St. Cloud at a glance
- Population: 71,013 residents, the 12th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 69,606 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.0% more residents than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 12th largest of 853 (US Census Bureau).
- Size percentile: about 99% of places in Minnesota are smaller (US Census Bureau).
- Coordinates: 45.5267 latitude, -94.1710 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Maple Grove, MN (45 mi); Plymouth, MN (49 mi); Brooklyn Park, MN (49 mi); Blaine, MN (53 mi); Minneapolis, MN (59 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Waite Park, MN (4 mi); Sauk Rapids, MN (5 mi); St. Augusta, MN (5 mi) — US Census Bureau populations.
What a personal loan costs in St. Cloud
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Minnesota lending rules that apply in St. Cloud
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in St. Cloud.
| 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 St. Cloud
Here is a short checklist for comparing personal loans in St. Cloud:
- 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.