Trosky at a glance
- Population: the Census estimates 102 residents, ranking 753rd of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 104 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 1.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 753rd of the state's 853 Census places (US Census Bureau).
- Size percentile: it is larger than about 12% of the places in Minnesota (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.8900, -96.2478.
- Nearest larger cities within 120 miles: Edgerton, MN (6 mi); Pipestone, MN (8 mi); Jasper, MN (8 mi); Hardwick, MN (8 mi); Woodstock, MN (11 mi) (US Census Bureau).
- Nearest smaller towns: Hatfield, MN (5 mi); Ihlen, MN (6 mi); Kenneth, MN (13 mi) — US Census Bureau populations.
What a personal loan costs in Trosky
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Minnesota lending rules that apply in Trosky
The Minnesota rate caps and licensing rules that reach Trosky are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Trosky
Before you commit to a personal loan in Trosky, 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.