Best Loans In Louisiana, Payday, Auto Title Laws 2020 - Elite Personal Finance
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Best Loans In Louisiana, Payday, Auto Title Laws 2020

EPF Last Update: January 21, 2020
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According to the Louisiana Consumer Credit Law, installment loans cannot exceed $35,000.

Maximum finance charges are as follows:

  • 36% per year on the first $1,400
  • 27% per year on balances > $1,400 but ≤ $4,000
  • 24% per year on balances > $4,000 but ≤ $7,000
  • 21% per year on balances > $7,000

Licensed lenders can also charge:

  • A $50 loan origination fee
  • A $20 documentation fee
  • A $5 credit service charge for balances ≤ $75 or a $7.50 credit service charge for balances > $75
  • A delinquency charge – after the loan is more than 10 days past due – of 5% or $10, whichever is greater
  • A loan deferral charge of no more than $25

Best Bad Credit Loans In Louisiana

Amount

$500 – $5,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Licensed in Louisiana

Not a direct lender

Amount

$100 - $2,500

Min Credit Score

0

APR

Vary by State

Approval

< 1 Day

Terms

1 - 36 Months

Licensed in Louisiana

Yes

Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Licensed in Louisiana

Yes

Amount

$100 – $1,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

7 – 30 Days

Licensed in Louisiana

Yes

Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Louisiana

Not a direct lender

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Louisiana

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Louisiana

Yes

Amount

$1,000 – $100,000

Min Credit Score

500

APR

5.34% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Louisiana

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

< 1 Day

Terms

12 - 120 months

Licensed in Louisiana

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Louisiana

Not a direct lender

Lender:Min Credit Score:Loan Amount:APR:Licensed in Louisiana:
BadCreditLoans0$500 – $5,0005.99% – 35.99%Not a direct lender
CashUSA0$500 – $5,0005.99% – 35.99%Not a direct lender
Opploans0$1,000 – $4,00099% – 199%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender

For more information on bad credit loans , see our complete guide.

Best Personal Loans for Good Credit In Louisiana

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Louisiana

Yes

Amount

$2,000 - $40,000

Min Credit Score

640

APR

6.95% - 35.99%

Approval

1 - 3 Days

Terms

36 - 60 months

Licensed in Louisiana

Yes

Amount

$1,000 – $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Louisiana

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Louisiana

Yes

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Louisiana

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Louisiana

Yes

Amount

$1,000 – $50,000

Min Credit Score

600

APR

6.98% – 35.89%

Approval

< 1 Day

Terms

3 - 5 Years

Licensed in Louisiana

Yes

Amount

$5,000 – $35,000

Min Credit Score

640

APR

5.99% – 24.99%

Approval

1 – 7 Days

Terms

2 -5 Years

Licensed in Louisiana

Yes

Amount

$2,500-$35,000

Min Credit Score

660

APR

6.99-24.99%

Approval

1 Day

Terms

24 - 84 Months

Licensed in Louisiana

Yes

Amount

$7,500 - $40,000

Min Credit Score

680

APR

6 - 15%

Approval

1 - 7 Days

Terms

36 - 84 months

Licensed in Louisiana

Yes

Lender:Min Credit Score:Loan Amount:APR:Licensed in Louisiana:
Prosper640$2,000 – $40,0006.95% – 35.99%Yes
Payoff640$5,000 – $35,0005.99% – 24.99%Yes
PersonalLoans580$1,000 – $35,0005.99% – 35.99%Not a direct lender
LendingTree500$1,000 – $35,0003.99% – 35.99%Yes

For a complete list of options, see our full list of recommended lenders. Also check out SuperMoney. It’s a great place to search for a loan.

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Payday Loans in Louisiana

Maximum Loan Amount: $350

Minimum Loan Term: Not specified

Maximum Loan Term: 30 days

Maximum Fee: 16.75%

Maximum APR: Averages nearly 400%

Rollovers: Prohibited

Loan Limit: Not specified

Payday loans are legal in Louisiana.

However, the Louisiana Deferred Presentment and Small Loan Act requires licensed lenders to cap loan amounts at $350. Finance charges are capped at 16.75%, and if a borrower defaults, licensed lenders can levy a maximum recurring APR of 36% for up to one year. If the loan is still unpaid after one year, licensed lenders can levy up to 18% going forward.

As well, rollovers are prohibited and a $10 documentation fee can apply.

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