Rutledge at a glance
- Population: the Census estimates 217 residents, ranking 637th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 214 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 1.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: the 637th-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 25% of Minnesota places in population terms (US Census Bureau).
- Coordinates: it sits at 46.2559, -92.8782 in the US Census Bureau Gazetteer.
- Nearest larger cities: Finlayson, MN (4 mi); Willow River, MN (5 mi); Askov, MN (7 mi); Sandstone, MN (9 mi); Sturgeon Lake, MN (10 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Denham, MN (8 mi); Bruno, MN (10 mi); Kerrick, MN (15 mi) (Census populations).
What a personal loan costs in Rutledge
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
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 Rutledge
The table lists the Minnesota rules that apply to a loan made in Rutledge, each with the regulator that published it.
| 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 Rutledge
These steps are the ones that most affect the offer you receive in Rutledge:
- 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.