Mendota at a glance
- Population: 182 (US Census Bureau, Vintage 2023 subcounty estimate), the 663rd-largest of 853 places in Minnesota.
- 2020 Census base: the 2020 count put the population at 186 (US Census Bureau).
- 2020 to 2023 change: about 2.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Minnesota places: the 663rd-largest of 853 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 22% of the Census places in Minnesota (US Census Bureau).
- Coordinates: 44.8875 / -93.1617, per the US Census Bureau Gazetteer.
- Nearest larger cities: Mendota Heights, MN (1 mi); Lilydale, MN (2 mi); Sunfish Lake, MN (4 mi); West St. Paul, MN (4 mi); Eagan, MN (5 mi), each a US Census place with its estimated population.
- Smaller places close by: Coates, MN (14 mi); New Trier, MN (23 mi); Miesville, MN (26 mi) (US Census Bureau).
What a personal loan costs in Mendota
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Mendota
The table lists the Minnesota rules that apply to a loan made in Mendota, each with the regulator that published it.
| 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 Mendota
Before you share your details with a lender in Mendota:
- 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.