St. Leo at a glance
- Population: about 92, 766th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 93 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 1.1% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Minnesota places: 766th of the state's 853 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 10% of Minnesota's Census places by population (US Census Bureau).
- Coordinates: 44.7173, -96.0526 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Porter, MN (8 mi); Taunton, MN (9 mi); Canby, MN (11 mi); Minneota, MN (11 mi); Boyd, MN (12 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Hazel Run, MN (17 mi); Arco, MN (24 mi); Nassau, MN (31 mi) (US Census Bureau).
What a personal loan costs in St. Leo
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Minnesota lending rules that apply in St. Leo
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in St. Leo
Before you commit to a personal loan in St. Leo, work through these steps:
- 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.