Richwood at a glance
- Population: a Census-estimated 3,807, placing it 77th among Louisiana's 302 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 3,884 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a decline of roughly 2.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Louisiana places: 77th of 302 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 75% of Louisiana's Census places by population (US Census Bureau).
- Coordinates: 32.4486, -92.0773 (US Census Bureau Gazetteer).
- Nearest larger cities: Monroe, LA (5 mi); West Monroe, LA (6 mi); Bastrop, LA (25 mi); Winnsboro, LA (29 mi); Ruston, LA (33 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Sterlington, LA (17 mi); Rayville, LA (19 mi); Mangham, LA (20 mi) (US Census Bureau).
What a personal loan costs in Richwood
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total 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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Louisiana lending rules that apply in Richwood
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Richwood
A few practical steps will make the process in Richwood less costly:
- 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.