Martin at a glance
- Population: roughly 508 people; 209th of 302 places in Louisiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 525 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.2% since the 2020 count (US Census Bureau).
- Rank among Louisiana places: the 209th-largest of 302 (US Census Bureau, 2023 estimate).
- Size percentile: about 31% of places in Louisiana are smaller (US Census Bureau).
- Coordinates: 32.0999 latitude, -93.2191 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Coushatta, LA (9 mi); Campti, LA (15 mi); Ringgold, LA (16 mi); Natchitoches, LA (26 mi); Pleasant Hill, LA (26 mi); US Census Bureau population estimates.
- Nearest smaller towns: Ashland, LA (6 mi); Hall Summit, LA (7 mi); Edgefield, LA (8 mi) (US Census Bureau).
What a personal loan costs in Martin
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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 Martin
The sourced rows below are the rules a licensed lender must follow when lending in Louisiana, and therefore in Martin.
| 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 Martin
The order below is a sensible way to approach a loan in Martin:
- 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.