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Payday Loans in Tennessee

A same day payday loan in Tennessee is an attractive solution for an individual or a family in need of extra cash. AdvanceSOS offers a safe and convenient solution to receive money quickly. One of the benefits of using our service is speed your application will get approved in just a few hours, and you will receive the cash the next business day. Whether you’re in Memphis, Nashville, Knoxville, Jackson, Clarksville, Chattanooga, Murfreesboro or anywhere in Tennessee, you can find the right loan until payday for you with AdvanceSOS.

How Much Can I Get a Payday Loan for in Tennessee?

According to the National Conference of State Legislatures (NCSL), the aggregate face value of all outstanding checks from any one customer may not exceed $500. In other words, the maximum loan amount that you can borrow at any given time is $500.

Where Can I Get a Payday Loan in Tennessee?

You can get a payday loan in Tennessee in two ways physically or online. Physical loan stores include banks, loan agencies, and financial institutions located in Tennessee. Online payday loan services like AdvanceSOS give you the comfort of being able to apply whenever you want and in whatever city you live, from Memphis to Johnson City.
A quick payday loan in Tennessee through our site is one of the easiest loans to obtain:

  • The application process is faster it takes just a few minutes to fill out the form.
  • Customers can apply anywhere from the comfort of their home, and whenever they need it.
  • There are no additional fees.

How Many Flex Loans Can You Have in Tennessee?

In TN, a customer may have only one flex loan at a time. It is illegal to have multiple lines of credit.

A flex loan is a specific type of cash advance, or unsecured personal line of credit. Borrowers have access to a credit line that they repeatedly draw on and pay off. In simpler terms, you borrow an amount of money, repay it partially or completely, and then borrow again up to the credit limit.

What Are the Rates and Terms?

A licensee may apply finance charges to defray operational costs which shall not exceed 15% of the total amount of the check (Tenn. Code Ann. § 45-17-112(b)). Nonetheless, loan rates, expressed in APR (annual percentage rate), in Tennessee nears 460%.

For example, if you consider a popular $200 loan in Tennessee, here’s how the calculate the cost per $100 with a 14-day term:

$200 15% (0.15) = $30

$200 – $30 = $170

$30 $170 = $17.65

$17.65 14 days = 1.26% per day

1.26 365 days = 460% APR

Frequently Asked Questions

Are Rollovers Allowed in Tennessee?

According to Tennessee law, rollovers are allowed in two ways: borrowers can either do a direct rollover or a 60–day rollover. For direct rollovers, the plan will make the payment directly to your IRA or an employer plan.
Rollovers, or renewals, are an option to delay the loan payment by paying a fee without reducing the amount owed.

Does AdvanceSOS Charge Any Fee?

AdvanceSOS doesn’t charge any fees to our customers the service is TOTALLY FREE. The system works as an intermediary between the clients and the best potential lenders for them, and it is 100% free so every customer can get the most affordable deal. They will only have to pay the interest rates accorded in the loan agreement.

What Are the Requirements to Get a Payday Loan in TN?

There are five main criteria you need to satisfy in order to be eligible for a payday loan in Tennessee and get approved:
1. Be 18 years old or older
2. Hold U.S. citizenship or be a legal Tennessee resident
3. Receive an average monthly income of at least $1,500 after-tax
4. Hold a valid checking account in your own name
5. Have an active phone number and email address

When Do I Need to Repay the Money?

Given that a payday loan is a short-term loan, and as the name suggests, repayment must be done as soon as your next payday arrives. So, loans should be paid back in about two to four weeks. In Tennessee, the maximum loan term is 31 days.
In case of long-term personal loans, the repayment plan is divided in monthly installments.

How Soon Can I Receive Funds With a Payday Loan in Tennessee?

Funds will be available no more than 24 hours after you and the lender signed the digital agreement. The process is extremely quick, as the application will take you just a few minutes and the approval a couple of hours. Then, simply sign an official agreement with your lender and  you will receive the money the next business day.

Will Submitting a Form Affect My Credit Score?

