Taylors Falls at a glance
- Population: 1,054 (US Census Bureau, Vintage 2023 subcounty estimate), the 349th-largest of 853 places in Minnesota.
- 2020 Census base: 1,051 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up roughly 0.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 349th in population of 853 places (US Census Bureau).
- Size percentile: it exceeds roughly 59% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: it sits at 45.4056, -92.6736 in the US Census Bureau Gazetteer.
- Nearest larger cities: St. Croix Falls, WI (2 mi); Shafer, MN (4 mi); Osceola, WI (6 mi); Lindstrom, MN (8 mi); Chisago City, MN (12 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Dresser, WI (3 mi); Centuria, WI (6 mi); Center City, MN (7 mi), per US Census Bureau estimates.
What a personal loan costs in Taylors Falls
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Taylors Falls
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Taylors Falls
The order below is a sensible way to approach a loan in Taylors Falls:
- 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.