South Haven at a glance
- Population: the Census estimates 183 residents, ranking 662nd of 853 places in Minnesota (Vintage 2023).
- 2020 Census base: 185 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 1.1% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 662nd-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 22% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: mapped at 45.2927, -94.2174 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Kimball, MN (4 mi); Annandale, MN (5 mi); Kingston, MN (8 mi); Watkins, MN (10 mi); Maple Lake, MN (11 mi) (US Census Bureau).
- Nearest smaller towns: Roscoe, MN (23 mi); Cedar Mills, MN (28 mi); Lake Henry, MN (30 mi) (US Census Bureau).
What a personal loan costs in South Haven
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Minnesota lending rules that apply in South Haven
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in South Haven.
| 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 South Haven
The order below is a sensible way to approach a loan in South Haven:
- 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.