Online Personal Loans in Minnesota
A flexible and well balanced financial solution, personal loans in Minnesota are completely online and offer a safe way for someone in need of financial help to get up to $25,000. The personal loans someone could get through our website can be repaid in installments in periods of up to 36 months. These loans are perfect for residents of Minnesota because having a high credit score is an important advantage to have on your side as it usually leads to a better interest rate and a longer lending period. Personal loans are very flexible and can be used to cover short term or medium term financial difficulties, depending on the needs of the borrower.
Minnesota - Rates & Terms
$1,000 - $25,000
Interest Rate / APR:
Variable (more details
12 months - 36 months
If you meet the requirements and qualify for one of our personal loans we will provide you with a financial solution tailored to your needs, based on your financial eligibility. Once approved for a loan you will be provided the full details of the offer including: interest rate, repayment term, payment amount and the total cost of the loan.
Credit Scores in Minnesota:
The state of Minnesota was the highest ranking state based on average credit score in 2011. It ranked 1st with an average credit score of 718. Even more impressive is that in 2011 the average score was 6 points lower than it was in 2010. This ranking was compiled by Experian, one of the largest and most important credit reporting agencies in the states. In 2011 this company used over 3 million credit profiles ranging from 330 to 830 to create this list. Minnesota ranking 1st has made it more obvious that states from the North of the United States tend to have a higher average credit score than their southern counterparts.
More about Installment Loans in Minnesota
The Land of 10,000 Lakes or the North Star State, these are only two of the other names used to describe Minnesota. Also the name of the state means "clear water" in the Dakota tongue. Minnesota is the 12th largest state in the country while ranking 21st by population. Most of the residents of this state (nearly 60%) live in the Minneapolis – Saint Paul metropolitan area, also known as the "Twin Cities".
This metropolitan area is the center of business, industry, transportation, education and government in Minnesota while most of the remaining land consists of prairies used for agriculture. The state of Minnesota is known to have mixed social and political orientations, a high rate of civic participation and high voter turnout. It is also one of the healthiest states and has a very literate population. While at one time Minnesota was a producer of raw materials, nowadays the economy of Minnesota is very diverse, so much so that the relative outputs of the business sectors closely resemble those of the United States as a whole.
As mentioned before, the economy of Minnesota is very diverse having moved from an economy based on raw materials to one of finished products. Some of the important industries for Minnesota that were developed along the years were fur trading and agriculture, forestry, mining of iron, manufacturing, retail, the biomedical industry, finance and tourism. The high technology sector is also strongly represented by companies such as Alliant Techsystems, Cray, Imation and IBM in Rochester.
As one would expect from a state with such a diversified economy, the financial sector is also quite strong and even though Minnesota is one of the healthiest states there will always be some residents that will need some financial help from time to time. Personal loans in Minnesota are just one of the ways a minnesotan can get some assistance. Even through our website 36MonthLoans.com one could borrow up to $25,000 with a single personal loan.
State of Minnesota Economic Indicators:
- Income per capita: $42.843 (2010)
- Average weekly wage: $988 (fourth quarter of 2013)
- Average household income: $56.954 (2011)
- State Expenditures ($ in Millions): 35.766 
- Unemployment rate: %4.6 (May 2014)