Submitting an online application form won’t affect your credit score at all. With AdvanceSOS, applying for a payday loan in Tennessee won’t leave any traces on your credit history. Therefore, you can rest assured your credit won’t be affected by any loan applications completed through our service.

How To Apply for a Payday Loan in Tennessee?

  1. Make sure you comply with the basic criteria for eligibility listed above.
  2. Access our site advancesos.com and click on “Get Started”.
  3. Fill out the quick loan request form. Among the information you need to enter, specify the amount of money you need to borrow (max. $500 in TN) and the anticipated repayment date. Additional details will be requested.
  4. Once you submit the form, wait a few hours for the approval.
  5. After you receive the loan approval, carefully read all the terms and conditions and sign the contract between you and the lender.
  6. You will receive your money within the next business day.

What Are the Benefits of Payday Loans in Tennessee?

  • Cash arrives quickly. Direct lenders in TN won’t make you wait for the money for days, like traditional lenders would.
  • You are free to spend the loan amount on anything. There are no restraints in how you use the cash as long as you comply with the repayment plan.
  • No credit check poor credit is accepted. Lenders won’t run hard credit checks on you, meaning that your credit history won’t be analyzed or affected.
  • It is easy to obtain a payday loan in Tennessee. Within a day you could receive your cash.

Can I Apply For Multiple Loans in Tennessee?

In TN, the law states you can have a maximum of one outstanding loan. The maximum amount cannot exceed the value of $500.

Can I Get a Payday Loan if I Have a Bad Credit Score?

Poor credit history doesn’t matter because payday loans in Tennessee don’t require a hard credit check, only a soft check. This means that the lender won’t go through your credit rating, making a payday loan in Tennessee is perfect for those who have a bad credit history.

Can I Get a Payday Loan With No Credit Check?

When applying for cash advances through fast payday loans, TN direct lenders won’t run hard credit checks, only soft checks. Thus, they will not review your credit history or judge your credit rating, and will only take simple measures to ensure you are among the qualified applicants (e.g., checking your employment details, personal and banking information, contact details).

What Are Same-Day Payday Loans?

Usually, a payday loan is a same day loans. This small-dollar cash advance is unsecured, meaning that it doesn’t require a collateral, and are “same-day” because you get the money very quickly because they do not require any hard credit checks with credit bureaus that take time and negatively impact your credit.

How To Increase the Chances of Getting Tennessee Payday Loans

  • Apply early. AdvanceSOS’ offices process loan applications on weekdays until 6 PM CST and on weekends until 2 PM. The best you can do is to apply on weekdays before lunchtime because most banks are unavailable for wire transfers on weekends.
  • Submit a perfect application. This doesn’t mean having a perfect credit history, but simply submitting an error-free and accurate form.
  • Follow all the requirements.
  • Have open communication with your payday lenders.

What Documents Are Needed for Payday Loans Tennessee?

To obtain Tennessee payday loans online, these are the documents you must submit:

  • Social Security Number
  • Government-issued ID
  • Proof of steady income and employment
  • Active bank account details

When Should I Apply for a Tennessee Payday Loan?

You should apply online for a payday loan when you are in need of emergency cash. For Tennessee residents, whether you need to find extra cash for home renovations, a car repair, or utility bills, quick payday loans in Tennessee are the perfect option as long as you can satisfy the loan terms.

What Kinds of Payday Loans Are There?

Here are some terms related to cash advance types to orient you better in the financial field:

  • Cash loans are all types of loans in which the lender lends money to a borrower. The loan amounts depend on the state and the type of contract. They have high popularity in Texas and Florida.
  • Installment loans require the borrower to repay the lender according to a monthly plan. It is the opposite of a payday loan, which has to be repaid with the next paycheck in one lump sum.
  • Online loans are all loans a borrower has to apply for through an online form.
  • When it comes to title loans, you commit some asset of yours, such as a car or your house. If you fail to repay the loan in time, the collateral you committed can be taken away from you by the lender.
  • If the amount of cash requested is small, such as $500, then you are applying for small dollar loans.

