Louisiana’s Payday Loan Laws & Legislation

Louisiana’s Payday Loan Laws & Legislation

Payday lending is legal in Louisiana and regulated by the Louisiana Deferred Presentment and Small Loan Act. Compared to other states, Louisiana’s payday loan laws are fairly straightforward and cover all parts of the lending process, including payday loan amounts, repayment terms, interest rates and more.

To make the most of your payday loan, borrowers should understand the laws, rules and regulations – so let’s break it down!

Payday Loan Borrowers’ Requirements

In Louisiana, payday loans act as short-term financial solutions with no limits on the purpose of loan usage. For example, someone could use the quick cash from a payday loan for emergencies, unforeseen expenses, home repairs, etc. 

The most significant advantage of payday loans is how easy they are to access. In Louisiana, applying for a payday loan is as simple as filling out a form. At Quick Cash 4 Less, borrowers can receive cash on the same day or in one business day after applying online.

The borrower must uphold specific requirements to take out a payday loan in Louisiana. For instance, at Quick Cash 4 Less, borrowers must:

-Be At Least 18 Years Old

-A Legal US Resident

-Have an Active Checking Account

-Provide Their Social Security Number

-Receive Regular Monthly Income

-Provide a Valid Driver’s Licence

-Provide a Valid Address

-Provide a Current Bank Statement

Louisiana Payday Loan Terms, Rates & Fees

Louisiana has a payday loan limit of $350 per contract with a maximum loan term of 30 days, and rollovers are not allowed. A $10 documentation charge, a 16.75% maximum of the amount being borrowed or a maximum fee of $45 may apply.

At Quick Cash 4 Less, we strive to lend Louisiana borrowers a helping hand during times of financial hardship or unexpected emergencies. That’s why our fees are typically lower than other lenders, and our service is unmatched. Don’t believe us? See what customers have to say about their payday lending experience with us! 

Access cash quickly with a team that cares. Apply for a payday loan today at Quick Cash 4 Less!