Personalloaned Compare rates

MN · city page

Personal loans in Rushmore, MN

Taking out a personal loan in Rushmore means a fixed monthly payment for a set term, and the APR you are quoted rests on your credit, income and debts. Rushmore is home to about 358 people and ranks 556th among the 853 Census places in Minnesota. Rate caps and licensing for consumer lenders in Minnesota come from state law, and the sourced rows below set them out.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Advertising disclosure: Personalloaned may receive a referral fee if you apply through a link on this page. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.

Rushmore at a glance

  • Population: 358, the 556th-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
  • 2020 Census base: 368 people (US Census Bureau, 2020 Census count).
  • 2020 to 2023 change: down roughly 2.7% across the 2020-to-2023 comparison (US Census Bureau).
  • Rank among Minnesota places: 556th of 853 by population (US Census Bureau, Vintage 2023).
  • Size percentile: larger than about 35% of the Census places in Minnesota (US Census Bureau).
  • Coordinates: 43.6197 latitude, -95.7990 longitude (US Census Bureau Gazetteer).
  • Nearest larger cities: Adrian, MN (7 mi); Worthington, MN (10 mi); Little Rock, IA (13 mi); Ellsworth, MN (13 mi); Sibley, IA (15 mi) — straight-line distances, US Census Bureau populations.
  • Nearest smaller communities: Bigelow, MN (10 mi); Wilmont, MN (10 mi); Lismore, MN (12 mi) (Census populations).

What a personal loan costs in Rushmore

A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.

Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.

A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.

Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.

Minnesota lending rules that apply in Rushmore

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.

RuleDetailSource
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 statusLegal 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 licensingRegulated 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 regulatorMinnesota 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 requirementRequired 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 Rushmore

A few practical steps will make the process in Rushmore less costly:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Minnesota using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Rushmore?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Rushmore are the same as elsewhere in Minnesota.
How much can I borrow with a personal loan in Rushmore?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Rushmore require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Rushmore hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

Related