Updated: Dec 1, 2022

What Are The Current Regulations for Payday Loans in Tennessee?

Law status legal
MIN Loan Amount $100
MAX Loan Amount $500
MIN. Loan Term 14 days
MAX. Loan Term 31 days
MAX APR 459%
Additional fees 20% plus database fee
NSF fee None
Collateral or guarantor None, unsecured
Number of simultaneous loans 3 but no more than $500
Cooling off period 3 days
Rollover Not allowed
Extension, repayment plan Not allowed
Default penalties Criminal actions are prohibited
Credit score requirements Available for Bad Credit

Where Can We Help You Get a Payday Loan in Tennessee?

AdvanceSOS offers quickly help you find the best payday loans offers in cities like Memphis, Nashville, Knoxville, Jackson, Clarksville, Chattanooga and Murfreesboro.

Memphis

Nashville

Knoxville

Other cities

Adams Adamsville Afton Alamo
Alcoa Alexandria Allardt Allons
Allred Alpine Altamont Andersonville
Antioch Apison Ardmore Arlington
Arnold A F B Arrington Arthur Ashland City
Athens Atoka Atwood Auburntown
Bakewell Bath Springs Baxter Bean Station
Beech Bluff Beechgrove Beersheba Springs Belfast
Bell Buckle Bells Belvidere Benton
Bethel Springs Bethpage Big Rock Big Sandy
Birchwood Blaine Bloomington Springs Blountville
Bluff City Bogota Bolivar Bon Aqua
Braden Bradford Bradyville Brentwood
Briceville Brighton Bristol Brownsville
Bruceton Brunswick Brush Creek Buchanan
Buena Vista Buffalo Valley Bulls Gap Bumpus Mills
Burlison Burns Butler Bybee
Byrdstown Calhoun Camden Campaign
Carthage Caryville Castalian Springs Cedar Grove
Cedar Hill Celina Centerville Chapel Hill
Chapmansboro Charleston Charlotte Chattanooga
Chestnut Mound Chewalla Christiana Chuckey
Church Hill Clairfield Clarkrange Clarksburg
Clarksville Cleveland Clifton Clinton
Coalfield Coalmont Cokercreek College Grove
Collegedale Collierville Collinwood Columbia
Como Conasauga Cookeville Copperhill
Cordova Cornersville Corryton Cosby
Cottage Grove Cottontown Counce Covington
Cowan Crab Orchard Crawford Crockett Mills
Cross Plains Crossville Crump Culleoka
Cumberland City Cumberland Furnace Cumberland Gap Cunningham
Cypress Inn Dandridge Darden Dayton
Decatur Decaturville Decherd Deer Lodge
Del Rio Delano Dellrose Denmark
Dickson Dixon Springs Dover Dowelltown
Doyle Dresden Drummonds Duck River
Ducktown Duff Dukedom Dunlap
Dyer Dyersburg Eads Eagan
Eagleville Eaton Eidson Elgin
Elizabethton Elkton Ellendale Elmwood
Elora Englewood Enville Erin
Erwin Estill Springs Ethridge Etowah
Eva Evensville Fairview Fall Branch
Farner Fayetteville Finger Finley
Five Points Flag Pond Flintville Fosterville
Frankewing Franklin Friendship Friendsville
Fruitvale Gadsden Gainesboro Gallatin
Gallaway Gates Gatlinburg Georgetown
Germantown Gibson Gladeville Gleason
Goodlettsville Goodspring Gordonsville Grand Junction
Grandview Granville Graysville Greenback
Greenbrier Greeneville Greenfield Grimsley
Gruetli Laager Guild Guys Halls
Hampshire Hampton Harriman Harrison
Harrogate Hartford Hartsville Heiskell
Helenwood Henderson Hendersonville Henning
Henry Hermitage Hickman Hickory Valley
Hilham Hillsboro Hixson Hohenwald
Holladay Hollow Rock Hornbeak Hornsby
