Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
Payday loans in Louisiana are regulated under the Deferred Presentment Transaction Law. Lenders are permitted to charge a fee of up to $20 for every $100 borrowed for loans up to $300. Additionally, a $10 documentation fee is standard for these transactions. For loans ranging from $301 to $350, the maximum fee is capped at $55 plus the $10 documentation fee. These rates ensure that lenders can offer short-term credit while staying within state legal boundaries. We encourage all Lafayette borrowers to use these loans only for short-term financial needs and not as a long-term solution.
Annual Percentage Rate (APR)
391% - 780% (Varies by lender)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $100 | 14 days | 400% (Approx) | $30.00 | $130.00 |
| $200 | 14 days | 391% (Approx) | $50.00 | $250.00 |
| $300 | 30 days | 283% (Approx) | $70.00 | $370.00 |
| $350 | 30 days | 222% (Approx) | $65.00 | $415.00 |
This table is a representative example only. Actual APR and fees depend on the lender you are matched with, your state's regulations, and the specific terms of your loan agreement. Louisiana law limits the maximum loan amount to $350 plus applicable fees.
State-Specific Information — Louisiana
Maximum Loan Amount: $350
Rate Cap: Approximately 391% - 780% depending on loan size and term.
Regulations: Louisiana Revised Statutes 9:3578.1 et seq. governs deferred presentment transactions in the state.
Licensing: Lenders in Louisiana must be licensed by the Louisiana Office of Financial Institutions (OFI).