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Personal loans in Butterfield, MN

Personal loans in Butterfield are mostly unsecured, so the APR reflects how a lender reads your credit — not the city's 592 population. An estimated 592 people make their home in Butterfield, a figure that ranks 453rd in Minnesota. Use the calculator on this page to price an amount and term before you commit in Butterfield. Population in Butterfield dropped about 1.7% over the three years from 2020 to 2023. State law, rather than federal rules alone, supplies the rate caps and licensing rules that reach Butterfield's 592 residents. The nearest larger city is Mountain Lake, MN about 7 miles away.

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

Compare loan offers Run the numbers first

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.

Borrowing in Butterfield: the local picture

Read the local figures below as context; read the sourced Minnesota table as the rulebook a lender here must follow.

Where Butterfield sits

Inside Butterfield's boundaries lie about 0.4 square miles of land, with no significant water area recorded. The resulting density is about 1,462 people per square mile. The state's population centre of gravity, Minneapolis, is roughly 102 miles away. A 50-mile radius around Butterfield takes in 48 places that are larger. The 100-mile radius contains 244 larger places.

The state rulebook for Butterfield

Read the table as a lender's compliance picture for Butterfield: the rule, the sourced figure, the publisher and the date.

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
Maximum legal interest rate (usury cap)6% per year legal rate of interest; a different rate may be contracted for in writing (Minn. Stat. § 334.01)
Source says: "The interest for any legal indebtedness shall be at the rate of $6 upon $100 for a year"		Minnesota Legislature, Office of the Revisor of Statutes
as of 2026-09-16
Payday lending statusLegal and licensed; APR capped at 36%, or up to 50% with an ability-to-repay analysis (Minn. Stat. §§ 47.60, 47.601, 47.603)
Source says: "The cap on that annual percentage rate is set at either 36%, or up to 50% if the lender conducts an ability to repay analysis"		Minnesota Department of Commerce
as of 2026-09-16

Butterfield against the rest of Minnesota

Butterfield is the 453rd-largest of 853 Census places in Minnesota and contains about 0.0% of the state's people. For population change between 2020 and 2023, Butterfield ranks 577th of 853 in Minnesota (about the 32th percentile). At about 1,462 people per square mile, Butterfield is the 141st most densely settled place in Minnesota. By land area, its 0.4 square miles rank 731st of 853 places in Minnesota.

How a Butterfield personal loan is priced

Butterfield is a small community of about 592 people, and the personal loans written here are mostly unsecured — no collateral, so the lender leans on your credit file. Two numbers drive a Butterfield loan: the APR, which includes fees, and the term, which decides how long you keep paying. Shortening the term on a Butterfield loan raises the monthly payment but cuts the interest; lengthening it does the reverse.

What to do before borrowing in Butterfield

Complete these steps first when you borrow in Butterfield (592 residents):

  1. Get all three reports, dispute anything wrong, and keep the corrected file for your applications.
  2. Model the payment on the calculator before a lender models it for you.
  3. Gather at least three pre-qualified offers and line up the APR, not the headline rate.
  4. Make sure the lender appears in the Minnesota regulator's licence list.
  5. Write down the purpose of the loan and your repayment plan before you apply.
  6. When debt already feels heavy, a nonprofit credit counsellor is worth a call first.
  7. Check the disclosure for fees that raise the true cost above the quoted rate.

What differs between Butterfield and the rest of Minnesota is not the process but the borrower's own file, among the 592 people here.

Compare personal loan offers Run the numbers first

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 Butterfield 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 Butterfield is the same as anywhere in Minnesota.
What loan size can I expect in Butterfield?
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 Butterfield?
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 Butterfield 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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