Ruthton at a glance
- Population: about 221, 631st by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 226 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 2.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: the 631st-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 26% of the places in Minnesota (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.1775, -96.1034.
- Nearest larger cities: Tyler, MN (7 mi); Lake Benton, MN (11 mi); Balaton, MN (12 mi); Russell, MN (13 mi); Lake Wilson, MN (15 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Florence, MN (5 mi); Holland, MN (8 mi); Woodstock, MN (12 mi), per US Census Bureau estimates.
What a personal loan costs in Ruthton
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
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 Ruthton
Each row below is a Minnesota rule with its publisher and the date it was retrieved.
| 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 Ruthton
These steps are the ones that most affect the offer you receive in Ruthton:
- 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.