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Payday Loans in Louisiana

What can you do if you suddenly detect yourself strapped for cash between your paychecks? Ask your family for money, or look for other fast funding options available? Of course, getting extra cash from relatives is always a good deal since you don't have to pay interest in return. However, this free-of-charge method isn't always available. 

As a quick alternative, you may pick up a small emergency loan featuring a short-term payment plan and simple application processing. These loans also go in the name of paycheck loans, as you pay them off once you get your next paycheck. With DircetFundToday, you may get your cash online from license lenders and skip all the annoying hassle of visiting in-store locations. 


How to Apply for a Louisiana Payday Loan? is a lender connecting website meant to connect borrowers with third-party lenders. If you want to skip Louisiana traffic and avoid visiting a local store, you are welcome to apply online. Fill out your credit application from anywhere online and get your credit request forwarded to multiple lenders. Once you are approved, you may get your funds as soon as the next working day directly deposited into your bank account. 


What do I Need to Qualify for a Cash Loan?


Before filling out your credit request, make sure you comply with the minimum eligibility criteria. Most lenders require that a borrower:


  1. Must be a US resident who has reached the age of 18, 

  2. Must have valid identification, 

  3. Must have an active bank account, 

  4. Must provide a stable source of income. 


How much can I Borrow with a Payday Loan?


Our online lenders offer to get up to $2500 payday loans online. The range of cash you may qualify for mainly depends on where you live (local regulation) and your financial health. Remember, before applying for a payday loan, you need to check the state's law and consider your ability to pay off your debt on the agreed date. These loans are not suited for everyday financial needs; weigh all pros and cons before applying. 


Can I Renew my Loan?


Renewing a loan, also referred to as a rollover, is meant to be an extension of your debt. In other words, you pay an additional charge to delay settling the amount you owe. Many payday lenders offer to renew a loan as soon as a borrower cannot afford to pay back the amount on its due date. However, you need to consider that the loan renewal doesn't reduce the principal amount; it simply extends the due date. In order not to roll over your credit (thus paying additional fees), you need to read and understand the credit terms set out in your loan agreement. 


Can I get a Loan for Bad Credit in Louisiana? 


Bad credit is one of the worst things that can happen to you in terms of finance. It literally restricts your right to pick up extra advances to make your ends meet. However, holding poor credit is not the endgame as you may still have a funding option in the shape of bad credit loans. Of course, they cannot come with the best rates, but they may save the situation and provide you with a stash of fast cash. 


As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.

Regulations of Payday Loans in Louisiana
Status     Legal
Annual Percentage Rate (APR)     391%
Minimum Loan Amount     N/A
Maximum Loan Amount     $350
Minimum Loan Term     N/A
Maximum Loan Term     30 days
Number of Rollovers Allowed     N/A
Finance Charges     16.75% of the amount advanced
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

La. Stat. Ann. 9:3578.1 et seq., or Louisiana Deferred Presentment and Small Loan Act, regulates the payday industry.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
In case of any assistance in regard to payday loans, one can contact the Louisiana Office of Financial Institutions (OFI).

[ Updated on 05-Aug-2021, 21:45 ]

We've been in the industry for more than six years.