Whalan at a glance
- Population: about 70 residents, ranking 797th of 853 Census places in Minnesota (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 66 (US Census Bureau).
- 2020 to 2023 change: up roughly 6.1% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 797th out of 853 Census places (US Census Bureau).
- Size percentile: about 7% of places in Minnesota are smaller (US Census Bureau).
- Coordinates: mapped at 43.7332, -91.9250 by the US Census Bureau Gazetteer.
- Nearest larger cities: Lanesboro, MN (3 mi); Peterson, MN (6 mi); Rushford Village, MN (9 mi); Preston, MN (9 mi); Rushford, MN (10 mi); US Census Bureau population estimates.
- Smaller towns nearby: Taopi, MN (38 mi); Sargeant, MN (44 mi); Jackson Junction, IA (44 mi) (US Census Bureau).
What a personal loan costs in Whalan
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Minnesota lending rules that apply in Whalan
The table lists the Minnesota rules that apply to a loan made in Whalan, each with the regulator that published it.
| 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 Whalan
The steps below are worth completing first when you borrow in Whalan:
- 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.