Cash Advance and Payday Loans in Nashville, TN.

Finding alternative lending solutions in Nashville, TN, is not difficult. Many reputable lenders in your location may grant you short-term loans, such as payday loans or installment loans. These types of loans may be most suitable when faced with a financial emergency. Read more about your hometown loan opportunities to choose the lending companies that work best for you.

Advantages of Taking Out a Payday Loan in Nashville

Taking out payday loans in Nashville has many advantages.

• The loan request process is fast, easy, and requires minimal documents. If approved, the funds may be directly deposited in as little as one business day.
• Consumers may not need to secure their loans with collateral.
• Requesting an online loan is flexible and convenient because you can fill out the loan request anytime and from the comfort of your home or office.
• Consumers with damaged credit scores may be eligible for a loan if they prove to the lender that they can pay back the loan on time. Lenders may consider income alongside credit scores when determining eligibility.

How to Get a Cash Advance and Payday Loan in Nashville

Finding a cash advance and payday loan in Nashville is simple. Those who wish to get a loan can submit a request online by visiting the lender's website and filling out the request form. Typically, the lender will require some personal and financial information.

Cash Advance and Payday Loan Requirements

Consumers must be legal Tennessee residents of at least 18 years of age to qualify for a payday loan in Nashville. While filling out the loan request, most lenders ask for the following documents:

• Government-issued ID
• Checking account number
• Social Security number
• Proof of income
• Proof of residence

Some lending companies may ask for additional documents.

Costs and Regulations of Cash Advances and Payday Loans in Nashville, TN

The Department of Financial Institutions regulates the payday lending industry in Nashville, TN. The maximum payday loan amount is $500, and the maximum loan term is 31 days. The APR ranges around 460%. Finance charges cannot exceed 15% of the borrowed amount or $17.65 for $100. Borrowers can obtain three loans at once, but only two per lender. Also, the total for all loans must not exceed $500. Rollovers are not allowed, and criminal charges are prohibited in Nashville.

Installment Loans in Nashville

Nashville residents that want to fund larger expenses can request an installment loan. Installment loans are paid in equal monthly installments. In Nashville, borrowers can request up to $5,000. The maximum loan term is one year, and like a payday loan, the APR ranges around 460%. To get an installment loan, lenders may ask for the same documents as a payday loan.

Requesting Title Loans in Nashville

Short-term loans come in various amounts. When the maximum amounts on payday loans are too little, some borrowers may turn to car title loans. With title loans, the borrower uses their vehicle's title as collateral to secure the loan.

In Nashville, title loans are capped at $2,500, and borrowers must pay back the loan in 30 days. However, some lenders may renew the loan for another 30 days if the loan is in good standing. Moreover, before the third renewal, the borrower must pay at least 5% of the principal amount. Interest fees are capped at 2% per month, but lenders can charge additional fees. However, these added charges cannot exceed one-fifth of the total loan amount. If the consumer defaults on their loan, the lender can legally repossess the vehicle.

To request a car title loan in Nashville, lenders may ask for the following documents:

• Government-issued ID
• Lien-free title of the car
• Checking account
• Active bank statement
• Proof of income
• Proof of resident

Our Favorite Nashville, TN, Cash Advance and Payday Loan Companies

There are multiple cash advance and payday loan companies in Nashville, TN. The following are some of our favorite lenders in Nashville:

Advance America

Advance America offers payday loans of up to $425. Additionally, the lender may offer installment loans of up to $3,000 and title loans of $2,500. The APR for these financial products ranges around 300% and 110%, respectively. The company also offers lines of credit ranging from $200 to $3,000. Borrowers can pay back their loans in bi-weekly or monthly payments. Advance America is accessible online and has six locations in Nashville, TN.

Capitol Cash

On the other hand, Capitol Cash offers payday loans up to $400 and title loans up to $2,500. The company may offer competitive APR and fees. Nashville residents can request a loan from Capitol Cash online or visit one of their six locations.

Speedy Cash

Speedy Cash offers both online and in-store loan options. Additionally, their financial products include payday loans, installment loans, title loans, business loans, and lines of credit. Your qualified amounts can range between $200 and $25,000. Standard APR fluctuates between 100% and 500%. However, keep in mind that the approved amount and APR are subject to change based on credit scores, income, and city ordinances.

Additionally, Speedy Cash also provides financial services, such as check cashing, money orders, and money transfers. Speedy Cash has four locations in Nashville, TN.