South · Allowed
Payday loans in Louisiana
Storefront payday lending is permitted in Louisiana. State law caps what lenders can charge — the limits below are the legal ceiling, and honest lenders stay under it.
The limits below are the legal ceiling — any offer above them is being made outside the law.
The rules behind the numbers
Deferred presentment small loans are high-cost credit products intended for short-term financial needs only.
In practice: borrow $300 for a standard term and the finance charge is $60.25 — $360.25 repaid at the end, about 523% APR. Every compliant lender in Louisiana has to fit inside that schedule.
Statute: La. R.S. 9:3578.1 et seq.
Regulator: Louisiana Office of Financial Institutions · www.ofi.la.gov
Questions people ask here
How much can a payday loan cost in Louisiana?
State law caps fees at 16.75% of check amount ($16.75 per $100) + $10 documentation fee. On a typical $300 loan that works out to about $60.25 in finance charges — repaying $360.25 in total. A lender charging more than the cap is operating illegally.
What happens if I can't repay on time in Louisiana?
This state's rules on rolling the loan over: forbidden. If you can't pay, ask the lender for an extended payment plan before you renew — and call the state regulator if the plan is refused.
Are online payday lenders legal in Louisiana?
Only lenders licensed in Louisiana may make loans to residents at these terms — the license, not the website, decides what's legal. Out-of-state lenders offering terms above the state cap are operating outside the law.
Who regulates payday lenders in Louisiana?
Complaints about a licensed lender go to the Louisiana Office of Financial Institutions (www.ofi.la.gov) — keep the loan agreement and every fee disclosure you were given.
234 storefront lender locations listed statewide in the 2022-02-20 public directory snapshot — each city guide carries its local list.