Richmond at a glance
- Population: 482 residents, the 214th-largest of 302 places in Louisiana (US Census Bureau, Vintage 2023).
- 2020 Census base: 515 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 6.4% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Louisiana places: 214th in population of 302 places (US Census Bureau).
- Size percentile: about 29% of Louisiana's Census places are smaller (US Census Bureau).
- Coordinates: 32.3884, -91.1804 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Tallulah, LA (1 mi); Vicksburg, MS (18 mi); Delhi, LA (19 mi); Newellton, LA (22 mi); Lake Providence, LA (29 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: Mound, LA (10 mi); Delta, LA (14 mi); Epps, LA (23 mi) (US Census Bureau estimates).
What a personal loan costs in Richmond
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Louisiana lending rules that apply in Richmond
The sourced rows below are the rules a licensed lender must follow when lending in Louisiana, and therefore in Richmond.
| 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 Richmond
Before you commit to a personal loan in Richmond, work through these steps:
- 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.