Best Payday Loan Lenders in Louisiana

Back in the 1990s, the Louisiana Deferred Presentment and Small Loan Act excluded payday loans from usury laws, and storefronts started popping up throughout the Bayou State. Nowadays, however, the payday loans Louisiana has to offer to its residents are strictly regulated, which makes for a much better lending scene. This doesn’t make all lenders in the states equal, though, which is why we compiled a list of the top brands in the industry. Browse at your leisure.

Best Payday Loans Providers in Louisiana

Speedy Cash Logo

Speedy Cash

Reset. Refocus. Restart.

Speedy Cash (or Rapid Cash in Nevada, Oregon, and Washington) is another reputable payday loans provider. They opened their first store in California back in 1997, and have been expanding ever since. Today, the company operates around 200 stores in 14 states. Speedy Cash is a member of the Online Lenders Alliance, ensuring fair treatment and adherence to a code of conduct.

Available in: AL, AK, CA, HI, LA, NV, ND, OR, TX, WA, WI, WY

Loan amount: $100-$500 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (214-460%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Flexible Finance Loans Logo

Flexible Finance Loans

Need Cash? We can help.

While this company might not be a large-scale giant like other brands on our list, they still offer top online as well as in-store loans for US citizens. In-store loans are available at 40 locations across the 6 states they serve. Flexible Finance boasts a 99,97% customer satisfaction rate.

Loan amount range: $100 to $350

Loan term: up to 30 days

APR: Depends on loan term (409% to 782%)

Min. credit score: N/A

Origination fee: $10

Finance charge: $20 for every $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Louisiana stores: 23

Online application: No

24/7 open: No

Money Mart Logo

Money Mart

From a little to a lot. We've got you covered.

Money Mart is an international company that does business in the US and Canada. Applying for and obtaining their services is extremely easy since they offer online and in-store loans. If you're in a tough financial situation and need quick access to cash, then come right in.

Loan amount range: $50 to $500

Loan term: 14 to 32 days

APR: 456% for a 14-day loan

Min. credit score: N/A

Finance charge: $17.50 for every $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Hawaii stores: 8

Online application: Yes

24/7 open: No

Laws Governing Payday Loans in LA

Payday loans had a 12% usury cap in Louisiana before the ‘90s. However, the scene changed in the following decade with the implementation of the Louisiana Deferred Presentment and Small Loan Act that exempted them from usury laws. Nowadays, payday loans are legal, albeit strictly regulated.

State Law

Payday Loan Requirements in Louisiana

Bad Credit Payday Loans in Louisiana

Borrowers with bad credit scores are the prime audience of payday lenders. This won’t be a limiting factor in acquiring a loan.

Failing to Repay a Payday Loan in Louisiana

Let’s get the most crucial piece of information out of the way, failure to repay a loan is not a criminal act. This means that debtors can’t be imprisoned if they’re unable to repay the loan. Louisiana payday loan laws allow borrowers to enter into a payment plan once a year. The loan will be divided into four equal installments without any additional fees or interest. Payday loans must be repaid during this period. Otherwise, the debt will likely be sold to a collection agency.

Reviews of the Best Payday Loans in Louisiana

Speedy Cash

With only 7 storefronts, Speedy Cash has the lowest physical presence in The Pelican State. Nevertheless, their excellent online service more than makes up for the lack of brick-and-mortar stores. Speedy Cash has been renewing its license with the Louisiana Office of Financial Institutions since 2015.

Pros

Cons

Lending Offer Overview

If you’re looking to take out a Louisiana payday loan online Speedy Cash has you covered with the most affordable options in the Bayou State. They have a couple of decades worth of experience, so you know you’re in good hands. Their offer is a bit better than average, and this is what customers can expect — a loan term of up to 30 days, with possible extensions. In-store loans range from $100 to $300, while online ones go from $100 to $350. Speedy Cash’s top LA payday loans come with a lower than average APR of 325%. There is a $10 origination fee in addition to $16.75 per $100 borrowed finance charge. Rollovers are forbidden by state law. However, customers can refinance a loan provided that they repay at least 25% of the principal amount.

Other Features

Speedy Cash offers both in-store and online payday loans. Both options come with upsides and downsides — going to a storefront is more time-consuming, but you receive the money pretty much instantly. Alternatively, there’s a 24 business hours delay if you choose one of their online payday loans in Louisiana with no credit check, but you’ll save on commute time. This company has a  handy mobile app (available on Android and iOS) that helps customers manage their loans and accounts on the go. Their friendly customer support is available by phone or via email.

