Megargel at a glance
- Population: a Census-estimated 179, placing it 1,172nd among Texas's 1,224 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 176 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.7% growth over the 2020 Census base (US Census Bureau).
- Rank among Texas places: the 1,172nd-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 4% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: 33.4534 / -98.9294, per the US Census Bureau Gazetteer.
- Nearest larger cities: Olney, TX (12 mi); Archer City, TX (20 mi); Newcastle, TX (21 mi); Seymour, TX (21 mi); Throckmorton, TX (24 mi); US Census Bureau population estimates.
- Nearest smaller places: Goree, TX (34 mi); Weinert, TX (44 mi); O'Brien, TX (53 mi) (US Census Bureau estimates).
What a personal loan costs in Megargel
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Texas lending rules that apply in Megargel
The table carries the Texas rate and licensing rules that apply to consumer loans made in Megargel.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Megargel
These steps are the ones that most affect the offer you receive in Megargel:
- 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 Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.