Payday Loans in Elkton, Tennessee

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No payday loan companies in Elkton, TN. Consider companies in other cities:

Company nameAddressZip codePhone number
Check Into Cash 2926 Lamar Ave #109, Memphis, TN 38114 +1 (901) 744 - 3230
Advance America 2123 E Broadway Ave, Maryville, TN 37804 +1 (865) 681 - 3155
Speedee Cash 558 W Church St, Lexington, TN 38351 +1 (731) 967 - 1963
Cash Express 525 US-51, Covington, TN 38019 +1 (901) 475 - 0174
Cash Express 2226 W Andrew Johnson Hwy, Morristown, TN 37814 +1 (423) 581 - 4114
Regions Bank 1028 E Main St, Brownsville, TN 38012 +1 (731) 772 - 7220
Loretto Check Cashing & Title 100 S Military St, Loretto, TN 38469 +1 (931) 853 - 5626
Credit Central 1421 E Magnolia Ave, Knoxville, TN 37917 +1 (865) 523 - 1993
CB&S Bank 771 N Ellington Pkwy, Lewisburg, TN 37091 +1 (931) 359 - 5999
Advance Financial 2304 Carmack Blvd, Columbia, TN 38401 +1 (931) 388 - 4017

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Elkton, TN, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Smyrna, TN, No Credit Check Loans in Spring Hill, TN, Quick Loan in Brentwood, TN, Quick Loan in Chattanooga, TN, Payday Loans in Clarksville, TN, Guaranteed Loans in Cleveland, TN, Same Day Loans in Collierville, TN and Payday Loan Companies in Columbia, TN. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Elkton, TN.

Beautiful sights of Elkton, TN

Payday Loans Available in Elkton, TN By The Following ZIP Codes:

38455

Are Payday Loans Legal In Elkton, Tennessee?

Loan Rates and Fees, Laws and Regulations in Tennessee.

Legal StatusLegal
Interest Rate (APR, %)460
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges15% of the amount of the check

Elkton, TN payday loan calculator

Payday Loans in Elkton, Tennessee

Are you in need of quick cash to cover an unexpected expense or to tide you over until your next paycheck? If you’re a resident of Elkton, Tennessee, you may be considering a payday loan. In this article, we will discuss the basics of payday loans in Elkton to help you make an informed decision before applying.

What are Payday Loans?

Payday loans are short-term loans that usually range from $100 to $1,500 and are typically due on your next payday. In Tennessee, payday lending is legal, and lenders are regulated by the Tennessee Department of Financial Institutions.

Payday loans can be a useful financial tool for those who need quick access to cash for unexpected expenses. However, it’s essential to understand the risks and drawbacks before applying.

How Do Payday Loans Work?

To apply for a payday loan in Elkton, you will need to provide your personal information, employment and income details, and your bank account information. The lender will use this information to determine if you qualify for a loan, and if so, how much you can borrow.

If you are approved for a loan, you will receive the funds in your bank account. The repayment date is typically on your next payday, and the lender will automatically deduct the loan amount plus fees from your account. If you can’t repay the loan on time, the lender may charge additional fees and interest, which can quickly add up.

What are the Benefits and Risks of Using Payday Loans?

The main benefit of payday loans is that they provide quick access to cash when you need it. Unlike traditional loans, payday lenders don’t typically conduct a credit check, which means that borrowers with poor credit history may still be eligible.

However, payday loans also come with significant risks. Because they are short-term loans with high-interest rates and fees, borrowers often find themselves in a cycle of debt, unable to repay the loan on time and forced to take out additional loans to cover the fees and interest.

Another risk of payday loans is that they can be a target for scams and fraudulent lenders. Always research the lender before applying and make sure they are legitimate and licensed by the Tennessee Department of Financial Institutions.

Interesting Facts and Statistics about Payday Loans in Elkton, Tennessee

  • The average APR for a payday loan in Tennessee is 460%, one of the highest in the United States.
  • In 2019, there were over 1.3 million payday loans issued in Tennessee, totaling $469 million in loans.
  • There are approximately 120 licensed payday lenders in Tennessee.

Apply Now for a Payday Loan in Elkton, Tennessee

If you’re considering a payday loan in Elkton, Tennessee, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and our online application process is fast and easy.

To apply, simply fill out our online application form with your personal and employment information and banking details. We will then forward your application to potential lenders who may be able to offer you a loan.

Remember, however, that payday loans should only be considered as a last resort and that they come with significant risks. Always read the terms and conditions carefully before applying and make sure you understand the fees and repayment terms. Only borrow what you can afford to repay, and if you’re struggling with debt, seek advice from a financial counselor or debt relief agency.

F.A.Q.

How much can I borrow with a payday loan in Elkton, Tennessee?

The maximum amount you can borrow with a payday loan in Elkton, Tennessee is $500, and the maximum loan term is 31 days. However, lenders may offer different loan amounts and terms, so it's important to compare your options carefully before choosing a lender.

What are the interest rates and fees associated with payday loans in Elkton, Tennessee?

The interest rate for payday loans in Elkton, Tennessee is capped at 459% APR, which is significantly higher than the interest rates charged by traditional lenders such as banks and credit unions. Additionally, payday lenders may charge fees for loan origination, application, or other services, so it's important to carefully review the terms and conditions of your loan before accepting it.