. Source says: "may not engage in money brokering in the state of North Dakota without a money broker license issued by the commissioner" (N.D.C.C. 13-04.1-02). | North Dakota Legislative Branch as of 2026-09-16 |
| State lending regulator | North Dakota Department of Financial Institutions (NDDFI) Source says: "The Department also licenses and regulates Money Brokers... Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters." | North Dakota Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Petersburg
Before you commit to a personal loan in Petersburg, 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 North Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.