Adams at a glance
- Population: 688, the 423rd-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: 683 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population rose about 0.7% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 423rd out of 853 Census places (US Census Bureau).
- Size percentile: it is larger than about 50% of the places in Minnesota (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.5654, -92.7190.
- Nearest larger cities within 120 miles: Le Roy, MN (11 mi); Grand Meadow, MN (12 mi); Austin, MN (15 mi); St. Ansgar, IA (16 mi); Riceville, IA (16 mi) (US Census Bureau).
- Nearest smaller communities: Taopi, MN (4 mi); Rose Creek, MN (6 mi); Elkton, MN (7 mi) (Census populations).
What a personal loan costs in Adams
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Adams
Read the table as the compliance picture for a lender serving Adams: label, sourced figure, publisher and 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 Adams
A few practical steps will make the process in Adams 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.