Brainerd at a glance
- Population: about 14,563, 76th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 14,403 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population rose about 1.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 76th of the state's 853 Census places (US Census Bureau).
- Size percentile: larger than about 91% of the Census places in Minnesota (US Census Bureau).
- Coordinates: 46.3553, -94.1984 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Sartell, MN (51 mi); St. Cloud, MN (57 mi); Alexandria, MN (65 mi); Monticello, MN (76 mi); Elk River, MN (77 mi); US Census Bureau population estimates.
- Smaller places nearby: Baxter, MN (4 mi); East Gull Lake, MN (8 mi); Riverton, MN (10 mi), per US Census Bureau estimates.
What a personal loan costs in Brainerd
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Minnesota lending rules that apply in Brainerd
The table lists the Minnesota rules that apply to a loan made in Brainerd, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Brainerd
The order below is a sensible way to approach a loan in Brainerd:
- 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.