Chatham at a glance
- Population: about 479 residents, ranking 215th of 302 Census places in Louisiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 490 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 2.2% below the 2020 Census base (US Census Bureau).
- Rank among Louisiana places: the 215th-largest of 302 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 29% of the places in Louisiana (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 32.3092, -92.4514.
- Nearest larger cities: Jonesboro, LA (16 mi); Choudrant, LA (16 mi); Ruston, LA (19 mi); Grambling, LA (21 mi); West Monroe, LA (22 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Eros, LA (6 mi); East Hodge, LA (15 mi); North Hodge, LA (16 mi) (US Census Bureau).
What a personal loan costs in Chatham
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Louisiana lending rules that apply in Chatham
The table lists the Louisiana rules that apply to a loan made in Chatham, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Chatham
A few practical steps will make the process in Chatham less costly:
- 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.