Online Payday Loans, Louisiana: Everything You Should Know

Compare the top 3 online payday loans in Louisiana along with the laws, application process and requirements to get approved.

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Are payday loans available in Louisiana?

If you’re located in New Orleans, Baton Rouge or Lafayette, yes, payday loans are available to you. Payday loans are an option when you’re in need of urgent cash fast. Loans typically range from $100 to $350 and should be used for short term emergency expenses only.  Payday loans are typically used to bridge the gap between pay days.

In this article, we discuss when you should use a payday loan, what you need to apply, and how to ensure that your payday loan lender is legitimate. t

Let’s jump right in.

Table of Contents

    Payday loan requirements in Louisiana

    Before you apply for a payday loan, it’s important to know if you’ll qualify before hand. Below are the necessary conditions you’ll have to meet in order to be eligible for a loan. It’s important to know that not everyone will be able to meet all these conditions.

    • US resident
    • 18 years of age or older
    • Legal ID
    • Valid phone number and email address
    • Valid SSN or ITN number
    • Proof of income of $1,000 per month or more – it can be employment, self-employment, retirement, disability, or other income sources.  
    • One-month bank statement 
    • Proof of an active checking account where the payday loan can be deposited to

    Payday loan terms, debt limits and collection limits in Louisiana

    Payday loan laws in Louisiana are designed to be straight forward and protect consumers from predatory lending practices. In order to ensure you are borrowing from a legit lender here are the laws and regulations that they need to follow:

    • Max APR: 697.41% on a 14-day loan of $100 or $17 per $100 borrowed.
    • Maximum Loan Amount: $350
    • Maximum Loan Term: 30 days
    • Loan Rollovers: 3 rollovers allowed if 25% of the principal loan has been repaid.
    • Cooling-off period: None.
    • Financing fees: 16.75% of the advanced amount capped at $45, plus one $10 documentation fee. Once in default, 36% interest for the first year and 18% for the second year. One non-sufficient funds (NSF) fee.

    How to get an online payday loan in Louisiana

    With most lenders in Louisiana, you can apply for a payday loan online. The process involves submitting an application form and formal documents like bank statements to prove income. If you have all your documents ready the typical online application should take about 5 minutes.

    Here are the 3 best lenders in Louisiana offering online payday loans:

    ACE Cash ExpressPheabsSpeedyCash
    Est. APR
    391.07 – 630%
    91 – 500%
    Est. APR
    214% – 460%
    Est. Loan Term
    14–30 days
    Est. Loan Term
    1 – 60 months
    Est. Loan Term
    14–30 days
    Loan amount
    $100 – $350
    Loan amount
    $100 – $35,000
    Loan amount
    $100 – $350
    Min. Credit Score
    Min. Credit Score
    Min. Credit Score
    Min. income
    $1,200 per month*
    Min. income
    $1,200 per month*
    Min. income
    $1,200 per month*

    ace cash express logo

    ACE Cash Express

    ACE Cash Express is one of the places to check out if you need a quick cash advance. The lender has been in business since 1968 and operates in 22 states including Louisiana and have 850 locations across the US. They offer payday loans as well as installment and car title loans.

    Why you should consider a payday loan from ACE Cash Express

    • Best feature: Payday loans with no credit check and no collateral needed.
    • Approval time: 1-business day approval.
    • Funds available in: 24-72 hours after approval.
    • Cancellation period: 72-hour period to cancel your loan application.
    • Number of stores in Louisiana: 20 including in New Orleans, Baton Rouge, Shreveport and Lafayette.
    • Online application: available
    • 24/7 open: online
    • Are they legit: Yes, ACE Cash Express is a legit lender that is been in operation since the 60’s. They have served over a million clients to date.
    speedy cash logo

    Speedy Cash

    With over 200 outlets across the U.S, SpeedyCash is another place to look for a cash advance payday loan. 

    Compared to Ace Cash Express, Speedycash typically has a lower APR. The APR ranges from 214% – 460%, depending on the loan term, 14 -30 days.   

    Why you should consider a payday loan from Speedy Cash

    • Best feature: Instant funding for people with bad credit.
    • Approval time: 1-business day approval.
    • Funds available in: Within 1 hour.
    • Cancellation period: Unspecified.
    • Number of stores in Louisiana: 5 including in New Orleans, Baton Rouge and Meridian.
    • Online application: available
    • 24/7 open: online
    • Are they legit: Yes, Speedy Cash is a legit lender that is licensed to operated across the US.
    pheabs logo


    Pheabs is digital lending platform that forwards your applicaiton to a lender in its network that is likely to approve you for a loan. You can apply for a payday loan as well as personal, installment and car loans.

