Magness at a glance
- Population: 225, the 360th-largest community in Arkansas out of 500 (US Census Bureau, Vintage 2023).
- 2020 Census base: 219 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.7% more residents than the 2020 Census base (US Census Bureau).
- Rank among Arkansas places: 360th largest of 500 (US Census Bureau).
- Size percentile: roughly 28% of Arkansas's places have fewer residents (US Census Bureau).
- Coordinates: mapped at 35.7031, -91.4822 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Newark, AR (2 mi); Sulphur Rock, AR (4 mi); Southside, AR (8 mi); Batesville, AR (9 mi); Campbell Station, AR (13 mi) (US Census Bureau).
- Nearest smaller places: Oil Trough, AR (5 mi); Moorefield, AR (7 mi); Jacksonport, AR (11 mi) (US Census Bureau estimates).
What a personal loan costs in Magness
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Arkansas lending rules that apply in Magness
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
How to compare offers in Magness
The steps below are worth completing first when you borrow in Magness:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.