Every state has different pay day lending laws regarding the amount you can borrow, the term for repayment, and how many times you can have an extension or rollover if you need additional time to pay it off. In Tennessee, the maximum amount you can borrow on a pay day loan is $500.00, and the maximum term for repayment is 31 days. The maximum fee a lender can charge for a 14-day, $100. loan is $17.65. In Tennessee, extensions on pay day loans are not allowed by law.
Tennessee Pay Day Loan Laws
Maximum Loan Amount: $500.00
Maximum Fees and Finance Charge: $30, or 15% of the loan– whichever amount is less
Annual Percentage Rate: 459%
Minimum Payoff Time: not specified
Maximum Payoff Time: 31 days
Extensions Allowed: not allowed in Tennessee
Top 5 Tennessee Pay Day Loan Companies
P.O. Box 550
Cleveland, TN 37364-0550
checkintocash.com
This company will process loans by telephone, over the internet, or at a store location. Based in Tennessee, they have been in business since 1993. All you need to apply is your pay stub, your bank statement, and your photo I.D. Check Into Cash, Inc. is a direct lender, so everything from applying to receiving your funds is a fast, uncomplicated process.
Corporate Headquarters
1901 Church Street
Nashville, TN 37203
The maximum you can borrow for a pay day loan from Advance Financial is $200. You will need proof of income, your checkbook, and your photo I.D. when you visit a store to apply for a loan. Advance Financial currently has twenty-six store locations throughout Tennessee. The stores are open seven days a week, and many are open twenty-four hours a day.
315 A. Harding Place
Nashville, TN 37211
615-837-2222
a1cashadvance.com
This company has store locations in Nashville, Tennessee, and Murfreesboro, Tennessee. If you do not live near either of these cities, you can apply online at the A1CashAdvance.com website. The maximum Tennessee residents can borrow through this company is $250. Borrowers must have a checking account, pay stub, a photo I.D., and a bank statement, to be eligible for a loan.
367 Harding Pl Ste C
Nashville, TN
(615) 331-5439
acecashexpress.com
Ace Cash Express is a well-known company that operates in almost every state. This company offers a few different types of loan with a normal payday loan being the most popular. In Tennessee, the maximum amount you can get from Ace Cash Express will equal $500 including all the fees involved. This company knows all of the laws and regulations in every state operates in so you can be sure you’re getting the full amount you qualify for and aren’t paying any hidden fees.
214 West Main Street
Lebanon, TN
(615) 444-9480
firstcash.com
First Cash is widely known for being a popular pawn shop as well is a cash advance company. Currently there are over 577 stores in eight US states and 20 Mexican states. This company has been in business since 1988 and has developed a reputation for having great customer service and being able to meet customer’s personal finance needs.