Iota at a glance
- Population: 1,256 (US Census Bureau, Vintage 2023 subcounty estimate), the 142nd-largest of 302 places in Louisiana.
- 2020 Census base: 1,306 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down about 3.8% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Louisiana places: 142nd by size among 302 communities (US Census Bureau).
- Size percentile: it exceeds roughly 53% of Louisiana's Census places by population (US Census Bureau).
- Coordinates: 30.3261 / -92.4956, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Crowley, LA (10 mi); Jennings, LA (12 mi); Eunice, LA (12 mi); Rayne, LA (15 mi); Church Point, LA (18 mi) (US Census Bureau populations).
- Nearest smaller towns: Estherwood, LA (10 mi); Mermentau, LA (11 mi); Basile, LA (13 mi) — US Census Bureau populations.
What a personal loan costs in Iota
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
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 Iota
Each row below is a Louisiana rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Iota
Before you share your details with a lender in Iota:
- 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.