Rushmore at a glance
- Population: 358, the 556th-largest community in Minnesota out of 853 (US Census Bureau, Vintage 2023).
- 2020 Census base: 368 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 2.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Minnesota places: 556th of 853 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 35% of the Census places in Minnesota (US Census Bureau).
- Coordinates: 43.6197 latitude, -95.7990 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Adrian, MN (7 mi); Worthington, MN (10 mi); Little Rock, IA (13 mi); Ellsworth, MN (13 mi); Sibley, IA (15 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Bigelow, MN (10 mi); Wilmont, MN (10 mi); Lismore, MN (12 mi) (Census populations).
What a personal loan costs in Rushmore
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Minnesota lending rules that apply in Rushmore
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Rushmore
A few practical steps will make the process in Rushmore less costly:
- 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.