Kettle River at a glance
- Population: a Census-estimated 174, placing it 672nd among Minnesota's 853 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 169 residents here (US Census Bureau).
- 2020 to 2023 change: about 3.0% growth over the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: 672nd of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 21% of Minnesota's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 46.4862, -92.8776 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Moose Lake, MN (6 mi); Sturgeon Lake, MN (7 mi); Barnum, MN (9 mi); Willow River, MN (11 mi); Cromwell, MN (13 mi) (US Census Bureau populations).
- Nearest smaller communities: Denham, MN (9 mi); Wright, MN (14 mi); Tamarack, MN (16 mi) (Census populations).
What a personal loan costs in Kettle River
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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.
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 Kettle River
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Kettle River.
| 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 Kettle River
These steps are the ones that most affect the offer you receive in Kettle River:
- 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.