Payday Loans in Louisiana (LA),
Get the Best Rates with AdvanceSOS
AdvanceSOS has been operating with success to the delight of many clients. Our lending network offers and approves payday loans for the various reasons people may need extra emergency cash.
We provide short-term loans in Louisiana, no matter what your location. After you meet the listed eligibility criteria, we will transfer the funds within hours. Then, you can repay with your next paycheck. Making the repayment process as flexible and convenient as possible is our primary focus.
We specialize in approving personal loans with convenient and fixed pay rates. We also tailor our products to match the urgent needs of the customers. Note that in some instances, the APR can exceed 400%, depending on the loan size and your financial background.
Advantages Of Taking Out A Payday Loan In Louisiana
The crucial upside of small loans is that they are easy to apply and qualify for. In short, the only limitations are enough income and responsible past lending practices. Also, the application and approval process are fast and entirely online. Soon after, you’ll receive an instant decision, followed by a swift cash deposit into your account.
Moreover, customers can use the money without any restrictions. Funds may cover medical bills, car repairs, celebrations, or short trips. Besides being flexible, payday loans get approved beyond regular banking hours.
Last, your income limits the amount you can borrow, enabling you to pay back loans when due. Plus, the caps on interest rates and fees protect customers from taking on excessive debt.
Reasons To Get A Payday Loan In Louisiana
The reasons to apply for a cash advance are as unique and diverse as each client’s financial situation. Hence, countless factors can cause people to need quick money. Reasons typically involve emergencies such as utilities, medical bills, and unexpected events.
Whether your roof is leaking or you’re buying some baby gear and furniture, we are here to offer you support. Our payday loans online are the safety net you can rely on when faced with an urgent financial need.
Additionally, online loans offer the convenience that traditional banks don’t. With AdvanceSOS, clients can apply from the comfort of their home without the need to travel to an office.
What Will You Need?
Applying for payday loans in Louisiana is reliable and fast. Plus, the approval process is lenient, and you only need to submit proof that you meet the following criteria:
- Be at least 18 years old.
- Be a permanent resident or legal US citizen.
- Have a regular job or a recurring source of income.
- Provide a valid email address and a phone number.
- Hold an active savings/checking account.
The requirements above are mandatory for each applicant. If we need more details to sign the agreement, we may ask for extra information. We don’t exclude the possibility of soft credit checks, either.
How Much Can You Borrow?
Though there’s no bottom threshold, advance payday loans in Louisiana must abide by the upper limit of $350. The amounts listed below are what our clients tend to apply for:
- 100 dollar loan
- 200 dollar loan
- 300 dollar loan
- 500 dollar loan
What we approve will depend on your eligibility and ability to service debt. Those who meet the listed criteria stand a real chance of a fast approval. We operate in almost any area code that serves the state of Louisiana, so feel free to apply right away.
When Will You Receive Your Funds?
We want our appreciated customers to have access to financial support when they need it quickly. Often, minutes can make the difference. Hence, most AdvanceSOS clients receive the requested funds within hours.
Once approved, the transfer can reach your bank account within hours. With our instant cash loans, transactions are always fast and efficient. Yet, there may be delays during non-working days and holidays. Here, you will probably have the deposit available the next business day. Quick cash also depends on the hour you got approved, so it helps if you send in your loan request earlier.
APR And Fee
The average APR of payday loans in Louisiana is about 391%. Still, this percentage is not fixed, since it depends on the loan size and the repayment term. Often, it can exceed 400% if the amount you borrow is smaller.
The limit of $350 cannot be exceeded for single payday loans repaid in one lump sum. Applicable fees cap at 16.75% of the amount advanced. The lender also has the right to charge a $10 documentation fee to each applicant. Hence, the highest amount you can pay in finance charges for a $250 payday loan is $45.
Regulations Surrounding Payday Loans In Louisiana
To ensure the protection of its residents from scams, the state of Louisiana has introduced some strict rules. AdvanceSOS follows the applicable laws and offers a reasonable system of fees and charges.
The maximum loan amount is $350. The state doesn’t define the minimum loan amount. Single payday loans in Louisiana must get settled with your next paycheck within 30 days. Moreover, regulations allow only one loan at a given time.
There’s no cooling-off period specified between any two consecutive products. The state also prohibits rollovers and criminal actions.
Our primary target is to make our loan application process as accessible and as simple as possible. We strive to help clients cut through the stress and potential turmoil often faced during times of economic hardship.
Amanda is a senior writer at AdvanceSOS. She has more than six years of journalism experience, mostly in the finance sector. She graduated with a Bachelor’s Degree from Drew University.