Louisiana at a glance
- Personal loansAllowed Tiered cap
- Installment loansAllowed Tiered cap
- Emergency loansAllowed Tiered cap
- Payday loansAllowed Fee cap
- Title loansAllowed Tiered cap
Loan options in Louisiana
Every loan type we cover is listed, including the ones Louisiana law does not allow, so you can see why and what else can work.
- Personal loansAllowedA lump sum you repay in fixed monthly payments. See what your state allows and what a loan can cost.
- Installment loansAllowedFixed payments over months, not weeks. See your state's rate limits and a worked cost example.
- Emergency loansAllowedMoney for an urgent bill, usually a smaller installment loan. Check your state's limits before you borrow.
- Payday loansAllowedA short loan usually due in one payment on your next payday. Allowed in fewer states, so read the fee limits first.
- Title loansAllowedA loan secured by your car title. Allowed in fewer states, and your car is at risk if you cannot repay.
Other ways to borrow
- Credit union payday alternative loans: small loans from federal credit unions with an APR capped at 28% under NCUA rules. (12 CFR 701.21)
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
- Payment plans: many utilities, hospitals and lenders offer hardship plans if you ask before you miss a payment.
What a loan can cost in Louisiana
Worked examples at an illustrative rate, never above Louisiana's rate cap for that loan amount where the law sets one. They are examples, not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $48.74
- Finance charge
- $84.88
- Total of payments
- $584.88
Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $97.48
- Finance charge
- $169.76
- Total of payments
- $1,169.76
Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $3,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $292.45
- Finance charge
- $509.40
- Total of payments
- $3,509.40
Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in Louisiana
Free and low-cost places to turn in Louisiana, each linked to its official source and dated when we last checked it.
Lending regulator and complaints
Louisiana Office of Financial Institutions (OFI) licenses lenders in Louisiana. Check a lender's license here, and file a complaint if something goes wrong.
Check a lender's license File a complaint
ofi.la.gov Checked September 23, 2026
Attorney general consumer protection
The attorney general's consumer protection office takes complaints about scams, unfair debt collection and other business practices.
ag.louisiana.gov Checked September 23, 2026
211
Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.
211la.org Checked September 23, 2026
Legal aid
Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.
slls.org Checked September 23, 2026
Nonprofit credit counseling
Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.
nfcc.org Checked September 23, 2026
Benefits portal
The official site for checking whether you qualify for food, cash or other benefits in Louisiana, and for signing up.
dcfs.louisiana.gov Checked September 23, 2026
Federal complaints
Submit a complaint about any lender to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Louisiana.
The rules lenders follow in Louisiana
These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.
Allowed in Louisiana: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4][5][6] | Allowed | Tiered cap | Not set by statute | Not set by statute | Licensed Lender license | La. R.S. 9:3510 et seq.; rate tiers at R.S. 9:3519; loan broker licensing at R.S. 9:3572.1 et seq.; 2026 Regular Session HB 545 and HB... |
| Title loans[7][6] | Allowed | Tiered cap | Not set by statute | At least 2 months | Licensed Lender license | La. R.S. 9:3578 et seq.; title pawns separately regulated under Louisiana pawnbroker law |
| Payday loans[8][9] | Allowed | Fee cap | Up to $740 | Not set by statute | Deferred Presentment and Small Loan lender license, issued by OFI under the Louisiana... | La. R.S. 9:3578.1 et seq.; fee cap and post-maturity rate at R.S. 9:3578.4, as amended by Acts 2025, No. 510, effective August 1, 2025 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Rate, fee and license rules in Louisiana
Installment and personal loans
- Rate cap
- Tiered maximum loan finance charge under the Louisiana Consumer Credit Law: 36% per year on the unpaid principal up to $1,400; 27% per year on the portion from $1,400 to $4,000; 24% per year on the portion from $4,000 to $7,000; 21% per year on the portion above $7,000. Minimum finance charge of $15 (advances up to $200) or $25 (advances over $200) in lieu of other finance charges.
