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You can borrow up to $350 through a payday loan in Lousiana

If you’re a resident of Louisiana and in need money quickly, you might be considering applying for a payday loan. Payday loans have plenty of regulations to help consumers, but it’s in your best interest to learn about them here before applying.

LendUp Payday Loans

LendUp Payday Loans

Apply for a payday loan conveniently online and borrow between $100 and $250.

  • Min. loan amount: $100
  • Loan term: 7–30 days
  • Total costs: Depends on your state, loan product, loan amount and the term of the loan.
  • Must be 18+
  • No security deposit needed
  • Confidential and secure
  • Accepting new applications in the following states only: CA, LA, MS, MO, OH, TN, TX, WI

    Can I get a payday loan in Lousiana?

    Yes, payday loans up to $350 are legal in Louisiana. The laws fall under the Louisiana Revised Statutes Annotated §§ 9:3578.1 et seq., which dictate the rules lenders must abide by in order to obtain a license.

    • Max Loan: $350
    • Loan Term: 60 days or less
    • APR: The APR for a 14-day $100 loan is 780%

    Louisiana doesn’t have a limit on the amount of loans you can take out at once, but keep in mind that the more loans you have, the more debt you will accumulate. The best decision is to have only one outstanding loan at a time.

    If you have any complaints about a lender, contact the Louisiana Office of Financial Institutions.

    Lenders that offer payday loans

    Check the websites of any providers you’re interested in to confirm they operate in Louisiana.

    Rates last updated November 20th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    LendUp Payday Loans
    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
    $250
    7–30 days
    generally receive the money the next business day
    Be 18+ years of age and have a checking account that can accept electronic transfers.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    Check into Cash Payday Loan
    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
    $1,000
    Varies by state
    1–2 business days
    You must be at least 21 and an American citizen and have a bank account, email address and phone number.
    ACE Cash Express Payday Loans
    Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
    Varies by state
    Varies by state
    Generally receive the money the next business day
    Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

    Compare up to 4 providers

    What does a payday loan costs in Louisiana?

    Depending on how much you borrow and how long your loan term is, you may face higher interest costs. Here’s a breakdown of what you’ll likely have to pay:

    • Financing fees. Direct payday lenders can charge up to $20 per $100 borrowed and a $10 documentation fee. The total fees cannot exceed $55 for loans between $220 to $350.
    • Early repayment fees. You don’t have to pay any fees or penalties if you repay your loan ahead of time, so it’s in your best interest to get ahead of your due date to avoid any extra charges.
    • Collection fees. Payday lenders in Louisiana can charge a non-sufficient funds (NSF) fee based on the bank charge and either 5% of the check or $25, whichever is greater.
    • Default fees. If you default, the lender can charge an APR of 36% for the first 12 months and an APR of 18% after the 13th month.

    How can I apply for a payday loan in Louisiana?

    Provided you’re over 18 years old, are a US citizen or permanent resident and have a regular source of income, you are likely eligible for a payday loan. When you apply, you’ll need to provide sensitive personal information like your Social Security number, details about your current employment and, for online applicants, access to your checking account.

    Some things you should consider before taking out a payday loan

    While payday loans can be helpful in emergency situations, you should never rely on them as a long-term system of funding. These are high-cost loans that can quickly add to your debt. If you find yourself struggling to pay back your loan, you might want to contact some of Lousiana’s support programs, such as the Temporary Asisstance to Needy Families or the Family Independance Temporary Asisstance Program (FITAP).

    Consider some other options before taking on more debt

    Bottom line

    A payday loan can be a good way of financing an emergency, but you’ll need to be wary of the high costs of default and the possible extra charges that come with your loan. It’s best to exhaust all other options before turning to payday lenders.

    Have any more questions about payday loans in Louisiana?

    No, but they can initiate civil proceedings to collect overdue funds. You may be required to pay attorney’s fees and court costs associated with recovering the debt.

    Yes, but keep in mind that taking multiple loans can lead to further financial hardship.

    Yes. Lenders are required to offer a payment plan of four equal installments with no fees or interest every 12 months.

    Louisiana law doens’t permit rollovers, however, a lender can accept a 25% partial payment on the previous loan before starting a new loan. The lender may charge fees for this service and the remaining 75% of your previous loan.

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