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Personal loans in Clearwater, MN

State law, rather than federal rules alone, supplies the rate caps and licensing rules that reach Clearwater's 2,106 residents. With roughly 2,106 residents, Clearwater is a small community, and the lending rules its borrowers live under are written in Minnesota, not by the city. Clearwater is one of 853 Census places in Minnesota; its 2,106 residents put it at 258th. Clearwater added about 9.5% to its population between the 2020 base and the 2023 estimate. Read the disclosure for an origination fee and any prepayment penalty before signing in Clearwater. A larger market lies at St. Augusta, MN about 8 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.

Clearwater: the sourced local profile

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

What Minnesota law requires in Clearwater

The rows below set out what a licensed lender must follow in Minnesota, and so for Clearwater's roughly 2,106 residents.

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
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
Small-loan / installment lender licensingRegulated loan license required from the commissioner for loans within the Chapter 56 threshold (Minn. Stat. § 56.01)
Source says: "without first obtaining a license from the commissioner, no person shall engage in the business of making loans of money"		Minnesota Legislature, Office of the Revisor of Statutes
as of 2026-09-16

Clearwater in state context

Clearwater is the 258th-largest of 853 Census places in Minnesota and contains about 0.0% of the state's people. Its 2020-to-2023 change ranks 22nd of 853 Minnesota places, putting it near the 97th percentile for growth. Its roughly 1,179 residents per square mile place it 208th among Minnesota's places. Within 50 miles sit 72 smaller Census places, alongside the 102 that are larger.

Clearwater: area, density and distance

The Census Gazetteer records 1.8 square miles of land and 0.14 square miles of water within Clearwater. With 2,106 residents, the land area yields roughly 1,179 people per square mile. Minneapolis, the largest place in Minnesota, is about 49 miles from Clearwater. A 50-mile radius around Clearwater takes in 102 places that are larger. Within the same 50 miles lie 72 smaller Census places.

How personal loans work in Clearwater

With roughly 2,106 residents, Clearwater is a small community; its personal loans are typically unsecured, priced from your credit rather than the city's size. Because pricing is borrower-level, two people in Clearwater can be quoted different APRs on the same amount and term. The term you choose in Clearwater decides the split between a comfortable payment and the total interest you pay.

A pre-application checklist for Clearwater

These steps shape the offer you get in Clearwater, a place of about 2,106 people:

  1. Check all three credit reports for mistakes, because an error you fix now is a lower rate later.
  2. Run the numbers on the personal loan calculator so you know the payment before you apply.
  3. Line up several pre-qualified offers and let the APR decide.
  4. Confirm the Minnesota licence with the regulator named above before committing.
  5. Test the payment against your current bills before you commit.
  6. Weigh a shorter term's higher payment against the interest it saves.
  7. Borrow only what the purpose requires, not the maximum you are offered.

In Clearwater as elsewhere in Minnesota, the written terms — not the advertisement — are what count for its 2,106 residents.

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