Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Louisiana, payday loans are regulated by the Louisiana Deferred Presentment and Small Loan Act. The maximum loan amount for a payday loan in Bossier City is $350. Lenders are permitted to charge a documentation fee of up to $10, plus a finance charge not to exceed $20 per $100 borrowed (up to $300), and $16.67 per $100 for amounts above $300. Because these are short-term loans, the Annual Percentage Rate (APR) is significantly higher than traditional long-term bank loans. We urge all Bossier City residents to borrow responsibly and use these funds only for immediate financial emergencies.
Annual Percentage Rate (APR)
391% - 782% APR
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $100.00 | 14 Days | 782.14% | $30.00 | $130.00 |
| $200.00 | 14 Days | 651.79% | $50.00 | $250.00 |
| $300.00 | 14 Days | 608.33% | $70.00 | $370.00 |
| $350.00 | 30 Days | 268.00% | $78.33 | $428.33 |
Representative Example: A $300 loan for 14 days with a $60 finance charge and a $10 doc fee would result in a total repayment of $370 and an APR of 608.33%. Actual rates and fees depend on the lender and your specific loan terms.
State-Specific Information — Louisiana
Maximum Loan Amount: $350
Rate Cap: Approximately 782% (calculated on a 14-day $100 loan with max fees)
Regulations: Louisiana Deferred Presentment and Small Loan Act; LAC 10:XI.701 et seq.
Licensing: All lenders must be licensed by the Louisiana Office of Financial Institutions (OFI).