Personal loans in Fergus Falls, MN
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Fergus Falls, MN.
The median household in Fergus Falls earns $56,162 a year, 37% below the Minnesota median of $89,062. About 9% of residents live below the federal poverty line, and 35.9% of households rent their home. 10.4% of households have no home internet; our form works on any phone.
Minnesota law that applies in Fergus Falls
| Rate cap | Licensed regulated lenders and financial institutions may charge the greater of (1) 21.75% APR or (2) 33% a year on the part of the balance up to $1,425 plus 19% on the part above $1,425. |
|---|---|
| License required | Yes. |
| Loan sizes covered | Chapter 56 rates apply to loans up to $100,000 (or 15% of a Minnesota corporate licensee's capital and surplus, if greater). |
Full rules with statute citations: Personal Loans in Minnesota. Cities in Minnesota cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Fergus Falls
Here's what to have on hand before you start your personal loan request in Fergus Falls:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Fergus Falls
What Fergus Falls borrowers use it for
cover a short gap before payday
Emergencieshandle the unexpected the same week
Holiday expensesgifts and travel without maxing a card
Medical billspay a doctor, dentist or pharmacy bill now
Loans for your situation
How to get a personal loan in Fergus Falls
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Fergus Falls
11 FDIC-insured bank branches from 11 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| BMO Bank National Association | 1 | 120 N Mill St, Fergus Falls 56537 |
| Wells Fargo Bank, National Association | 1 | 220 W Washington Ave, Fergus Falls 56537 |
| FM Bank | 1 | 226 E Lincoln Ave, Fergus Falls 56537 |
| U.S. Bank National Association | 1 | 501 W Lincoln Ave, Fergus Falls 56537 |
| Old National Bank | 1 | 2330 College Way, Fergus Falls 56537 |
| American National Bank of Minnesota | 1 | 727 Western Ave, Fergus Falls 56537 |
| American Federal Bank | 1 | 117 S Mill St, Fergus Falls 56537 |
| Bell Bank | 1 | 205 W Washington Ave, Fergus Falls 56537 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Fergus Falls
3 credit-union locations from 3 credit unions.
| Credit union | Location |
|---|---|
| Affinity Plus | 410 W Lincoln Ave, Fergus Falls 56537 |
| Mid Minnesota | 1820 W Lincoln Ave, Fergus Falls 56537 |
| Greater Community | 413 W Stanton Ave, Fergus Falls 56537 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Otter Tail County · Payday Loans in Fergus Falls · Title Loans in Fergus Falls
Frequently asked questions
Can I get a personal loan with bad credit in Fergus Falls?
Possibly. Lenders in our network consider applicants with fair and bad credit across Minnesota, including Fergus Falls. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Fergus Falls, MN?
Greater of 21.75% APR or 33% to $1,425/19% above; small loans 50%.
How fast can I get a personal loan in Fergus Falls?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Fergus Falls borrowers who qualify.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Fergus Falls with our free 3-minute form.
How do installment loans work in Fergus Falls?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Fergus Falls residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Fergus Falls?
You can apply at local banks and lenders in Fergus Falls, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
Do I need to visit a store in Fergus Falls?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.