Personal loans in Minnesota

Consumer lending in Minnesota is regulated by the Minnesota Department of Commerce. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.

Lending rules in Minnesota

Payday lending	Permitted and regulated — maximum loan amount: The cash advance of a consumer small loan is equal to or less than $350; maximum loan term: Not to exceed 30 calendar days. Finance charges: (i) On any amount up to and including $50, a charge of $5.50 may be added; (ii) on amounts in excess of $50, but not more than $100, a charge may be added equal to 10% of the loan proceeds plus a $5 administrative fee; (iii) on amounts in excess of $100, but not more than $250, a charge may be added equal to 7% of the loan proceeds with a minimum of $10 plus a $5 administrative fee; (iv) for amounts in excess of $250 and not greater than $350, a charge may be added equal to 6% of the loan proceeds with a minimum of $17.50 plus a $5 administrative fee. After maturity, the contract rate must not exceed 2.75% per month of the remaining loan proceeds after the maturity date calculated at a rate of 1/30 of the monthly rate in the contract for each calendar day the balance is outstandingSource: National Conference of State Legislatures · as of 2023
Small-loan / installment licensing	Consumer lenders must obtain a state license (Yes). Statutory basis: Minn. Laws §§ 56.0001 et seq.; §§ 53.01 et seq. Licensing administered through NMLS: Yes.Source: Conference of State Bank Supervisors · as of 2026
Interest rate cap (usury limit)	Usury limit: 6% legal rate; written contract up to 8% (Minn. Stat. § 334.01). Finance rates and fees for licensed lenders: The greater of: 21.75% per annum OR the total of 33% per annum on the portion not exceeding $1,200 19% per annum on the portion exceeding $1,200. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026
Consumer lending regulator	Consumer lenders in Minnesota are licensed and supervised by the Minnesota Department of Commerce.Source: Conference of State Bank Supervisors · as of 2026
Debt collection rules	Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the Minnesota Attorney General's Office. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: Minnesota Attorney General's Office · as of 2026
Military lending protections	The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024
Complaint / licensing lookup	Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the Minnesota Department of Commerce; consumers can file complaints with the Minnesota Department of Commerce or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026

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Cities in Minnesota

Minneapolis St. Paul St. Cloud Rochester Duluth Bloomington Brooklyn Park Plymouth Woodbury Maple Grove Lakeville Blaine Eagan Eden Prairie Burnsville Coon Rapids Apple Valley Minnetonka Edina St. Louis Park Moorhead Mankato Shakopee Maplewood Cottage Grove Richfield Roseville Inver Grove Heights Brooklyn Center Andover Savage Fridley Oakdale Chaska Ramsey Prior Lake Shoreview Owatonna Winona Austin Chanhassen Rosemount Elk River White Bear Lake Faribault Champlin New Brighton Farmington Crystal Golden Valley Hastings New Hope Columbia Heights Lino Lakes Willmar South St. Paul West St. Paul Northfield Forest Lake Otsego Stillwater Sartell Hopkins Albert Lea St. Michael Anoka Red Wing Ham Lake Hibbing Buffalo Hugo Bemidji Robbinsdale Hutchinson North Mankato Monticello Brainerd New Ulm Alexandria Fergus Falls Sauk Rapids Worthington Marshall Mounds View Rogers Vadnais Heights Waconia Cloquet North St. Paul East Bethel St. Peter Mendota Heights Big Lake Lake Elmo Grand Rapids North Branch Little Canada Fairmont Victoria Hermantown Arden Hills Detroit Lakes Cambridge Mound Waseca St. Anthony East Grand Forks Little Falls Oak Grove Thief River Falls Baxter Virginia Orono Waite Park Minnetrista St. Francis New Prague Mahtomedi Wyoming Albertville Shorewood Crookston Belle Plaine Dayton Spring Lake Park St. Joseph Kasson Isanti Medina Stewartville Jordan Litchfield Delano Corcoran Byron Zimmerman International Falls Carver Glencoe Chisago City St. Paul Park Falcon Heights Montevideo La Crescent North Oaks Morris Lake City Redwood Falls Circle Pines Luverne Becker Lindstrom Chisholm Princeton Elko New Market St. James Windom Oak Park Heights Watertown Lonsdale Dilworth Rockford Sauk Centre Nowthen Wayzata Wadena Cannon Falls Pipestone Le Sueur Columbus Cold Spring Goodview Rice Lake Park Rapids Scandia Grant St. Charles Newport Pine Island Centerville Deephaven Norwood Young America Bayport Independence Montrose Zumbrota Long Prairie Two Harbors Melrose Mora Eveleth St. Augusta Hanover Perham Plainview Sleepy Eye Breckenridge Benson Annandale Jackson Ely Moose Lake Blue Earth Rush City Montgomery Eagle Lake Pine City Proctor Milaca Afton Greenfield Mountain Iron Caledonia Dodge Center Chatfield Albany Cokato Barnesville Roseau Foley Cohasset Crosby Sandstone Osseo Glenwood Pelican Rapids Breezy Point Le Center Lake Crystal Janesville Lauderdale Spring Valley Wabasha Granite Falls Arlington Madelia Olivia Mayer Excelsior Rockville Staples Wells Hoyt Lakes Maple Lake Esko Pequot Lakes Cologne Hawley Aitkin Springfield Tracy Blooming Prairie Lexington Warroad Paynesville Ortonville Slayton Eyota St. Bonifacius Gaylord Mountain Lake Spring Park Stacy Winsted Howard Lake Ada Gilbert Kenyon Rice Lewiston Lester Prairie Rock Creek Waverly Long Lake Nisswa Rushford Coleraine Aurora Lakefield Lakeland Waterville Saint John's University Braham Osakis Mapleton Maple Plain Dundas Pierz Oronoco Warren Silver Bay Grand Marais Clearwater Hinckley Clara City Red Lake Canby Madison Spring Grove Dawson Tonka Bay Avon Fosston Winthrop Glyndon Renville Hayfield Babbitt Dassel Fairfax Appleton Dellwood Fulda Richmond Minneota Preston Medford Red Lake Falls Wheaton Winnebago Starbuck Edgerton Spicer Royalton Goodhue New York Mills Parkers Prairie New London Keewatin Bagley Wanamingo Truman Taylors Falls Hilltop Cottonwood Tyler Frazee Hector Nashwauk Shafer Atwater Redby Lake St. Croix Beach Elbow Lake Adrian Mahnomen Scanlon Elgin Madison Lake Menahga Lake Shore Buhl Grand Meadow Baudette Nicollet

Personal loans in Minnesota

Lending rules in Minnesota

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Cities in Minnesota

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