Clayton at a glance
- Population: about 544, 204th by size in Louisiana of 302 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 584 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 6.8% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Louisiana places: 204th largest of 302 (US Census Bureau).
- Size percentile: roughly 32% of places in Louisiana rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 31.7222, -91.5346.
- Nearest larger cities: Ferriday, LA (6 mi); Vidalia, LA (12 mi); Natchez, MS (15 mi); Jonesville, LA (19 mi); Wisner, LA (19 mi); US Census Bureau population estimates.
- Nearest smaller towns: Ridgecrest, LA (8 mi); Waterproof, LA (11 mi); Sicily Island, LA (11 mi) — US Census Bureau populations.
What a personal loan costs in Clayton
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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 Clayton
Read the table as the compliance picture for a lender serving Clayton: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clayton
These steps are the ones that most affect the offer you receive in Clayton:
- 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.