Humboldt Huntingdon Huntland Huntsville
Huron Hurricane Mills Idlewild Indian Mound
Iron City Jacks Creek Jacksboro Jackson
Jamestown Jasper Jefferson City Jellico
Joelton Johnson City Jonesborough Kelso
Kenton Kingsport Kingston Kingston Springs
Knoxville Kodak Kyles Ford La Follette
La Grange La Vergne Laconia Lafayette
Lake City Lancaster Lancing Lascassas
Laurel Bloomery Lavinia Lawrenceburg Lebanon
Lenoir City Lenox Leoma Lewisburg
Lexington Liberty Limestone Linden
Livingston Lobelville Lone Mountain Lookout Mountain
Loretto Loudon Louisville Lowland
Lupton City Luray Luttrell Lutts
Lyles Lynchburg Lynnville Macon
Madison Madisonville Manchester Mansfield
Martin Maryville Mascot Mason
Maury City Maynardville Mc Donald Mc Ewen
Mc Kenzie Mc Lemoresville Mc Minnville Medina
Medon Memphis Mercer Michie
Middleton Midway Milan Milledgeville
Milligan College Millington Milton Minor Hill
Mitchellville Mohawk Monroe Monteagle
Monterey Mooresburg Morris Chapel Morrison
Morristown Moscow Mosheim Moss
Mount Carmel Mount Juliet Mount Pleasant Mountain City
Mountain Home Mulberry Munford Murfreesboro
Nashville New Johnsonville New Market New Tazewell
Newbern Newcomb Newport Niota
Nolensville Norene Normandy Norris
Nunnelly Oak Ridge Oakdale Oakfield
Oakland Obion Ocoee Old Hickory
Oldfort Olivehill Oliver Springs Oneida
Only Ooltewah Orlinda Pall Mall
Palmer Palmersville Palmyra Paris
Parrottsville Parsons Pegram Pelham
Petersburg Petros Philadelphia Pickwick Dam
Pigeon Forge Pikeville Piney Flats Pinson
Pioneer Pleasant Hill Pleasant Shade Pleasant View
Pocahontas Portland Powder Springs Powell
Primm Springs Prospect Pruden Pulaski
Puryear Quebeck Ramer Readyville
Reagan Red Boiling Springs Reliance Riceville
Rickman Riddleton Ridgely Ridgetop
Ripley Rives Roan Mountain Robbins
Rock Island Rockford Rockvale Rockwood
Rogersville Rossville Rugby Russellville
Rutherford Rutledge Saint Joseph Sale Creek
Saltillo Samburg Santa Fe Sardis
Saulsbury Savannah Scotts Hill Selmer
Sequatchie Sevierville Sewanee Seymour
Shady Valley Sharon Sharps Chapel Shawanee
Shelbyville Sherwood Shiloh Signal Mountain
Silerton Silver Point Slayden Smartt
Smithville Smyrna Sneedville Soddy Daisy
Somerville South Fulton South Pittsburg Southside
Sparta Speedwell Spencer Spring City
Spring Creek Spring Hill Springfield Springville
Stanton Stantonville Stewart Strawberry Plains
Sugar Tree Summertown Summitville Sunbright
Surgoinsville Sweetwater Taft Talbott
Tallassee Tazewell Telford Tellico Plains
Ten Mile Tennessee Ridge Thompsons Station Thorn Hill
Tigrett Tipton Tiptonville Toone
Townsend Tracy City Trade Trenton
Trezevant Trimble Troy Tullahoma
Turtletown Unicoi Union City Unionville
Vanleer Viola Vonore Walland
Walling Wartburg Wartrace Washburn
Watauga Watertown Waverly Waynesboro
Westmoreland Westpoint Westport White Bluff
White House White Pine Whites Creek Whitesburg
Whiteside Whiteville Whitleyville Whitwell
Wilder Wildersville Williamsport Williston
Winchester Winfield Woodbury Woodland Mills
Woodlawn Wynnburg Yorkville Yuma

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