White Bear Lake at a glance
- Population: roughly 23,363 people; 46th of 853 places in Minnesota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 24,870 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 6.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 46th by size among 853 communities (US Census Bureau).
- Size percentile: it exceeds roughly 95% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 45.0652, -93.0129 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Maplewood, MN (3 mi); Oakdale, MN (6 mi); Shoreview, MN (6 mi); Roseville, MN (8 mi); St. Paul, MN (9 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Gem Lake, MN (1 mi); Birchwood Village, MN (2 mi); Mahtomedi, MN (2 mi) (US Census Bureau).
What a personal loan costs in White Bear Lake
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in White Bear Lake
The table lists the Minnesota rules that apply to a loan made in White Bear Lake, each with the regulator that published it.
| 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 White Bear Lake
Before you commit to a personal loan in White Bear Lake, 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.