Roosevelt at a glance
- Population: 153 (US Census Bureau, Vintage 2023 subcounty estimate), the 698th-largest of 853 places in Minnesota.
- 2020 Census base: 157 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 2.5% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 698th in population of 853 places (US Census Bureau).
- Size percentile: roughly 18% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 48.8070, -95.1010 in the US Census Bureau Gazetteer.
- Nearest larger cities: Williams, MN (7 mi); Warroad, MN (13 mi); Baudette, MN (24 mi); Roseau, MN (30 mi); Badger, MN (42 mi); US Census Bureau population estimates.
- Nearest smaller towns: Strathcona, MN (52 mi); Goodridge, MN (56 mi); Holt, MN (61 mi) (US Census Bureau).
What a personal loan costs in Roosevelt
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Minnesota lending rules that apply in Roosevelt
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Roosevelt
These steps are the ones that most affect the offer you receive in Roosevelt:
- 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.