Emmons at a glance
- Population: roughly 363 people; 552nd of 853 places in Minnesota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 368 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 552nd in population of 853 places (US Census Bureau).
- Size percentile: roughly 35% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: latitude 43.5082, longitude -93.4842 (US Census Bureau Gazetteer).
- Nearest larger cities: Lake Mills, IA (7 mi); Glenville, MN (11 mi); Kiester, MN (12 mi); Albert Lea, MN (12 mi); Alden, MN (12 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Twin Lakes, MN (5 mi); Scarville, IA (7 mi); Conger, MN (8 mi) (Census populations).
What a personal loan costs in Emmons
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed 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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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 Emmons
The Minnesota rate caps and licensing rules that reach Emmons are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Emmons
Before you commit to a personal loan in Emmons, work through these steps:
- 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.