Lexington at a glance
- Population: roughly 3,059 people; 209th of 853 places in Minnesota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,259 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 35.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Minnesota places: 209th in population of 853 places (US Census Bureau).
- Size percentile: roughly 75% of places in Minnesota rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 45.1382, -93.1714.
- Nearest larger cities: Circle Pines, MN (1 mi); Mounds View, MN (3 mi); Blaine, MN (3 mi); Lino Lakes, MN (3 mi); Spring Lake Park, MN (4 mi); US Census Bureau population estimates.
- Nearest smaller towns: Hilltop, MN (7 mi); Gem Lake, MN (8 mi); Lauderdale, MN (10 mi) (US Census Bureau).
What a personal loan costs in Lexington
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.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Minnesota lending rules that apply in Lexington
Read the table as the compliance picture for a lender serving Lexington: label, sourced figure, publisher and date.
| 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 Lexington
The order below is a sensible way to approach a loan in Lexington:
- 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.