Oil City at a glance
- Population: the Census estimates 868 residents, ranking 168th of 302 places in Louisiana (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 898 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.3% since the 2020 count (US Census Bureau).
- Rank among Louisiana places: 168th of the state's 302 Census places (US Census Bureau).
- Size percentile: roughly 44% of Louisiana's places have fewer residents (US Census Bureau).
- Coordinates: latitude 32.7458, longitude -93.9751 (US Census Bureau Gazetteer).
- Nearest larger cities: Vivian, LA (9 mi); Blanchard, LA (11 mi); Benton, LA (14 mi); Waskom, TX (19 mi); Plain Dealing, LA (20 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Mooringsport, LA (5 mi); Belcher, LA (8 mi); Gilliam, LA (10 mi) (US Census Bureau).
What a personal loan costs in Oil City
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Oil City
The sourced rows below are the rules a licensed lender must follow when lending in Louisiana, and therefore in Oil City.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Oil City
Run through this list before signing anything in Oil City:
- 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.