    By matching you with a potential lender, Pheabs makes it possible to borrow higher amounts than the standard $350 payday loan in Louisiana if you’re approved.

    Why you should consider a payday loan from Pheabs

    • Best feature: Bad credit loans approved for up to $35,000.
    • Approval time: 5 minutes estimated. Their platform’s mission is to simplify the loan process to make it quicker than visiting a store in person.
    • Funds available in: Within 24 hours.
    • Cancellation period: Unspecified.
    • Number of stores in Louisiana: 0, they are online only.
    • Online application: Available
    • 24/7 open: Online
    • Are they legit: Yes, Pheabs is a legit website.

    The best alternative to payday loans in Louisiana

    Although payday loans can help cover emergency expenses, expect to pay high-interest rates and fees.
    An excellent alternative to high-interest payday loans is Instacash by MoneyLion.

    InstaCash is a cash advance app available in Louisiana for people looking to borrowers cash. It requires no credit checks, has no monthly fees, and zero interest. You can get up to $250, payable on your next payday.

    With a MoneyLion loan you only pay back what you borrow. Period.

    Payday loan requirements in Louisiana

    Louisiana payday loans are a great way to get cash when you’re in an emergency. If you’re in a pinch and need quick cash, an online payday loan can help.

    What does it take to get a payday loan in Louisiana? Here’s everything you’ll need to get approved for a payday loan in Louisiana:

    • Age: Must be 18 years old or older.
    • Bank account: Must have an open bank account that accepts electronic deposits (most do these days)
    • Employed: Must be employed with a steady income (or else able to demonstrate income without being gainfully employed)
    • Proof of income: Uou can use two documents: bank statements showing regular deposits into your bank account or pay stubs from your employer showing how much money was deposited into your account over the last two months.
    • Valid ID: Proof of identification — a driver’s license or passport is fine, as long as it shows your current address (which might require another document, like a utility bill). If you don’t have access to either of those documents, use your birth certificate instead.
    • Valid SSN or ITN number: Most online applications will ask for either your full SSN or the last 4 digits of your SSN number. This is mainly for identity verification purposes but be sure you’re only applying to legit sites as this number is very sensitive and should be kept private.

    Can you get instant funding in Louisiana?

    Yes, lenders like SpeedyCash and platforms like Pheabs offer instant funding to eligible borrowers. This option is available to borrowers with a debit card. Borrowers who opt for a bank account payment have a waiting time of up to 24 hours – on business days.

    What happens if I fail to repay a payday loan in Louisiana?

    If you fail to repay your payday loan, the lender can hire a debt collector to pursue you to clear what you owe. You can expect to get calls from the collectors which can lead to legal action on behalf of the lender. You cannot be charged with a crime for defaulting on a payday loan in Louisiana, but if a lender decides to sue you in court, you might have to pay court fees plus attorney fees.

    If you are unable to repay your loan, some lenders will allow you to refinance your loan if at least 25% of the principal (original amount borrowed) has been paid back. That could be an option for you instead of defaulting however it could lead to a cycle of debt and difficult to get out of.

    Another option is to ask to enter an extended payment plan. According to ACE Cash Express’ site, you can request this once in a 12 month period but it must be requested before payment is due.

    Wrapping up

    A payday loan can be hard to resist in times of an emergency and you are in need of quick cash, but it’s not always the best option. Regularly using payday loans to cover expenses like food and groceries can leave you trapped in a debt cycle.

    Before you take out a payday loan, decide if it’s right for you. You might find other borrowing options more suitable than taking on a payday loan. With alternative options like credit cards, cash advances or borrowing from friends or family you don’t have to pay high interest rates.

    If you are in an emergency and need a payday loan we suggest you apply with a legit lender like ACE Cash, Speedy Cash or a plaform like Pheabs.

    Looking for an online payday loan in Texas? Read on where to get the best payday loan in Texas.

    Before you take out a short-term loan Payday loans, installment loans and auto title loans come with high rates and fees which can trap you in a cycle of debt. Borrowers may find themselves taking out a second or third loan because they couldn’t pay back the first one on time.

    A payday loan should be used in emergency cases and as a last resort.

    Loan Reviews

    Online personal loans for Americans with good and excellent credit.

    Best Egg is an online lending platform that helps people who have good to excellent credit get fast loans up to $50,000. Watch out for the origination fee and if you have bad credit you're better off applying elsewhere. 

    Debt consolidation loans for people with bad credit.

    Have bad credit and in an emergency? Get a same-day loan up to $2,000 with MoneyKey. MoneyKey is a legit lender with an easy online application, quick approval and fast funding.

    Red Arrow Loans provides fast funding for loans up to $5,000 and terms up to 12 months. They are a legit lender but watch out for fees and marketing from 3rd party companies.