Louisiana is one of the stricter states when it comes to what companies can charge you, the consumer. This state had many borrowers stuck in a never ending borrowing cycle ten years ago and legislation was imposed to help residents overcome this financial burden. This legislation imposed a low maximum loan rate of $350 and gave people up to 60 days to pay it off in full. While this may sound like a small amount for a loan, it’s low so you can successfully pay it back within the allotted time without incurring NSF fees from your bank or additional charges from lenders.
Louisiana Pay Day Loan Laws
Maximum Loan Amount: $350
Maximum Finance Rate: $5 documentation fee in addition to 16.75% of check or $45, whatever’s greater.
Annual Percentage Rate For 14 Day $100 Loan: 650%
Minimum Payoff Time: 1-60 Days
Extensions Allowed: None
Top 5 Louisiana Payday Loan Companies
1427 West Lasalle Street
Ville Platte, LA
(337) 363-5050
moneymart.com
Money Mart and Loan Mart are sister stores with locations in many different states. This company allows Louisiana residents the chance to get payday loans as well as cash checks, purchase money orders, use Western Union and even get their federal/state tax returns prepared. Money Mart frequently has special deals and offers so it’s beneficial to check out their official website occasionally if you think you’ll get a payday loan in the near future.
8661 Siegen Lane
Baton Rouge, LA
(225) 761-4041
nationalcashadvance.com
National Cash Advance offers the standard array of personal finance services such as money orders, check cashing and payday loans. In the state of Louisiana, the company allows you to borrow up to $350 with a repayment time of up to 60 days. This company has tons of physical locations in the US, Canada, and the United Kingdom.
11255 Florida Boulevard
Baton Rouge, LA
(225) 273-0039
easymoneynow.com
Easy Money stores can be found all over Louisiana with multiple locations in the larger cities. This company specializes in quick and easy payday loans that you can apply for from the comfort of your own home by using their website. Easy Money a great emphasis on customer service to encourage repeat business. If you check the website often, you may find seasonal specials related to payday loan charges and interest rates.
585 South Morrison Boulevard
Hammond, LA
(985) 345-3761
speedycash.com
Speedy Cash is a direct payday loan lender that has been in business for over 10 years. You can apply for, qualify for, and even receive your money completely online. They do have numerous physical offices in Louisiana should you prefer to do your business in person. Speedy Cash is also a member of the CFSA or Community Financial Services Association of America.
5355 Government Street
Baton Rouge, LA
(225) 927-3290
checkintocash.com
Check Into Cash offers cash advance, online payday a advances, title loans, in-store check-cashing, Western Union services, bill pay services and reloadable cards. You can find these stores all across North America and their website has a handy store locator so you can find the one nearest you. The official website features a state fee schedule so you will know exactly what you’ll have to pay in relation to how much you borrow.