Chickamaw Beach at a glance
- Population: 132, the 714th-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 131 (US Census Bureau).
- 2020 to 2023 change: about 0.8% more residents than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 714th largest of 853 (US Census Bureau).
- Size percentile: ahead of around 16% of Minnesota places in population terms (US Census Bureau).
- Coordinates: 46.7450 latitude, -94.3778 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Pine River, MN (2 mi); Jenkins, MN (7 mi); Backus, MN (8 mi); Pequot Lakes, MN (12 mi); Fifty Lakes, MN (12 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Manhattan Beach, MN (11 mi); Trommald, MN (24 mi); Nimrod, MN (25 mi) (US Census Bureau).
What a personal loan costs in Chickamaw Beach
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Minnesota lending rules that apply in Chickamaw Beach
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Chickamaw Beach.
| 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 Chickamaw Beach
The order below is a sensible way to approach a loan in Chickamaw Beach:
- 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.