Victoria at a glance
- Population: 11,493 — 96th in Minnesota, which has 853 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 10,558 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population rose about 8.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 96th-largest of 853 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 89% of the places in Minnesota (US Census Bureau).
- Coordinates: latitude 44.8621, longitude -93.6584 (US Census Bureau Gazetteer).
- Nearest larger cities: Chaska, MN (4 mi); Chanhassen, MN (5 mi); Waconia, MN (7 mi); Eden Prairie, MN (10 mi); Shakopee, MN (11 mi); US Census Bureau population estimates.
- Nearest smaller communities: Shorewood, MN (4 mi); Mound, MN (5 mi); Tonka Bay, MN (5 mi), each a US Census place.
What a personal loan costs in Victoria
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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 repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Victoria
The sourced rows below are the rules a licensed lender must follow when lending in Minnesota, and therefore in Victoria.
| 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 Victoria
Run through this list before signing anything in Victoria:
- 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.