Updated almost 10 years ago on . Most recent reply
Interest Rate on Promissory Note Louisiana
I live in Louisiana and have a friend who is lending $12,000 to someone who is buying a property. The loan will be paid back within 6 months on a promissory Note. What is the maximum interest he can charge on this loan? I know Louisiana usury law says 12%, but is there a provision for smaller amount like this? His banker said 26% was max on a loan like that... Hearing mixed things
Thanks