Check Into Cash

Check into Cash is an easily recognizable name in the lending industry. They offer online and in-store payday loans. This brand is one of the more accessible lenders, with 21 stores statewide. Check into Cash has been licensed by the State of Louisiana Commissioner of Financial Institutions since 2015.

Pros

Cons

Lending Offer Overview

Check into Cash is one of the oldest brands in the industry. Louisiana payday loans are heavily regulated, so this company’s offer won’t differ much from their competitors. Borrowers have up to 30 days to pay their loans off. The loan amount is nothing out of the ordinary – in-store loans range from $100 to $300, whereas the online options start at $100 and cap out at $350. Above-average APR is one of the downsides of this company. It ranges from 409% to 782%. Customers are expected to pay a substantial $20 fee per $100 borrowed, plus an additional $10 origination fee. Rollovers are banned by state law. On the other hand, refinancing a loan is possible provided specific requirements are met. Customers need to repay at least 25% of the principal amount to be granted this option.

Other Features

Check into Cash provides both in-store cash advances as well as top online payday loans in Louisiana. Procuring a loan is extremely easy. The only thing you need to do is fill out a simple and straightforward application form. The whole process usually doesn’t take longer than 10 minutes. If you prefer managing your finances on the go, Check into Cash has you covered. They offer a handy smartphone app that lets you keep track of your account and loan while on the move. You can contact their expert customer support if you ever have questions about your loan.

Advance America

You can see Advance America’s storefronts at almost every turn, making them the most readily available lender in the state. Additionally, they offer the best online payday loans in Louisiana. Advance America has been licensed by the State of Louisiana Commissioner of Financial Institutions since 2015.

Pros

Cons

Lending Offer Overview

Being the biggest company in a state, Advance America has a reputation to uphold. The company has been giving out loans since 1998, and they have an almost perfect track record. Their offer won’t surprise you, but it does come with lower-than-average fees and APR. Speaking of the interest rate, it ranges between 327% and 703%. As expected, customers need to pay a $10 origination fee along with a finance charge of $17 per $100 received. Their online payday loans in Louisiana fluctuate from $100 to $300, whilst in-store ones go up to $350. The loan term cannot extend past 30 days, and rollovers are forbidden. While refinancing a loan is possible, borrowers must repay at least a quarter of the principal amount first.

Other Features

Advance America made the application process as convenient and straightforward as possible. Their clients can apply in three ways — over the phone, in-store, or online. In any case, the application process can be completed in a matter of minutes. The outstanding client experience they offer is further enhanced by their welcoming customer support. Advance America likes to give back to the community, prompting them to launch a charity program. They donate to both national and local non-profit organizations.

Flexible Finance Loans

Flexible Finance has stores in 23 locations throughout the state. Unfortunately, they don’t offer online payday loans in Louisiana. Their services, however, fall in line with the industry standard, which the clients seem to appreciate. They obtained their license from the State of Louisiana Commissioner of Financial Institutions in 2005.

Pros

Cons

Lending Offer Overview

Flexible Finance is a company with a couple of decades worth of experience, and the overwhelming majority of their customers are satisfied with their services. The only downside we could find with this outfit is the lack of online payday loans for bad credit in Louisiana. Their in-store loans come in the following form – the loan amount ranges between $100 and $350, while the term is up to 30 days. Regrettably, the APR and the fees accompanying the cash advance are at the higher end of the spectrum. The former starts at 409% (for a one-month loan), and it can go as high as 782% (for a two-week loan). Customers will need to pay $20 per $100 borrowed and an additional $10 origination fee. Louisiana state law prohibits loan rollovers. There is an option to refinance the loan, but only if the customer repays at least a quarter of the principal amount.

Other Features

Louisiana online payday loans aren’t part of this company’s offer, so you’ll need to take a walk to one of their storefronts. Thankfully, the application process can be completed in a flash. You’ll have to wait for around 10 minutes after you’ve filled out the form to get your loan. Flexible Finance donates to local charities, and they organize fundraisers as well. One feature that is worth pointing out is their referral program. They will pay up to $40 for each new customer you bring them.

Money Mart

Money Mart offers instant payday loans online in Louisiana alongside in-store ones in one of their 11 convenient locations. They are a renowned brand with excellent TrustPilot reviews. Money Mart has been licensed by the State of Louisiana Commissioner of Financial Institutions since 2014.

