Choudrant at a glance
- Population: the Census estimates 1,017 residents, ranking 152nd of 302 places in Louisiana (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 987 residents here (US Census Bureau).
- 2020 to 2023 change: population rose about 3.0% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Louisiana places: 152nd of 302 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 50% of Louisiana's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 32.5331, -92.5262.
- Nearest larger cities (within 120 miles): Ruston, LA (6 mi); Grambling, LA (11 mi); Farmerville, LA (18 mi); Bernice, LA (22 mi); West Monroe, LA (22 mi) (US Census Bureau populations).
- Nearest smaller places: Vienna, LA (9 mi); Downsville, LA (9 mi); Eros, LA (11 mi) (US Census Bureau estimates).
What a personal loan costs in Choudrant
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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 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 Choudrant
The sourced rows below are the rules a licensed lender must follow when lending in Louisiana, and therefore in Choudrant.
| 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 Choudrant
Before you commit to a personal loan in Choudrant, 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.