Personal loans in Clarkfield, MN

Clarkfield counts about 827 people, and what is genuinely local about borrowing here is limited — Minnesota law does the governing. Compare APR, not the interest rate, because the APR folds in most fees on a Clarkfield loan.

By the Personalloaner Editorial Team · Last updated 2026-09-16

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

By population, Clarkfield sits at 386th in Minnesota, with an estimated 827 residents. A single loan can carry different costs on either side of a state line, and Clarkfield sits on the Minnesota side of that line. From the 2020 Census base to the 2023 estimate, the population declined by about 1.3%. The closest larger place is Montevideo, MN about 12 miles away.

Borrowing in Clarkfield: the local picture

Most of what governs a Clarkfield loan is written in Minnesota law rather than in the city; the sourced notes below make that split concrete.

What a Clarkfield borrower is actually offered

In Clarkfield, a small community of about 827, the amount is advanced up front and repaid in fixed installments; the city's size does not change the pricing. A lender serving Clarkfield's 827 residents must disclose the APR and finance charge in writing before you sign. Because the payment is fixed, the total cost of a Clarkfield loan is knowable in advance — unlike a revolving card balance.

How Minnesota law applies in Clarkfield

Minnesota has no separate rate rule for Clarkfield; the sourced rows below are what reach every lender that serves its 827 people.

RuleDetailSource
State lending regulatorMinnesota 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
Small-loan / installment lender licensingRegulated 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
Payday ability-to-repay requirementRequired 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

Where Clarkfield sits in Minnesota

Among Minnesota's 853 places, Clarkfield sits at 386th for population, a share of roughly 0.0% of the state. Its 2020-to-2023 change ranks 518th of 853 Minnesota places, putting it near the 39th percentile for growth. By density, at about 731 people per square mile, it ranks 379th in Minnesota. The population moved by about 11 people between 2020 and 2023, a 1.3% shift.

How lenders reach Clarkfield

Clarkfield is a moderately settled community of about 827 people, with 21 larger places inside a 50-mile radius. Lenders licensed in Minnesota reach Clarkfield's 827 residents online, so the nearest branch is not what sets your APR. For a larger market, the closest option is Montevideo, MN about 12 miles away.

Land, water and location for Clarkfield

The Census Gazetteer records about 1.1 square miles of land within Clarkfield, with no significant water area listed. Spread across it are roughly 731 residents per square mile. The largest place in Minnesota, Minneapolis, lies about 125 miles away. Clarkfield has 21 larger places within a 50-mile radius. Within the same 50 miles lie 68 smaller Census places.

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Common questions

What are my options in Clarkfield if my credit is poor?
Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Clarkfield is the same as anywhere in Minnesota.
What loan size can I expect in Clarkfield?
Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.
Do I have to pledge anything to borrow in Clarkfield?
For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.
Does comparing loans in Clarkfield cost me credit score points?
Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.

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