Online Payday Loans in Louisiana
We've all been there on occasion, where some unforeseen expense arises be it vet expenses, utility shutoff notices, or maybe a bill that we missed. In these moments, you should apply for a cash advance loan in Louisiana.
The application process for a payday advance loan is quick and effortless. Nevertheless, you do need to satisfy certain criteria to ensure you're approved.
What Specifically is a Payday Advance Loan And Why Is It Needed?
A payday loan is when an individual borrows a small amount of cash on a short-term basis that they're obligated to pay back with their next paycheck. This kind of loan requires no collateral, which is why it's thought of as an unsecured loan.
Having access to a payday advance loan will help cover unforeseen expenses that occur like car fees, health fees, eviction notices, unpaid utility costs, and much more.
What Are The Requirements For Cash Advance Loans in the State of Louisiana?
To be granted a cash advance loan in Louisiana there are some criteria the borrower needs to satisfy to qualify, such as:
- Be an adult of 18 or over
- Have the ability to provide an SSN
- Show proof of residence within Louisiana
- Show proof of a stable income of $1,000 per month or more
- Provide an email address and phone number
- You may not be bankrupt or in debt
The failure to abide by the requirements above will result in an automatic denial of your loan request. Always check that you have the right documents on hand when requesting a loan.
Cash Advance Loan Rules and Regulations in the State of Louisiana
With payday advance loans come certain rules and regulations dependent on the city. We've detailed a couple of these, relevant to the state of Louisiana:
- The largest loan amount is $500 for a single repayment and $1,000 for multiple repayments
- The annual percentage rate is 304%
- The state of Louisiana does not agree to rollovers therefore the loans need to be repaid within the contracted time frame
There are distinct time frames for one-time payment loans and multiple installment loans.
- The borrower has seven days to remit payment for a single-payment loan
- For multiple installment loans, the borrower has 60 days to remit payment
- The borrower will receive no longer than 31 days to repay a single-payment loan
- 90 days will be allotted to the borrower for payback on a multiple installment loan
Do Cash Advance Loan Lenders Check Credit?
Lenders will complete a credit inquiry, but it's not the standard credit inquiry you may be familiar with. They will run what's called a soft credit pull which reviews your general information along with your entire credit history.
The soft credit pull will not affect your credit, while alternatively, a hard credit inquiry will. Although, this must have your permission and is typically only used for rental applications, credit cards, car loans, and more.
Can I Receive a Cash Advance Loan with Dismal Credit in Louisiana?
If you're concerned due to the fact that you have dismal credit; there's no need! You can still be eligible for a payday advance loan with bad credit or no credit at all, in Louisiana. As long as you have proof that you can repay the loan, lenders generally aren't concerned with your credit rating.
Whether you request a loan online or at a cash advance lender storefront near you, never go without your proof of regular income in addition to other documents showing that you're able to repay the loan. With more evidence, you raise the chances of approval.
When Will The Money Appear In My Bank Account?
On average, the majority of borrowers can expect that their money will appear in their bank account the following business day. Although, this relies upon a few things such as:
- When you apply
- Who your bank is
If you apply prior to 10:30 AM when you are going for a same-day cash advance loan in Louisiana, it will strengthen the likelihood that you receive your money on the same day you apply. Of course, only if you're approved.
Keep in mind that banks, as well as a lot of other businesses, close during the weekends, and on holidays. So, if you request a loan the day before a holiday, or before the weekend, there's the likelihood that your payment will be delayed.
Who Do You Bank With?
Another thing you'll want to pay attention to is who you bank with. Banks have their own procedures when it comes to releasing funds. Some may be okay with releasing them the same day whereas others will have a 3 to 5 day holding period.
One thing you can do is tell your banker that you are requesting a payday advance loan so that they might make an exception on when to release the funds to your bank account. If they won't offer an exception, you can ask them what their policy is so that you know for the future.
Payday Advance Application Process In the State of Louisiana
The cash advance loan application process in Louisiana is effortless. It doesn't depend on if you have no credit or even poor credit, you can still get approval. You don't need to go somewhere if you want to apply through us online. Alternatively, you can find your closest lender's storefront.
Regardless, whatever you decide, all you need is your basic information like your email address, phone number, social security number, etc.
Should you want to visit your local lender at their storefront, be sure you have your government ID or passport to prove your identity. They might also require verification of address to show you live in Louisiana, as well as verification of income.
Think About Working With Us
We are an online service that offers payday advance loan applications online in the State of Louisiana. We are partnering with hundreds of lenders who provide services online. Plan to receive your cash by the next business day.
On the other hand, you can always search for the nearest cash advance loan storefront and apply there. This may strengthen the chances that you get your deposit on the same business day provided that you apply before 10:30 AM.
To locate a payday loan storefront close to you, find your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.