Norwood at a glance
- Population: a Census-estimated 271, placing it 246th among Louisiana's 302 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 280 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a loss of about 3.2% since the 2020 count (US Census Bureau).
- Rank among Louisiana places: the 246th-largest of 302 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 19% of the places in Louisiana (US Census Bureau).
- Coordinates: 30.9734 latitude, -91.1103 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Wilson, LA (3 mi); Centreville, MS (8 mi); Clinton, LA (10 mi); Jackson, LA (11 mi); Woodville, MS (14 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Crosby, MS (21 mi); Montpelier, LA (33 mi); Palmetto, LA (51 mi) (US Census Bureau estimates).
What a personal loan costs in Norwood
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.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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 Norwood
Read the table as the compliance picture for a lender serving Norwood: label, sourced figure, publisher and date.
| 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 Norwood
These steps are the ones that most affect the offer you receive in Norwood:
- 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.