St. Stephen at a glance
- Population: 803 (US Census Bureau, Vintage 2023 subcounty estimate), the 392nd-largest of 853 places in Minnesota.
- 2020 Census base: 796 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 0.9% higher than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 392nd-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 54% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 45.7010, -94.2742 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Rice, MN (4 mi); Sartell, MN (6 mi); Royalton, MN (9 mi); Sauk Rapids, MN (9 mi); St. Joseph, MN (9 mi) (US Census Bureau).
- Smaller towns nearby: Holdingford, MN (10 mi); Bowlus, MN (10 mi); Elmdale, MN (14 mi) (US Census Bureau).
What a personal loan costs in St. Stephen
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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 St. Stephen
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in St. Stephen.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in St. Stephen
A few practical steps will make the process in St. Stephen less costly:
- 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.