Montgomery at a glance
- Population: 620 — 195th in Louisiana, which has 302 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 626 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.0% lower than the 2020 Census base (US Census Bureau).
- Rank among Louisiana places: the 195th-largest of 302 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 35% of the Census places in Louisiana (US Census Bureau).
- Coordinates: latitude 31.6674, longitude -92.8871 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Natchitoches, LA (13 mi); Colfax, LA (15 mi); Campti, LA (21 mi); Winnfield, LA (23 mi); Boyce, LA (23 mi) (US Census Bureau populations).
- Nearest smaller towns: Natchez, LA (9 mi); Atlanta, LA (13 mi); Clarence, LA (13 mi) — US Census Bureau populations.
What a personal loan costs in Montgomery
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Louisiana lending rules that apply in Montgomery
Each row below is a Louisiana rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Montgomery
Here is a short checklist for comparing personal loans in Montgomery:
- 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.