Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
The cost of a payday loan in New Orleans is regulated by Louisiana state law. Lenders can charge fees up to 16.75% of the face amount of the check, plus a $10 documentation fee. Because these are short-term cash advances designed to be repaid in a few weeks, the Annual Percentage Rate (APR) is significantly higher than traditional bank loans. Borrowers should only use payday loans for temporary financial emergencies and carefully read all terms provided by their matched lender before signing the loan agreement.
Annual Percentage Rate (APR)
390% to 780% (varies by lender and term)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| Amount | Term | Estimated APR | Estimated Fees | Total Repayment |
| $100 | 14 Days | 450% | $26.75 | $126.75 |
| $300 | 14 Days | 415% | $60.25 | $360.25 |
| $500 | 14 Days | 390% | $93.75 | $593.75 |
The chart above is a representative example only and does not constitute a loan offer. NOLA Cash Advance does not set interest rates, loan terms, or fees. Your actual APR and repayment terms will be determined solely by your lender based on your creditworthiness, income, and Louisiana state regulations. Lenders are required by federal law to provide a full disclosure of all terms and fees before you sign any loan agreement. Please read your loan agreement carefully.
State-Specific Information — Louisiana
Maximum Loan Amount: Up to $700
Rate Cap: No strict APR cap in Louisiana; fees are capped at 16.75% of the check amount plus a $10 documentation fee, resulting in average APRs of 390% to 780%.
Regulations: In Louisiana, the maximum payday loan amount is $700. The loan term cannot exceed 60 days. Lenders can charge fees up to 16.75% of the face amount of the check, plus a $10 documentation fee. Rollovers are highly restricted and borrowers should carefully manage their repayment schedules.
Licensing: Lenders must be licensed by the Louisiana Office of Financial Institutions to operate in the state.