- Fees
- Minimum loan finance charge $15 or $25 depending on advance amount; origination fee up to $75 on a consumer loan or revolving loan account per 2026 HB 545 (Act, 2026 Regular Session).
- License
- Licensed Lender license (Louisiana Consumer Credit Law, La. R.S. 9:3510 et seq.), issued by the Office of Financial Institutions (OFI); separately, a Loan Broker license (R.S. 9:3572.1 et seq.) is required to broker consumer loans for compensation, which OFI and industry counsel treat as also covering lead-generation activity that solicits or offers to find lenders for consumer loans.
Title loans
- License
- Licensed Lender license (Consumer Credit Law) for title loans structured as consumer loans, issued by OFI; a separate pawnbroker license applies if structured as a title pawn.
Payday loans
- Rate cap
- No separate APR cap stated in percentage terms in sources reviewed; regulated by a flat per-transaction fee cap instead. If unpaid at maturity, licensee may charge 36% per annum for up to one year, then 18% per annum thereafter.
- Fees
- Fee may not exceed 16.75% of the face amount of the check (R.S. 9:3578.4). Acts 2025, No. 510 removed the former $45 per-transaction fee ceiling. If unpaid at maturity: 36% per annum for up to one year, then 18% per annum. No other fees beyond those the Act allows (plus actual returned-check fee reimbursement once per check).
- License
- Deferred Presentment and Small Loan lender license, issued by OFI under the Louisiana Deferred Presentment and Small Loan Act.
Money snapshot for Louisiana
Guides for Louisiana borrowers
Check your options in Louisiana
Louisiana questions
Does Louisiana law allow payday loans?
Louisiana law allows payday loans. State law caps the fee rather than the APR. Source: La. R.S. 9:3578.1 et seq.; fee cap and post-maturity rate at R.S. 9:3578.4, as amended by Acts 2025, No. 510, effective August 1, 2025.
What is the most a lender can charge in Louisiana?
By loan type in Louisiana: Installment and personal loans: Tiered cap. Title loans: Tiered cap. Payday loans: Fee cap.
Where can I file a complaint about a lender in Louisiana?
You can file a complaint with Louisiana Office of Financial Institutions (OFI), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Louisiana on this page.
How do I check a lender's license in Louisiana?
Louisiana Office of Financial Institutions (OFI) licenses lenders in Louisiana. Use the license link under Resources in Louisiana on this page to check a lender before you share your information.
Is there free help paying bills in Louisiana?
Yes. Resources in Louisiana on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Can I get a loan in Louisiana with a 500 credit score?
Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.
Nearby states
- MississippiAllowed See the rules
- ArkansasAllowed 17% APR
- AlabamaAllowed 36% APR (top tier)
- TexasAllowed Tiered cap
- TennesseeAllowed 24% APR
Sources
- ofi.la.gov. La. R.S. 9:3510 et seq.. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/louisiana/revised-statutes/title-9/rs-9-3519. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/louisiana/revised-statutes/title-9/rs-9-3572-2. Retrieved September 23, 2026.
- legis.la.gov/legis/ViewDocument.aspx. Retrieved September 23, 2026.
- legis.la.gov/legis/ViewDocument.aspx. Retrieved September 23, 2026.
- ofi.la.gov. Louisiana Office of Financial Institutions (OFI). Retrieved September 23, 2026.
- legis.la.gov. La. R.S. 9:3578 et seq.. Retrieved September 23, 2026.
- ofi.la.gov. La. R.S. 9:3578.1 et seq.. Retrieved September 23, 2026.
- ofi.la.gov. Louisiana Office of Financial Institutions (OFI). Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Louisiana. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
Illustrative range for installment loans in Louisiana: APRs from 5.99% to 35.99%, where the state APR cap is 36% at most and lower on larger loans. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.
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- Questions about a lender licensed in Louisiana? Contact the Louisiana Office of Financial Institutions (OFI) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.