Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Pawn Shops vs Payday Loans in Monroe, LA
3 pawn shops in and around Monroe — 3.4 per 100,000 residents, compared with 3.2 across Louisiana. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Monroe ranks #18 of 19 Louisiana cities with pawn shops by shops per resident.
- Pawn shops
- 3
- Pawn shops per 100k
- 3.4
- Louisiana: 3.2
- Big-chain shops
- 1
- Payday & loan stores
- 5
- Population
- 88,011
Pawn shops in Monroe: addresses and phone numbers
| Pawn shop | Address | Phone | Website |
|---|---|---|---|
| Cash America PawnChain | 2512 Louisville Ave Monroe, LA 71201 | (318) 322-8503 | find.cashamerica.us |
| Desiard St Pawn & Car Audio | 3814 Desiard St Monroe, LA 71203 | (318) 343-8283 | desiardstreetpawn.com |
| Pawn Pros LLC | 3003 Louisville Ave Monroe, LA 71201 | (318) 322-9450 | — |
Pawn shops vs payday loan stores in Monroe
Monroe has 5 payday, installment and title loan stores but only 3 pawn shops.
Pawn shops
3
3.4 per 100k residents
Payday & loan stores
5
5.7 per 100k residents
4 store chains
Biggest loan store chains in Monroe: ACE Cash Express (2), 1st Franklin Financial (1), Advance America (1), Security Finance (1).
Borrowing $350 for one month: payday vs pawn vs credit union
| Option | How it works | Cost for one month |
|---|---|---|
| Payday loan (~780% APR) | $68.62 fee every 2 weeks, renewed once | $137.24 |
| Pawn loan (example: 20% a month) | You leave an item worth more than the loan; repay to get it back | $70.00 |
| Credit union PAL (28% APR + $20 fee) | Repaid in installments; membership required | $28.17 |
- Payday cost, share of monthly household income in Monroe
- 3.9%
- Pawn cost, share of monthly household income in Monroe
- 2.0%
- A $400 emergency equals
- 3.5 days of income
Payday: the LA maximum — $68.62 on a $350 loan for 2 weeks, paid twice for a one-month loan. Pawn: an example rate of 20% a month; pawn fees and interest are set by Louisiana law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20. Income: U.S. Census Bureau, American Community Survey.
Pawn loan vs payday loan: the key differences
| Pawn loan | Payday loan in LA | |
|---|---|---|
| What you need | An item of value (jewelry, gold, electronics, tools, firearms) and an ID | A bank account, proof of income and an ID |
| Credit check | None | Usually none |
| How much you get | A fraction of the item's resale value | Based on your income, up to the state limit |
| If you can't repay | The shop keeps the item; no collections and no credit damage | Fees pile up with renewals; the debt can go to collections |
| Bank account access | None | Lender can debit your account or cash your check |
| Rules in Louisiana | Pawnbrokers are licensed and regulated by Louisiana; fees, terms and holding periods are set by state law | Allowed, up to $350; typical APR ~780% |
Monroe at a glance
- Median household income
- $42,291
- Louisiana: $62,722
- Poverty rate
- 31.5%
- Louisiana: 19.0%
- Households under $25,000
- 34.1%
- Louisiana: 22.6%
- A $400 emergency equals
- 3.5 days of income
Payday and installment loan stores in Monroe
For comparison: storefront payday, installment and title lenders in Monroe with addresses, phone numbers and hours.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 1417 Winnsboro Road Monroe, LA 71202 | (318) 324-8003 | — | 4.9 |
| 3227 Louisville Ave Monroe, LA 71201 | (318) 651-0999 | — | 5.0 |
| 1860 Forsythe Ave Monroe, LA 71201 | (318) 388-2327 | — | 5.0 |
| 2820 Louisville Avenue, Suite 120 Monroe, LA 71201 | (318) 322-3320 | Mon–Thu 10:00 AM – 6:00 PM Fri 9:00 AM – 6:00 PM Sat 9:00 AM – 1:00 PM Sun closed |
— |
| 3201 Louisville Ave #8 Monroe, LA 71201 | (318) 388-5865 | — | 4.8 |
Pawn shops near Monroe
More about Monroe
Pawn shop listings: © Overture Maps Foundation (CDLA-Permissive 2.0), including Foursquare OS Places and © OpenStreetMap contributors; filtered and de-duplicated by us. Population, income and poverty: U.S. Census Bureau, American Community Survey. Call ahead to confirm hours and what a shop buys or lends on.