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Payday loans in Louisiana

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A cash advance in Louisiana can give you quick access to up to $350 — or more depending on the lender.

If you’re a resident of Louisiana, have less than perfect credit and find yourself in a financial emergency, you might be looking for an alternative to traditional bank loans. A payday loan, or cash advance, could get you through this rough patch, but understanding how these types of loans work is important.

The most important thing to keep in mind is that a payday loan is a temporary fix, not a long-term solution.

Our top pick: OppLoans Installment Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
  • Easy online application
  • Quick approval
  • Fast funding
  • Long repayment terms

Our top pick: OppLoans Installment Loans

Comes with the option to change your due date so you won’t fall behind on repayments.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $5,000
  • Turnaround Time: 1 business day
  • Loan Term: 9 to 36 months
  • Requirements: Direct deposit, meet minimum income requirements
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Can I get a payday loan in Louisiana?

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%
  • If you cannot repay a payday loan in Louisiana by its due date, you can elect to repay the loan amount in installments. You can make use of this extended payment plan through a lender only once in a 12-month period.

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.

Compare short-term loan options in Louisiana

Updated November 18th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
$1,200
As soon as the next business day
Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member
Borrow up to $1,200 — but only if you live in Missouri or Utah.
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
$50,000
Same business day to 1 business days
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
Get a flexible installment loan with fast funding through one easy online application form.
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
$10,000
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
$500
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.

Compare up to 4 providers

Why might I consider taking out a payday loan in Louisiana?

  • Apply if you have poor credit. You can apply for a payday loan even if you have poor or bad credit. This is because most payday lenders also take your existing financial situation and ability to repay into account.
  • Simple process. Applying for a Louisiana payday loan takes little time, whether you apply online or at a storefront. Some lenders that provide online loans let you complete the identity verification process using the Internet, so you don’t have to fax any documents.
  • Get money quickly. If you’re looking for fast cash in Louisiana, getting a payday loan could work well for you. By applying at a storefront you can usually get your hands on the approved funds on the day you apply. With online loans, you can typically get the money in your bank account by the next business day.
  • Use funds for different purposes. You can use proceeds from a Louisiana payday loan for any legitimate purpose. You can use the money you get to repair your car, pay bills or get by during a rough patch.

The skyline

What does a payday loan cost 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. You may also have to pay court costs and reasonable attorney fees.
  • 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.
  • Rollovers. Louisiana payday loan laws don’t permit renewals or rollovers. However, a lender may accept a partial payment of 25% of the advanced amount along with applicable fees and enter into a new loan contract.

How can I apply for a payday loan in Louisiana?

You can apply online by clicking Go to site on your chosen lender above or by walking into your nearest short term lender’s store. Eligibility criteria will differ between Louisiana lenders, but will generally include the following:

  • You are over 18 years of age
  • You are an American citizen or a permanent resident of the U.S.
  • You have a regular source of income

Completing the application successfully requires that you submit different kinds of information:

  • Your name, date of birth and Social Security number
  • Details from a valid form of identification such as your driver’s license, passport or state ID
  • Your residential address, email address and phone number
  • Details about your employment, income and pay frequency

Payday loan regulations in your home state

Alternatives 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 Louisiana’s support programs, such as the Temporary Assistance to Needy Families or the Family Independence Temporary Assistance Program (FITAP).

Consider alternative 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.

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