Roscoe at a glance
- Population: a Census-estimated 129, placing it 722nd among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 127 residents here (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 1.6% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 722nd of the state's 853 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 15% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 45.4323, -94.6365 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: St. Martin, MN (5 mi); Paynesville, MN (6 mi); Richmond, MN (6 mi); Eden Valley, MN (9 mi); Cold Spring, MN (10 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Lake Henry, MN (8 mi); Regal, MN (10 mi); Spring Hill, MN (11 mi), each a US Census place.
What a personal loan costs in Roscoe
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.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Minnesota lending rules that apply in Roscoe
Read the table as the compliance picture for a lender serving Roscoe: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Roscoe
A few practical steps will make the process in Roscoe less costly:
- 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.