Personal loans in Minneapolis, MN
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Minneapolis, MN.
The median household in Minneapolis earns $80,846 a year, 9% below the Minnesota median of $89,062. About 16% of residents live below the federal poverty line, and 52.3% of households rent their home.
Minnesota law that applies in Minneapolis
| 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 Minneapolis
Here's what to have on hand before you start your personal loan request in Minneapolis:
- 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 Minneapolis
What Minneapolis borrowers use it for
cover a short gap before payday
Car repairskeep getting to work while the shop fixes it
Emergencieshandle the unexpected the same week
Medical billspay a doctor, dentist or pharmacy bill now
Loans for your situation
How to get a personal loan in Minneapolis
- 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 Minneapolis
76 FDIC-insured bank branches from 31 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Wells Fargo Bank, National Association | 12 | 4141 Lyndale Ave N, Minneapolis 55412 |
| U.S. Bank National Association | 10 | 718 Washington Ave Se, Minneapolis 55414 |
| The Huntington National Bank | 10 | 3899 Silver Lake Rd Ne, Minneapolis 55421 |
| JPMorgan Chase Bank, National Association | 6 | 606 Washington Ave Se, Minneapolis 55414 |
| Associated Bank, National Association | 3 | 1801 Riverside Ave, Minneapolis 55454 |
| Bridgewater Bank | 3 | 3100 Hennepin Ave, Minneapolis 55408 |
| BMO Bank National Association | 3 | 3500 129th Ave Nw, Minneapolis 55448 |
| Sunrise Banks, National Association | 2 | 525 Washington Ave N, Minneapolis 55401 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Minneapolis
15 credit-union locations from 10 credit unions.
| Credit union | Location |
|---|---|
| Transit Operations | 725 N 7Th St, Minneapolis 55411 |
| Wings | 7500 Airline Dr, Minneapolis 55450 |
| Baxter | 1000 Nicollet Mall, Minneapolis 55403 |
| Affinity Plus | 2520 University Ave Se, Minneapolis 55414 |
| Blaze | 3117 University Ave Se, Minneapolis 55414 |
| Trustone Financial | 2817 Lyndale Ave S, Minneapolis 55408 |
| Electric Machinery Employees | 800 Central Ave Ne, Minneapolis 55413 |
| Latvian | 3152 17Th Ave S, Minneapolis 55407 |
| Tribe | 3730 Stevens Ave, Minneapolis 55409 |
| Arise Community | 227 Colfax Ave N, Minneapolis 55405 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Hennepin County · Payday Loans in Minneapolis · Title Loans in Minneapolis
Frequently asked questions
Can I get a personal loan with bad credit in Minneapolis?
Possibly. Lenders in our network consider applicants with fair and bad credit across Minnesota, including Minneapolis. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Minneapolis, 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 Minneapolis?
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.
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 Minneapolis with our free 3-minute form.
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.
How do installment loans work in Minneapolis?
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. Minneapolis residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Minneapolis?
You can apply at local banks and lenders in Minneapolis, 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.
How do I apply for a personal loan with bad credit in Minneapolis?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
Do I need to visit a store in Minneapolis?
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.