Blue Earth at a glance
- Population: the Census estimates 3,163 residents, ranking 207th of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 3,176 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 0.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: the 207th-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: about 76% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.6410, -94.1003.
- Nearest larger cities within 120 miles: Fairmont, MN (18 mi); Forest City, IA (35 mi); St. James, MN (35 mi); Albert Lea, MN (37 mi); Mankato, MN (37 mi) (US Census Bureau).
- Nearest smaller towns: Winnebago, MN (9 mi); Elmore, MN (9 mi); Frost, MN (10 mi) (US Census Bureau).
What a personal loan costs in Blue Earth
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Minnesota lending rules that apply in Blue Earth
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Blue Earth
A few practical steps will make the process in Blue Earth 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.