Covington, LA · South · Allowed
Payday loans in Covington
Covington is governed by Louisiana's statewide lending law — cities don't set their own loan rules. Storefront payday lending is permitted in Louisiana. State law caps what lenders can charge — the limits below are the legal ceiling, and honest lenders stay under it.
The limits below are the legal ceiling — any offer above them is being made outside the law.
Lending storefronts in Covington
10,310 residents · St. Tammany Parish County Median household income is $49,141 — above the Louisiana median of $46,376.
5 storefront locations of 5 companies listed in the public directory snapshot below. Categories are the directory's own — verify a store's license with the state regulator before borrowing.
| Lender | Address | Phone | Hours |
|---|---|---|---|
| 1st Franklin Financial Installment Loans | 2033 Hwy 190 N Ste 7, 70433 | (985) 893-3621 | Mon 8:30 AM - 5:30 PM · hours vary |
| Advance America Title Loans, Check Cashing/Pay-day Loans | 1200 Business Hwy 190 Ste 4, 70433 | (985) 893-4892 | Mon 10:00 AM - 6:00 PM · hours vary |
| Easy Money EMG - Covington Check Cashing/Pay-day Loans, Installment Loans | 1200 Business Highway 190 Bay 17, 70433 | (985) 871-0590 | Mon 9:00 AM - 6:00 PM · hours vary |
| Republic Finance Installment Loans, Auto Loan Providers, Check Cashing/Pay-day Loans | 1170 N Highway 190 Ste C, 70433 | (985) 234-9134 | Hours not listed |
| Security Finance Installment Loans | 2033 N Hwy 190 Ste 8, 70433 | (985) 871-7300 | Mon 8:30 AM - 5:00 PM · hours vary |
Listing data: public business directory, collected 2022-02-20. Stores close and relocate — confirm with the regulator's license lookup on the Louisiana page before visiting. Spot an error? Report it.
The online route in Covington
A parallel market lends entirely online — application, decision and funding on a website, no storefront. Lenders licensed in Louisiana follow the state schedule anywhere in the state, but bank-partner and tribal loans are structured outside state rate limits, and regulators dispute that model.
From the online lenders directory — terms each lender publishes about itself, checked September 2026. Directory only: we are not affiliated and make no availability promises — verify with the lender and the Louisiana regulator.
The rules behind the numbers
Deferred presentment small loans are high-cost credit products intended for short-term financial needs only.
In practice: borrow $300 for a standard term and the finance charge is $60.25 — $360.25 repaid at the end, about 523% APR. Every compliant lender in Covington has to fit inside that schedule.
Statute: La. R.S. 9:3578.1 et seq.
Regulator: Louisiana Office of Financial Institutions · www.ofi.la.gov
Questions people ask in Covington
Are payday loans legal in Covington, LA?
Yes. Storefront payday lending is permitted across Louisiana, and Covington runs under the same state rules: maximum loan $350, fees capped at 16.75% of check amount ($16.75 per $100) + $10 documentation fee. A store charging above the cap is operating illegally.
How much would a $300 loan cost me in Covington?
The same as anywhere in Louisiana: state law sets the schedule. On a typical $300 loan the finance charge is about $60.25 — $360.25 repaid at the end of the standard term.
Which lenders have stores in Covington?
5 storefronts are listed in Covington in our 2022-02-20 directory snapshot (5 different companies). The full list with addresses, phones and hours is in the table above.
Who regulates lenders in Covington?
Complaints about a lender go to the Louisiana Office of Financial Institutions (www.ofi.la.gov) — keep the loan agreement and every fee disclosure you were given.