New Orleans at a glance
- Population: a Census-estimated 364,136, placing it 1st among Louisiana's 302 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 383,997 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a decline of roughly 5.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Louisiana places: 1st of the state's 302 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 99% of Louisiana's Census places by population (US Census Bureau).
- Coordinates: mapped at 30.0534, -89.9345 by the US Census Bureau Gazetteer.
- Nearest larger cities: none within 120 miles — the next larger place is further out.
- Nearest smaller towns: Gretna, LA (12 mi); Westwego, LA (16 mi); Harahan, LA (18 mi) (US Census Bureau).
What a personal loan costs in New Orleans
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Louisiana lending rules that apply in New Orleans
The sourced rows below are the rules a licensed lender must follow when lending in Louisiana, and therefore in New Orleans.
| 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 New Orleans
The order below is a sensible way to approach a loan in New Orleans:
- 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.