Lake Providence at a glance
- Population: about 3,194, 84th by size in Louisiana of 302 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 3,586 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 10.9% since the 2020 count (US Census Bureau).
- Rank among Louisiana places: 84th largest of 302 (US Census Bureau).
- Size percentile: roughly 72% of places in Louisiana rank below it by population (US Census Bureau).
- Coordinates: 32.8020, -91.1752 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Tallulah, LA (27 mi); Vicksburg, MS (37 mi); Greenville, MS (41 mi); Rayville, LA (41 mi); Bastrop, LA (43 mi) (US Census Bureau).
- Smaller towns nearby: Mayersville, MS (10 mi); Oak Grove, LA (13 mi); Forest, LA (14 mi) (US Census Bureau).
What a personal loan costs in Lake Providence
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Louisiana lending rules that apply in Lake Providence
The table carries the Louisiana rate and licensing rules that apply to consumer loans made in Lake Providence.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per annum maximum conventional interest (La. R.S. 9:3500(C)(1)) Source says: "The amount of the conventional interest cannot exceed twelve percent per annum." | Louisiana State Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment and small loans ($350 or less, 60 days or less) under OFI-issued licenses Source says: "Persons who make loans of $350 or less for a term of 60 days or less." | Louisiana Office of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer loan license required from OFI before making consumer loans Source says: "Persons who wish to engage in the business of making consumer loans must hold a consumer loan license issued by this Office" | Louisiana Office of Financial Institutions as of 2026-09-16 |
| State lending regulator | Louisiana Office of Financial Institutions (OFI), Non-Depository Division Source says: "OFI is responsible for the supervision of various entities which provide financial services to the citizens of the State of Louisiana." | Louisiana Office of Financial Institutions as of 2026-09-16 |
| Licensed-lender consumer loan finance charge caps | 36% first $1,400; 27% to $4,000; 24% to $7,000; 21% above (R.S. 9:3519(A)) Source says: "Thirty-six percent per year for that portion of the unpaid principal amount of the loan not exceeding one thousand four hundred dollars" | Louisiana State Legislature as of 2026-09-16 |
How to compare offers in Lake Providence
These steps are the ones that most affect the offer you receive in Lake Providence:
- 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 Louisiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.