Personal loans in Richfield, MN
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Richfield, MN.
The median household in Richfield earns $85,132 a year, about the same as the Minnesota median of $89,062. About 8% of residents live below the federal poverty line, and 38.4% of households rent their home.
Minnesota law that applies in Richfield
| 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 Richfield
Most Richfield applicants can finish in one sitting if they have these ready:
- 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 Richfield
What Richfield borrowers use it for
handle the unexpected the same week
Need money nowthe fastest options online
Rent duecover a short gap before payday
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in Richfield
- 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 Richfield
5 FDIC-insured bank branches from 5 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| BMO Bank National Association | 1 | 6625 Lyndale Ave S, Richfield 55423 |
| United Bankers' Bank | 1 | 2 Meridian Xing, Richfield 55423 |
| The Huntington National Bank | 1 | 6501 Richfield Pkwy, Richfield 55423 |
| Wells Fargo Bank, National Association | 1 | 6445 Nicollet Ave, Richfield 55423 |
| JPMorgan Chase Bank, National Association | 1 | 6544 Lyndale Ave S, Richfield 55423 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Richfield
2 credit-union locations from 2 credit unions.
| Credit union | Location |
|---|---|
| Affinity Plus | 7610 Lyndale Ave S, Richfield 55423 |
| My | 345 E 77Th St, Richfield 55423 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Hennepin County · Payday Loans in Richfield · Title Loans in Richfield
Frequently asked questions
Can I get a personal loan with bad credit in Richfield?
Possibly. Lenders in our network consider applicants with fair and bad credit across Minnesota, including Richfield. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Richfield, 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 Richfield?
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.
How do installment loans work in Richfield?
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. Richfield residents can see installment loan offers 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.
Where can I find a loan for bad credit in Richfield?
You can apply at local banks and lenders in Richfield, 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.
Can I get a personal loan in Richfield with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Richfield residents can see if they qualify for $100 to $5,000 in about 3 minutes.
Can I get an emergency loan with bad credit in Richfield?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Richfield residents can see if they qualify in about 3 minutes.
Do I need to visit a store in Richfield?
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.