Payday Loans in Monroe, LA

Did you end up messing up your financial budgeting this month? Are you a few 100 dollars short on unimportant payment? That’s a tricky situation but at least you’re not alone. About 70% of the American population falls short on cash every month. One way to bridge a short-term financial problem is through accessing quick cash with a loan. Luckily, we have the most convenient way to get rapid cash: a payday loan!

The reason why payday loans are so popular is because they have a very quick processing time. This is because payday loans are borrowed against your paycheck (you don’t need a house, car, or any other collateral). The first step is filling out an online application. Once accepted, the lender can wire you money as soon as the same day. Every loan is composed of two different parts: principal and interest. These are no different. You have to pay the fees or the interest on your loan and also pay back what you borrowed in a few weeks. 

Monroe is the eighth largest city in the state of Louisiana with a population of 47,702 people according to the 2020 census. It is known as the place to eat, discover and shop in the Northeast of Louisiana. It has over 150 locally owned small businesses, mostly restaurants, shopping places, fun attractions and experiences. It is easily one of the tourists’ favorite spots.

There are a number of famous tourist attractions in Monroe. This includes the Biedenharn Museum & Gardens, the Bible Museum, and Coke Museum. One of the selling factors of  Monroe are the high-flying adventures that can be found at the Military and Chennault Aviation museum. This was also the starting point of Delta Airlines. Additionally, the place is also full of natural beauty. 

Monroe has a stable economy but it is predicted to grow slower than the rest of the country over the next few years. The unemployment rate of the city is higher than the U.S average. The biggest industries of Monroe include manufacturing, banking, healthcare and farm-related companies. Additionally, there are some universities located in Monroe as well that feed into the economy!

With a slower than average economy and a lot of college students, it is no surprise that payday loans are popular in Monroe. Nationally, the payday loan market continues to grow in popularity. 

Here’s a few reasons why these loans continue to gain prominence:

  • payday loans are rapid to get and do not require extensive underwriting
  • they can help you out of a temporary financial crisis
  • they help you avoid taking a loan from a relative or a friend
  • They can encourage budgeting and better financial habits in the future

We understand that this can seem a little scary at first. Although, you have nothing to worry about. We will break this down for you quickly and answer all of your questions! 

Payday Loan Regulations in Monroe, LA:

One thing that we always recommend, no matter what you’re dealing with, is having your facts straight and knowing the laws and regulations. 

Payday loans are legal in the state of Monroe, LA. The maximum interest rate is 31%, and the minimum loan term is 30 days! You should always take a loan from a verified lender with legal certification and read their terms and policies!

Verifying all of this information can seem like a hassle sometimes, but it is very important to understand the company you are dealing with before agreeing to terms on your loan. 


How often can I take out payday loans?

You can take a payday loan as often as you want if you don’t have more than two unpaid loans outstanding! It’s always essential to pay your loans on time to prevent a bigger hassle in the future. If you have to keep rolling over your loan, your interest costs will keep increasing. That is not a good situation. 

To be on the safe side, always make a plan. Always know the amount you’re borrowing and how much will you be able to pay back, and when! Budgeting is a great tool in situations like this (or always, really)!

How much can I borrow? 

According to the state regulations of Monroe, LA, you can borrow up to $1000. While it may not cover everything, $1000 can help a lot of people out when they are in a financial pinch. You can find more state by state info at this link

Is my transaction confidential?

Most payday loan lenders have a privacy policy, and your transaction information should never be leaked or shared with a third party. Another good thing about payday loans is that they do not need to have any impact on your credit score. 

There’s never a harm in asking your lender about their privacy policy if that makes you feel more comfortable! Don’t be afraid to ask questions if you are unsure of the details. 

Easy Online Application

Nobody likes applications that take half your day! Because of that, we have made sure to put together an easy and brief online application for your convenience. All you need is:

  1. Your Social Security Number (SSN)
  2. Your banking information
  3. A recent pay stub

With this information, you can apply for a direct payday loan in minutes and get your money as soon as the same day. Loan applications don’t get any easier than this!

Click here to start your online application now!

Local Payday Loans Near Me in Monroe, LA:

The online application we offer is a very convenient way of applying for a loan (we think it is the best way to apply for a payday loan!). However, we understand if you prefer doing your financial business in person. Thus, the list of lenders below! It can be much more difficult to compare loans and terms if you have to drive everywhere or call a bunch of people. Therefore, we recommend applying online through Direct Payday Loans. 


We only want the best for our customers, so we have created a shortlist of local stores for you. Here are a few local stores in the Monroe, LA area. Don’t forget that you don’t have to go visit a store in person – you can simply apply through our application engine at the top of the page!

Monroe Cash Advance

1007 Sterlington Rd, Monroe, LA 71203

(318) 361-0312

Monroe Cash Advance has a good reputation in the local area and their online reviews are proof that they’re a great store. They’re said to have a big store which means you don’t have to wait in long queues and their staff is also very helpful!

Paycheck Loans

511 Louisville Ave STE A, Monroe, LA 71201

(318) 322-1116

Paycheck Loans is a good store with super fast processing time. We recommend them if you have a big loan to take out because they’re known for approving bigger loans quickly. On top of this, they have decent interest rates compared to the market. 

ACE Cash Express

3227 Louisville Ave, Monroe, LA 71201

(318) 651-0999

ACE Cash Express is a nationally known store which makes them reliable. Their store has a good local customer base because of how quick and convenient their loan approval process. Additionally, they’re a beginner friendly store.


3201 Louisville Ave, Monroe, LA 71201

(318) 737-7017

LendNation is a good payday lending store with an inhouse financial advisor that helps you figure out your financial situation. Additionally, they have decent interest rates and also allow rollovers which gives you a little security when you take out a loan.