Louisiana Rates & Terms
| Know Before You Owe
State
Creditor
CASH 1 LA, LLC
Annual Percentage Rate
27%. Commonly referred to as “APR,” this is the cost of your credit on an annual basis, excluding fees.
Advances to You:
Subject to final credit approval, we will establish a line of credit for you (the “Line of Credit”) and make an immediate Cash Advance into your bank account. As you make payments on the Line of Credit and build your Wealth Account balance by contributing to the Account through your monthly payments, you will have the opportunity to take further Advances under the Line of Credit.
Security Deposit Account (Wealth Account):
Your periodic payments will pay down the amount you owe us under the Line of Credit and simultaneously increase your Wealth Account balance, which grows into a rainy-day fund over time. Amounts in the Wealth Account will be deposited into an interest earning savings account.
Payments:
Your Minimum Payment Due on your Line of Credit will be approximately $86on a monthly basis assuming a $1,000 Cash Advance. In addition, your Security Deposit Account Payment will be $100 per month to your Wealth Account. Therefore, your total monthly payments will be approximately $186 per month.
Fees
Account Opening Fee:
$50
Monthly Fee:
$10
Prepayment Penalty:
$0
Penalty Fee (Late Fee):
$10
License and Registration
CASH 1 LA, LLC is licensed and regulated by the Louisiana Office of Financial Institutions.
8660 United Plaza Boulevard, 2nd Floor
Baton Rouge, LA 70809-7024
Phone: 225-925-4660
ofi.la.gov
Licenses
Certificate of Licensed Lender Main Office (In-State and Out-Of-State with Lending Activity)
Contact Information For Consumer Counseling
Customers with credit difficulties should seek credit counseling before entering into a Revolving Line of Credit.
Please see the following link to the U.S. Department of Justice website for a list of federally approved credit counseling agencies: http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm