Hatfield at a glance
- Population: 51 (US Census Bureau, Vintage 2023 subcounty estimate), the 826th-largest of 853 places in Minnesota.
- 2020 Census base: the 2020 Census recorded 52 residents here (US Census Bureau).
- 2020 to 2023 change: about 1.9% lower than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 826th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 3% of the places in Minnesota (US Census Bureau).
- Coordinates: mapped at 43.9537, -96.1889 by the US Census Bureau Gazetteer.
- Nearest larger cities: Trosky, MN (5 mi); Woodstock, MN (6 mi); Edgerton, MN (6 mi); Pipestone, MN (7 mi); Holland, MN (9 mi), each a US Census place with its estimated population.
- Smaller places nearby: Ward, SD (19 mi); Florence, MN (21 mi); Kinbrae, MN (37 mi), per US Census Bureau estimates.
What a personal loan costs in Hatfield
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Minnesota lending rules that apply in Hatfield
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Hatfield.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hatfield
The order below is a sensible way to approach a loan in Hatfield:
- 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.