Payday Loans in Union City, Tennessee

Events happen, and we often find ourselves in a situation where we must pay for some unforeseen expenses. Consider submitting an application for a payday loan in Union City, TN, to see if you are eligible.

The loan application process is fast and painless. To be qualified, you have to satisfy a couple of general requirements.

What is a Payday Advance Loan? What Can It Be Used For?

A payday advance loan is where the borrower will get a petite amount of funds on a short-term basis. This is deemed to be an unsecured personal loan because no collateral is needed.

When unexpected bills arise, such as past due rent or utility payments, car fixes, health or vet bills, and so on, individuals commonly turn to paycheck advance loans.

Cash Advance Loan Criteria In Union City, Tennessee

In Union City, TN, payday loan borrowers must satisfy a few requirements to qualify for a loan.

The borrower must:

• Prove that they reside in Union City, Tennessee
• Must be 18 years old
• Receive an income that they can provide proof of being at least $1,000 per month
• Give active contact information including phone number and email address
• Give their social security number

If a borrower does not meet the above criteria, they will immediately be denied a paycheck advance loan. Make sure you can provide the documentation needed when applying for a loan.

Laws and Regulations Regarding Cash Advance Loans in Union City, Tennessee

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

• A single money lender cannot extend a loan greater than $600. Borrowers are not allowed to take out greater than two outstanding loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Tennessee, borrowers are not allowed to rollover their loans.
• The fees and charges are different for each loan lender. The service costs charged by lenders on each loan or transaction do not fall under interest. The service fees apply to each $100 loaned and can vary between 11-15%.
• An interest rate must be mutually settled upon. APR can range up to 369%.

Will Payday Lenders in Union City, Tennessee, Perform Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we partner with will perform a credit check on you, still, even if you have no credit or less than optimal credit, you may still be approved for a loan provided you can prove that you can repay the loan. Lenders are generally unconcerned about your credit if you have proof of income and a strategy to repay the loan.

Lenders will use a soft credit inquiry, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit pull, alternatively, requires your explicit consent. These credit inquiries are utilized for a plethora of purposes, including mortgages, credit cards, and more.

You can still be approved for a paycheck advance loan with bad credit in Union City, Tennessee, as long as you have proof of repayment.

Therefore, when you apply for a loan, whether it is in person or online, double check that you have your income information at hand and any other documents showing that you can repay the loan. The more proof you possess, the better chance you are to be approved.

When Will I See My Money in Union City, Tennessee?

When you see your funds actually depends on your lender as some lenders offer same-day cash advance loans, which means you will get your cash advance loan on the same day you apply, as long as you get an approval.

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

If you're needing a same-day cash advance loan in Union City, Tennessee, you will need to make sure you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will boost the likelihood that you receive your funds on the day that you apply.

One more factor that you should be aware of is even if the lender approves your application and posts the funds to your bank, occasionally the bank won't release that deposit right away. It's vital that you let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the funds earlier.

Overall, it's wise to prepare in advance to get cash on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.

Consider Borrowing From PaydayLoanRadar

If you possess bad credit or no credit and are looking to secure a paycheck advance loan, think about applying through us, as you probably have a better chance of approval.

We work with more than one hundred different lenders who provide their services online. Often you will receive your money on the next business day so ensure that you plan appropriately.

However, you can always locate the nearest cash advance loan storefront to you and apply in person to increase the chances of seeing your loan on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may ask for proof of address, so bring a utility bill to the store too.

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

Payday Loan Direct Lender Companies in Union City, TN

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