Personal loans in Silver Lake, MN

Compare APR, not the interest rate, because the APR folds in most fees on a Silver Lake loan. Silver Lake shed about 0.8% of its population between the 2020 base and the 2023 estimate. State law, rather than federal rules alone, supplies the rate caps and licensing rules that reach Silver Lake's 861 residents. The closest larger city is Lester Prairie, MN about 8 miles away.

Silver Lake: population, trend and location

What follows is Silver Lake's place in the Census record, alongside the Minnesota rules that govern a personal loan made here.

• Population: a Census-estimated 861, 378th among Minnesota's 853 places (Vintage 2023).
• Population trend: A loss of roughly 0.8% between 2020 and 2023.
• Change in people: the 2020-to-2023 comparison is a loss of about 7 residents.
• Size percentile: about 56% of Minnesota communities are smaller than Silver Lake (861 residents).
• Land and density: 0.4 square miles of land carry roughly 2,095 residents per square mile.
• Land area: Silver Lake covers 0.4 square miles, the 730th-largest area among Minnesota's 853 places.
• Within Minnesota: about 0.0% of the state's population lives in Silver Lake.
• National rank: Silver Lake sits 10,874th by population among the 19,457 places in this dataset.
• Growth rank: Silver Lake ranks 440th among Minnesota's 853 places for the 2020-to-2023 change.
• Versus Minnesota: the state average change is +0.1%, while Silver Lake moved 0.8%.
• Density in Minnesota: Silver Lake ranks 67th by people per square mile.
• Density vs Minnesota: Silver Lake's 2,095 people per square mile compare with a state median of 607.
• Location: 44.9042, -94.1986 (Census Gazetteer coordinates).
• Nearest larger cities: Lester Prairie (8 mi); Winsted (8 mi); Hutchinson (9 mi); Glencoe (10 mi); Cokato (12 mi). A bigger neighbour may offer more branches; the rate you see still follows your credit, not your address.
• Nearest smaller towns: Biscay (7 mi); New Germany (11 mi); Plato (12 mi).
• Smaller neighbours: 39 places smaller than Silver Lake sit within 50 miles.
• At 100 miles: 294 larger Census places fall inside that radius.

Which Minnesota laws govern a loan in Silver Lake

For the roughly 861 residents of Silver Lake, the rules below are Minnesota's own; each row carries its publisher and retrieval date.

The Silver Lake borrowing checklist

These steps shape the offer you get in Silver Lake, a place of about 861 people:

1. Check all three credit reports for mistakes, because an error you fix now is a lower rate later.
2. Model the payment on the calculator before a lender models it for you.
3. Shop at least three lenders and judge them on APR and total cost.
4. Make sure the lender appears in the Minnesota regulator's licence list.
5. If the balances are already a strain, seek nonprofit credit counselling before adding a loan.
6. Read the disclosure for an origination fee and any prepayment penalty before signing.
7. Test the payment against your current bills before you commit.

None of these steps is Silver Lake-specific: the same Minnesota licensing and disclosure rules reach all 861 residents.

The geography behind Silver Lake

Silver Lake's land area is roughly 0.4 square miles, and the Gazetteer records no significant water area within it. Spread across it are roughly 2,095 residents per square mile. The largest place in Minnesota, Minneapolis, lies about 46 miles away. Within 50 miles of Silver Lake there are 127 larger Census places. By land area it ranks 730th of 853 Minnesota places.

Inside a Silver Lake personal loan

Most loans made to Silver Lake's 861 residents are unsecured, so nothing is pledged and the lender relies on your credit history. Two numbers drive a Silver Lake loan: the APR, which includes fees, and the term, which decides how long you keep paying. Shortening the term on a Silver Lake loan raises the monthly payment but cuts the interest; lengthening it does the reverse.

Silver Lake against the rest of Minnesota

Within Minnesota, Silver Lake holds roughly 0.0% of all residents, the 378th-largest share among 853 places. For population change between 2020 and 2023, Silver Lake ranks 440th of 853 in Minnesota (about the 48th percentile). By density, at about 2,095 people per square mile, it ranks 67th in Minnesota. In land area, Silver Lake ranks 730th among Minnesota's 853 places.