Heidelberg at a glance
- Population: 134 residents, the 713th-largest of 853 places in Minnesota (US Census Bureau, Vintage 2023).
- 2020 Census base: 135 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 0.7% below the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 713th by size among 853 communities (US Census Bureau).
- Size percentile: ahead of around 16% of Minnesota places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 44.4931, -93.6264.
- Nearest larger cities: Montgomery, MN (4 mi); New Prague, MN (4 mi); Le Center, MN (9 mi); Lonsdale, MN (10 mi); Belle Plaine, MN (11 mi); US Census Bureau population estimates.
- Nearest smaller towns: New Trier, MN (35 mi); Biscay, MN (39 mi); Miesville, MN (40 mi) — US Census Bureau populations.
What a personal loan costs in Heidelberg
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Minnesota lending rules that apply in Heidelberg
Read the table as the compliance picture for a lender serving Heidelberg: label, sourced figure, publisher and date.
| 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 Heidelberg
Before you share your details with a lender in Heidelberg:
- 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.