Pros

Cons

Lending Offer Overview

Money Mart is a reliable brand that strives to meet customer needs. They’re always trying to raise the bar and set new industry standards. Louisiana online payday loans are available with this vendor in addition to in-store cash advances. They offer almost identical terms as the rest of their competitors. Regardless of your choice (in-store or online), you’ll be able to borrow between $100 and $300. While the minimum loan term isn’t specified, the loan must be repaid within a month’s time. Their loans are among the more expensive, with the APR ranging from  478% to 782% and a hefty $20 fee per “Benjamin”. Additionally, each loan comes with a $10 origination fee. Louisiana payday loan laws made rollovers illegal, still refinancing a loan remains an option.

Other Features

Providing solutions for people in need is their primary concern. Doing so in a timely manner comes in a close second. You’ll be in and out of their stores before you know it since the application process is that simple. The same applies to “over the internet” applicants. Deposit time for online payday loans in Louisiana from direct lenders is usually one business day. However, in some cases, it can take up to two workdays. Money Mart is another brand that likes supporting local charities. During the COVID-19 pandemic in 2020, they helped local food banks with a generous donation of over $100,000. Lastly, their useful smartphone app is available on both Android and iOS.

LendUp

If you’re ever in need of top payday loans in LA, then look no further. LendUp offers arguably the best and most affordable online cash advances in The Pelican State. The only downside is the lack of storefronts. The State of Louisiana Commissioner of Financial Institutions issued LendUp’s license in 2015.

Pros

Cons

Lending Offer Overview

LendUp has the most reasonably priced online loans in the Bayou State. Regrettably, this company doesn’t provide in-store cash advances. That said, their online payday loans for bad credit in Louisiana are the most affordable. The loan amount is a drawback, though, as it caps out at $250. Repeat customers can increase this amount by up to $100. The APR they offer is unquestionably the lowest in the state, and it goes from 214% (one month) to 458% (two weeks). Their fees range from 16.75% of the borrowed amount to $45, whichever is less. LendUp seems to be the only company that doesn’t charge an origination fee. Predictably, rollovers are not allowed; therefore, loans should be repaid within the term. Clients can refinance a loan, but only if they pay off at least 25% of the principal amount.

Other Features

LendUp is an excellent, modern company that seeks to improve the payday lending scene. Their easy payday loans for Louisiana residents online are confidential and secure, protected by high-tech encryption. Repeat customers who timely repay their loans can collect points, which allow for more favorable rates and increased loan amounts. LendUp’s smartphone app is available to all their clients, helping them manage their accounts and funds on the go. Finally, they offer free financial education and courses to their customers.

Common Myths about Louisiana Payday Loans

Take a look at these common misconceptions about payday loans which should help you in your decision whether you need to borrow short-term cash.

Payday Loans are Used Just in Emergency Situations

While payday loans are indeed advertised as easy short-term emergency solutions, in reality, they’re used quite differently. A mere 16% of borrowers use these loans for their “intended purpose,” while more than two-thirds spend them on everyday expenses such as:

Using these high-cost loans to finance recurring expenses such as these is extremely ineffective and expensive. This kind of borrowing usually leaves people in the infamous cycle of debt.

Banning Payday Loans Would Hurt Consumers as They Would be Left Without Other Options

While payday loans in Louisiana certainly have a role in society, they’re not irreplaceable. It is advantageous to have quick access to cash without too much paperwork. However, other options do exist. In any case, you need to mull over your options carefully before you take the plunge, and if you choose to do so, consider only reputable payday lenders.

FAQ

Are online payday loans legal in Louisiana?

Yes, they have been legal since the 1990s.

How many payday loans can you have in Louisiana?

The maximum number of outstanding payday loans isn’t specified. However, if we take an educated guess, it shouldn’t be possible to have more than three loans simultaneously. Most lenders will be hesitant to issue a loan to someone who they know is unable to repay it.

Conclusion

Despite strict regulations, the payday loans Louisiana has in store still come with arguably exorbitant fees. What’s important to remember is to never borrow from unlicensed lenders since they can charge even higher APRs. All the companies on our list are state-licensed, and you can be sure that they abide by the local laws. Regardless of your needs and preferences, we’re confident that you’ll find the right short-term loan for your needs.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

SpeedyCash

CheckIntoCash

AdvanceAmerica

FlexibleFinanceLoans

MoneyMart

LendUp

StateLaws

PaydayLoanMyth

PaydayLoanInfo

LouisianaStateInfo