Payday Loan Definition
You can receive the money you need with a payday loan until your next paycheck. The loan has the shortest term available to you, and you can pay it off early without incurring any fees. When you need a little more cash to get by, a payday loan in Louisiana can be a terrific solution.
Payday loans for Bad Credit should never be used for anything but immediate emergencies. Payday loans are not the solution if you need extra money to spend on shopping or entertainment. Anyone dealing with persistent financial issues should look into other choices.
To make sure you can afford this loan during the specified time period, always read the lender’s terms and conditions carefully. The amount of interest you must pay will go up if you are unable to make a repayment by the due date for whatever reason, and your credit score may suffer as a result.
Is a Payday Loan in Louisiana the Best Option for Me?
Many of our borrowers engage with trusted loan providers to find short-term financial solutions for issues like an unanticipated medical bill, a burst plumbing, or a broken car. After our panel has given you the go light, the money might be in your bank account in less than an hour. Trusted loan companies assist residents of Louisiana in locating the finest options for a payday loan.
Select your city to find the best Payday Loan direct lenders near you
- New Orleans
- Baton Rouge
- Shreveport
- Metairie
- Lafayette
- Lake Charles
- Bossier City
- Kenner
- Monroe
- Alexandria
- Houma
- Marrero
- New Iberia
- Laplace
- Central
- Prairieville
- Slidell
- Terrytown
- Ruston
- Harvey
- Bayou Cane
- Hammond
- Sulphur
- Chalmette
- Shenandoah
- Natchitoches
- Gretna
- Zachary
- Opelousas
- Estelle
- Thibodaux
- Pineville
- River Ridge
- Baker
- Belle Chasse
- Crowley
- West Monroe
- Youngsville
- Bayou Blue
- Minden
- Abbeville
- Moss Bluff
- Mandeville
- Luling
- Woodmere
- Bogalusa
- Morgan City
- Claiborne
- Broussard
- Destrehan
- Jefferson
- DeRidder
- Timberlane
- Gonzales
- Gardere
- Bastrop
- Denham Springs
- Covington
- Eunice
- Jennings
- Reserve
- Raceland
- Waggaman
- Fort Polk South
- Merrydale
- Harahan
- St. Rose
- Carencro
- Scott
- Oak Hills Place
- Westwego
- Breaux Bridge
- Donaldsonville
- Prien
- Rayne
- Galliano
- Lacombe
- Oakdale
- Schriever
- Eden Isle
- Ville Platte
- Ponchatoula
- St. Gabriel
- Village St. George
- Old Jefferson
- Franklin
- Bridge City
- Larose
- Tallulah
- Plaquemine
- Red Chute
- Inniswold
- Meraux
- Walker
- Leesville
- Violet
- St. Martinville
- Patterson
- Brownfields
- Marksville
Online Application Process
You can obtain a payday loan online if you live in Louisiana and don’t need to go into a store. A representative will get in touch with you after you submit your online application to begin the phone application process. If accepted, a payday loan verification agent from the chosen company will answer all of your questions regarding cash assistance. You will be able to acquire the same day cash you require if all the paperwork is in place.
What Do I Need To Apply For a Payday Loan?
Always verify your loan eligibility before utilizing the online request form to avoid wasting time and being let down. There are four essential qualifications to meet in order to be qualified for a payday loan in Louisiana. Candidates must be US citizens who are at least 18 years old. The borrower must provide proof of a minimum $1000 monthly income. Finally, you will require a bank account that is open and where your payday loan can be paid.
Are Payday Loans legal in Louisiana?
Loan Rates and Fees, Laws and Regulations in Payday Loans. Consumer loan act imposes some restrictions on Payday Loans in Louisiana. But one can legally apply for $1000 - $5000 Installment and $5000 - 35,000 Personal loans. According to Md. Code Com. Law § 12-101 et seq.1 and Senate Joint Resolution 7 of 20022 the APR on Payday cash advance mustn’t exceed 2.75% per month; 33% per year.
| Legal Status | Legal |
|---|---|
| Maximum Loan Amount | $350.00 |
| Repayment Term | up to 60 days |
| Average APR | 391.00% |
| Finance Charges | 16.75% of face-value of check, + $10 documentation fee (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year) |
| Additional Fees | $10 documentation fee |
Can I Still Get A Payday Loan In Louisiana With Bad Credit?
You can be qualified for a loan even with very poor credit. Even if you’ve previously been denied a loan due to your poor credit by a bank, credit union, or app, you can still obtain a payday loan in Louisiana. We think you should always have the chance to recover your financial stability, even if you’ve made a mistake in the past that has hurt your credit score. A trusted loan company, which works with borrowers from various walks of life, will assist you in beginning your search for the ideal payday loan right away.
What Are The Payday Loan Repayment Terms In Louisiana?
Depending on the lender you choose to work with, the terms and circumstances of your loan will change. We discover that the most typical repayment period for short loans ($1,000 or less) is two to four weeks.
These payments are typically dispersed over a longer length of time if you’re borrowing big sums. The maximum loan period in Louisiana is 30 days, and rollovers are not permitted by law. If for whatever reason you find it difficult to repay the loan in full, this may increase the amount of interest you must pay and may have a long-term bad effect on your credit score.
Can I Quickly Obtain A Payday Loan In Louisiana?
Make sure you have the necessary information available to fill out the form, such as your bank account information, to speed up the procedure and enable you receive quick access to funds. Make sure to submit your application during regular business hours in Louisiana because this is when most loans are authorized if you want the decision as soon as possible. It’s more likely that your loan will be authorized if you can answer right away to questions or requests for documents.
Payday Loan Calculator
$500 Your loan + $79 Your fee = $579 Total Cost*
* Total Cost - The sum of money you are to pay off within the term you’ve chosen if you borrow the stated above amount for the average (or required by your lender) APR.
