Payday Loans in Knoxville, Tennessee

Incidents happen, and we often find ourselves in a situation where we must pay for some unforeseen bills. Consider submitting an application for a payday loan in Knoxville, TN, to see if you meet the requirements.

The loan process is fast and straightforward. To be eligible, you must satisfy a few general criteria.

What is a Cash Advance Loan? What Can It Cover?

A paycheck advance loan is where the borrower will get a petite amount of money on a short-term contract. This is deemed to be an unsecured loan as no collateral is required.

When unexpected costs present themselves, like missed rent or utility expenditures, auto bills, health or vet bills, and so forth, individuals commonly rely upon paycheck advance loans.

Paycheck Advance Loan Requirements In Knoxville, TN

In Knoxville, TN, payday advance loan borrowers need to meet several criteria to be eligible for a loan.

The borrower must:

• Show proof that they live in Knoxville, Tennessee
• Must be at least 18
• Have a steady income that they can prove that's at least $1,000/month
• Provide current contact details like phone number and email address
• Provide their social security number

If a borrower does not meet the above requirements, they will automatically be denied a paycheck advance loan. Ensure that you can provide the documents required when requesting a loan.

Laws and Regulations Concerning Paycheck Advance Loans in Knoxville, Tennessee

The State of Tennessee has deemed paycheck advance lending legal. However, they have set the below rules and regulations for the paycheck advance lending market:

• An individual lender cannot extend a loan greater than $600. Borrowers cannot have greater than two active loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the longest loan term length is 31 days. In the State of Tennessee, borrowers are unable to rollover their loans.
• The fees and charges change for each money lender. The service costs enacted by the lender on a loan are not considered interest. The service fees apply to every $100 borrowed and can range from 11% up to 15%.
• An interest rate must be mutually settled upon. APR can range up to 369%.

Will Payday Lenders in Knoxville, Tennessee, Perform Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we partner with will complete a credit check on you, but, even if you possess no credit or less than optimal credit, you might still be eligible for a loan given that you can prove that you are able to pay back the loan. Lenders are generally unbothered by your credit history if you provide proof of income and a strategy to repay the loan.

Lenders will conduct a soft credit check, which will have no impact on your credit score. This is only to get an idea of your credit history and general information.

A hard credit inquiry, alternatively, requires your explicit consent. These credit inquiries are performed for a plethora of purposes, including mortgages, credit card applications, and more.

You might still be approved for a payday loan with poor credit in Knoxville, TN, provided that you have proof of repayment.

So, when you request a loan, whether it is in person or online, ensure that you have your income information available and any other documents proving that you can pay back the loan. The more proof you provide, the better chance you are to be approved.

When Will I Receive My Cash in Knoxville, Tennessee?

When you get your cash truly relies on the lender as some lenders offer same-day payday advance loans, which means you will receive your cash advance loan on the same day you apply, as long as you're approved.

Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not receive your money until Monday.

If you're needing a same-day paycheck advance loan in Knoxville, Tennessee, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should apply earlier than that if able, as it will increase the likelihood that you receive your deposit on the same day that you apply.

One additional consideration that you should know is despite if the lender grants your loan request and posts the funds to your checking account, sometimes the bank won't release that funds immediately. It's paramount that you let your bank know that you plan to get a payday advance loan, so they might make an exception in releasing the money earlier.

On the whole, it's wise to prepare ahead of time to get your deposit on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Working With Us

If you possess bad credit or no credit and are searching to secure a cash advance loan, think about applying with us, as you usually have a better chance of approval.

We partner with hundreds of different lenders who provide their services online. Frequently you will receive your cash on the following business day so ensure that you plan accordingly.

However, you can always find the closest payday advance loan store to you and apply in person to increase the chances of receiving your funds on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may require proof of address, so bring a utility bill to the store as well.

To find the nearest paycheck advance loan storefront, please refer to the list below and locate your city.

Payday Loan Direct Lender Companies in Knoxville, TN

Below you will find a list of payday loan companies offering their services in Knoxville, Tennessee. If you can't find a lender near your location in Knoxville, consider applying in a nearby city in Tennessee. Alternatively, you can apply online on our website and get a decision almost instantly.