Magnet at a glance
- Population: the Census estimates 45 residents, ranking 491st of 527 places in Nebraska (Vintage 2023).
- 2020 Census base: 46 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Nebraska places: the 491st-largest of 527 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 7% of the places in Nebraska (US Census Bureau).
- Coordinates: it sits at 42.4561, -97.4693 in the US Census Bureau Gazetteer.
- Nearest larger cities: Wausa, NE (5 mi); Randolph, NE (8 mi); Osmond, NE (9 mi); Bloomfield, NE (13 mi); Belden, NE (14 mi); US Census Bureau population estimates.
- Nearest smaller towns: McLean, NE (5 mi); Sholes, NE (12 mi); Bazile Mills, NE (23 mi) (US Census Bureau).
What a personal loan costs in Magnet
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Nebraska lending rules that apply in Magnet
The Nebraska rate caps and licensing rules that reach Magnet are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 16% per annum maximum on agreed interest (unpaid principal balance) Source says: "any rate of interest which may be agreed upon, not exceeding sixteen percent per annum on the unpaid principal balance, shall be valid" | Nebraska Legislature (Nebraska Revised Statutes) as of 2026-09-16 |
| Payday lending status | Capped at 36% APR (Initiative 428, 2020); violating transactions are void Source says: "A licensee shall not impose an annual percentage rate greater than thirty-six percent in connection with a delayed deposit transaction." | Nebraska Legislature (Nebraska Revised Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Delayed Deposit Services Licensing Act (Neb. Rev. Stat. 45-901 to 45-931) Source says: "Sections 45-901 to 45-931 shall be known and may be cited as the Delayed Deposit Services Licensing Act." | Nebraska Legislature (Nebraska Revised Statutes) as of 2026-09-16 |
| State lending regulator | Nebraska Department of Banking and Finance (NDBF) Source says: "The Nebraska Department of Banking and Finance is a state agency under the direct supervision of the Governor." | Nebraska Department of Banking and Finance as of 2026-09-16 |
| Delayed deposit services (payday) licensing administration | NDBF publishes delayed deposit services license guidelines, statutes, and a licensed-business search Source says: "Delayed Deposit Services (Payday Lenders)" | Nebraska Department of Banking and Finance as of 2026-09-16 |
How to compare offers in Magnet
Before you commit to a personal loan in Magnet, work through these steps:
- 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 Nebraska using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.