Borrowing in Magrath, Alberta

Magrath, Alberta, recorded a population of 2,481 in the 2021 Census; the rules that govern a loan signed there are provincial.

The Alberta rules that apply

Licensing for consumer credit in Alberta sits with the province or territory, and the Financial Consumer Agency of Canada maintains the public list of provincial and territorial regulators.

A payday advance in Alberta falls under a provincial licensing regime, and the cost of borrowing is capped at $14 per $100 advanced according to the federal Payday Lending Regulations (SOR/2024-114).

At the small end of the census range, the community still borrows inside the province's licensing system.

The census figures for Magrath

2,481 people were counted in Magrath in the 2021 Census. Land area for Magrath is 5.9 square kilometres in the same census.

That gives a density of 421.9 people per square kilometre, rounded to one decimal place.

Among covered Alberta places, Magrath sits at rank 132 by population.

Magrath therefore appears at rank 132 of 361 covered Alberta places, with a density of 421.9 people per square kilometre.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Business lines of credit: A revolving operating limit for a business, and why it behaves differently from a term loan.
• Collateral loans: Borrowing against an asset a lender will hold, from vehicles to savings, and what happens on default.

How borrowing works locally

A secured product gives the lender a claim on a named asset, which is why its price is usually lower than an unsecured equivalent.

Disclosure requirements mean the cost of borrowing must be stated before an agreement is signed. A broker arranges credit but does not lend, and the lender remains the party that makes the decision.

At 2,481 residents in the 2021 Census, Magrath is listed alongside the other covered places in Alberta.

Magrath is one of 361 covered Alberta places, counted at 2,481 residents with a land area of 5.9 square kilometres.

Magrath appears in the census record with 2,481 residents, and the density of 421.9 people per square kilometre follows from it.

Magrath sits at rank 132 within Alberta in this data set, and the provincial rules apply as they do elsewhere.

The Magrath page follows the same structure as every other place page, with population, land area, density and rank.

Magrath ranks 132 by 2021 Census population among the covered places in Alberta.

The land area recorded for Magrath is 5.9 square kilometres, and the population is 2,481 residents in the 2021 Census.

Readers comparing Magrath with another community can use the same four census fields.

Nothing on the Magrath page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The density figure for Magrath, 421.9 people per square kilometre, is calculated from the population and land area above.

Where a figure for Magrath could not be verified, the page names the publisher instead of printing a number.

For Magrath, the two census fields above are the only local statistics used anywhere on the page.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Census figures are from Statistics Canada's 2021 Census of Population, and the payday position is taken from the federal Payday Lending Regulations (SOR/2024-114).

The same structure is used for every place covered, so two communities can be compared field by field: population, land area, density, rank, and the provincial rules.