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Payments Accepted

-Cash

-Mastercard Debit ($6.95 processing fee)

-VISA Debit ($6.95 processing fee)

-Money Order

-Check

-Automatic Draft

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**We are unable to accept any CashApp cards.**

FAQs

1

How does the loan process work?

We will take an application on you, run your credit, and verify your employment of at least 1 year. The amount that you are approved for depends on the purpose of the loan, your credit history, your income, and the items that you have for collateral.

2

How long does it take to apply for a loan & get approved?

The application process takes about an hour. Once you are approved, you will have the cash you need within a few hours.

3

What can personal loans be used for?

Whatever you need extra cash for!

Weddings, vacations, education, home improvement, unplanned emergencies, celebrations, funeral expenses, medical bills, moving expenses...THE POSSIBILITIES ARE ENDLESS!

4

What must I bring in when I apply for a loan?

  • Valid Louisiana Drivers License

  • Social Security Card or Last Year's Tax Return

  • Last 2 Check Stubs (Proof of Income)

5

Does Preferred Loans report to the credit bureaus?

We report directly to Equifax.

6

Will I be penalized for paying off my loan early?

No! We allow you to pay off your loan early without any penalties.

7

How will I receive my funds and will I have to cash a check?

You will receive your funds by check. You can cash the check at any Investar Bank location or deposit it directly into your bank account.

8

How are loan terms decided?

Loan terms are decided on an individual basis. We take into account each customer's needs. A variety of factors play a part in how the terms are decided: credit history, income, value of collateral, etc.

9

Will my rate change?

No, your rate will stay the same the entire length of your loan.

10

Is collateral required on all of your loans?

Yes, depending on the amount of the loan, we either need household items to list for collateral or a vehicle title.

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Household items- TVs, Washers, Dryers, Laptops, Lawn Mowers, etc.

11

How do I make a payment on my loan?

Online: preferredloans.org/onlinepayment

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By Phone:

225-644-0304

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By Mail:

12241 Roddy Rd

Gonzales, LA 70737

12

What if I need to make a payment after hours or on the weekend?

You are welcome to make a payment online on your portal, or we have a drop box located in the drive thru that cash/check payments can be dropped off in.

13

Does Preferred Loans charge a convenience fee on card transactions?

Our third party payment processor charges a $6.95 fee on all debit card transactions. We do not charge convenience fees on any other payment methods.

14

Does Preferred Loans charge a late fee if you are late on payments?

Yes, once you are out of your 10 day grace period, a late fee will be added onto your payment amount.

15

How can I request a pay off amount on my loan?

Please contact our office at 225-644-0304 to request a pay off on your loan. You can also send an email to jordyn@preferredloansla.com.

16

I made the last payment on my auto loan. When can I expect my title?

Your title will be released 30 days after your final payment is received. Your title can be mailed or picked up from our office.

17

How do I find my account number?

Your loan number is located at the top of your finance contract. If you are unable to find it, you can contact our office at 225-644-0304 for your account number.

18

Does Preferred Loans use a 3rd party debt collector to collect debts owed?

We do not. We handle all debt collection in our office.

CUSTOMER

TESTIMONIALS

"I have been associated with Preferred Loans for over 8 years now. The professionalism, impeccable customer service and concern for the client is 2nd to none. My business depends on Shana, Kristen & crew at Preferred Loans!"

Dean Guillot, Facebook

"10/10 customer service!! The online payment option is super helpful!"

Malloree Milton, Google

"The very best of all finance companies I have ever dealt with. The staff goes beyond and above expectations. Would I refer this company: DEFINITELY!!"

Pamela Breaux, Facebook

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