Morgan City at a glance
- Population: 10,873 — 32nd in Louisiana, which has 302 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 11,472 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 5.2% below the 2020 Census base (US Census Bureau).
- Rank among Louisiana places: 32nd largest of 302 (US Census Bureau).
- Size percentile: larger than about 89% of the Census places in Louisiana (US Census Bureau).
- Coordinates: latitude 29.7103, longitude -91.1915 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Thibodaux, LA (23 mi); Houma, LA (30 mi); Gonzales, LA (38 mi); New Iberia, LA (43 mi); Broussard, LA (54 mi) (US Census Bureau populations).
- Smaller places nearby: Berwick, LA (3 mi); Patterson, LA (7 mi); Napoleonville, LA (19 mi), per US Census Bureau estimates.
What a personal loan costs in Morgan City
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Louisiana lending rules that apply in Morgan City
The Louisiana rate caps and licensing rules that reach Morgan City are listed below, each with its source and retrieval date.
| 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 Morgan City
Here is a short checklist for comparing personal loans in Morgan City:
- 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.