St. Marys Point at a glance
- Population: 344, the 562nd-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: 353 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 2.5% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: the 562nd-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 34% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.9105, -92.7702.
- Nearest larger cities: Lake St. Croix Beach, MN (1 mi); Afton, MN (3 mi); Lakeland, MN (3 mi); Hudson, WI (4 mi); North Hudson, WI (6 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Lakeland Shores, MN (3 mi); Coates, MN (19 mi); Mendota, MN (19 mi), each a US Census place.
What a personal loan costs in St. Marys Point
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.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in St. Marys Point
The Minnesota rate caps and licensing rules that reach St. Marys Point are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in St. Marys Point
Run through this list before signing anything in St. Marys Point:
- 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.