What is the Louisianna Deferred Presentment and Small Act Loan?

In the state of Louisiana, there is a very important law that protects the borrowers from predatory online cash advance lending. Online cash advances have been known to help out people who are unable to take out cash from any other lending source. Whether you filed for bankruptcy years ago or defaulted on some of your credit card bills last year when you were unemployed, you might find it incredibly difficult to find a lender who will let you take out a loan. If you are only looking for a short term loan for a small amount of cash, a cash advance is your best move. For those borrowers who live in Louisiana, the Louisiana Deferred Presentment and Small Loan Act, helps to protect the borrower from any unfair lending practices. The cash advance and payday lending industry is a profitable one which makes contributitions every year to keep them going strong. They do offer a very valuable service yet some lenders do practice unfair lending which is why you must make it your responsibility to find a lender who is known for their better business practices. Some states protect the industry of payday lending rather than the borrower. But this is not the case for Louisiana cash advances. Under the Louisiana Deferred Presentment and Small Act Loan, borrowers are protected by these common state payday lending laws:

You cannot take out a loan for more than $350
The maximum interest that you can be charged on a $350 loan is $70.
$20 is charged in interest for every $100 that is borrowed
Short term loans must be paid back withing 60 days.

All Louisiana residents who take out online cash advances are protected under the Louisiana Deferred Presentment and Small Loan Act.

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We will be able to give you access of up to $500 and your credit does not mean a thing to us. You will receive instant approval with an active bank account, a steady job and proof of your age. You must be 18 or older to qualify. Learn more about payday loans on our site before applying.

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