Halstad at a glance
- Population: 560 residents, the 465th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 574 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a loss of about 2.4% since the 2020 count (US Census Bureau).
- Rank among Minnesota places: 465th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 45% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: latitude 47.3511, longitude -96.8257 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Hillsboro, ND (12 mi); Ada, MN (15 mi); Mayville, ND (26 mi); Harwood, ND (26 mi); Twin Valley, MN (27 mi) (US Census Bureau).
- Nearest smaller towns: Hendrum, MN (6 mi); Shelly, MN (7 mi); Grandin, ND (11 mi) (US Census Bureau).
What a personal loan costs in Halstad
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Halstad
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 |
|---|---|---|
| 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 Halstad
The steps below are worth completing first when you borrow in Halstad:
- 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.