Rushford Village at a glance
- Population: a Census-estimated 803, placing it 391st among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 793 (US Census Bureau).
- 2020 to 2023 change: about 1.3% more residents than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 391st-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 54% of the Census places in Minnesota (US Census Bureau).
- Coordinates: 43.8046 / -91.7856, per the US Census Bureau Gazetteer.
- Nearest larger cities: Rushford, MN (2 mi); Houston, MN (11 mi); Lewiston, MN (13 mi); Stockton, MN (15 mi); Preston, MN (17 mi); US Census Bureau population estimates.
- Nearest smaller towns: Peterson, MN (3 mi); Whalan, MN (9 mi); Lanesboro, MN (11 mi) (US Census Bureau).
What a personal loan costs in Rushford Village
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Minnesota lending rules that apply in Rushford Village
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Rushford Village.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Rushford Village
Run through this list before signing anything in Rushford Village:
- 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.