Taopi at a glance
- Population: roughly 66 people; 803rd of 853 places in Minnesota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 58 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 13.8% more residents than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 803rd by size among 853 communities (US Census Bureau).
- Size percentile: roughly 6% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: 43.5575, -92.6404 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Adams, MN (4 mi); Le Roy, MN (7 mi); Elkton, MN (8 mi); McIntire, IA (9 mi); Rose Creek, MN (10 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Sargeant, MN (19 mi); Myrtle, MN (26 mi); Colwell, IA (28 mi), each a US Census place.
What a personal loan costs in Taopi
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Minnesota lending rules that apply in Taopi
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Taopi.
| 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 Taopi
A few practical steps will make the process in Taopi 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.