St. Francis at a glance
- Population: 8,442, the 115th-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: 8,139 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up roughly 3.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: the 115th-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 87% of Minnesota places in population terms (US Census Bureau).
- Coordinates: latitude 45.3940, longitude -93.3941 (US Census Bureau Gazetteer).
- Nearest larger cities: Oak Grove, MN (5 mi); East Bethel, MN (9 mi); Elk River, MN (9 mi); Ramsey, MN (10 mi); Andover, MN (10 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Nowthen, MN (4 mi); Bethel, MN (6 mi); Isanti, MN (10 mi), each a US Census place.
What a personal loan costs in St. Francis
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in St. Francis
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 St. Francis
Before you commit to a personal loan in St. Francis, work through these steps:
- 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.