Biscay at a glance
- Population: a Census-estimated 112, placing it 741st among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 113 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 0.9% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 741st-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: ahead of around 13% of Minnesota places in population terms (US Census Bureau).
- Coordinates: 44.8263, -94.2741 (US Census Bureau Gazetteer).
- Nearest larger cities: Hutchinson, MN (6 mi); Silver Lake, MN (7 mi); Glencoe, MN (7 mi); Brownton, MN (7 mi); New Auburn, MN (11 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Cedar Mills, MN (14 mi); Evan, MN (43 mi); Cobden, MN (47 mi) (US Census Bureau).
What a personal loan costs in Biscay
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
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 Biscay
The Minnesota rate caps and licensing rules that reach Biscay are listed below, each with its source and retrieval date.
| 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 Biscay
Before you share your details with a lender in Biscay:
- 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.