Payday Loans in Prospect, Tennessee

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

Company nameAddressZip codePhone number
3D Financial 123 West Bockman Way, Sparta, TN 38583 +1 (931) 837 - 1001
Church's Tire and Service Center Inc. 511 S Cedar Ave, South Pittsburg, TN 37380 +1 (423) 837 - 6701
American Cash Advance & Title Loans 6322 Chapman Hwy, Knoxville, TN 37920 +1 (865) 609 - 0330
Wayne County Bank 110 Public Square W, Waynesboro, TN 38485 +1 (931) 722 - 5555
Mid-Town Loans 1927 Decherd Blvd, Decherd, TN 37324 +1 (931) 962 - 1240
Republic Finance 2250 Wilma Rudolph Blvd Suite L, Clarksville, TN 37040 +1 (931) 905 - 2244
First State Bank of the Southeast 925 Main St, New Tazewell, TN 37825 +1 (423) 626 - 6112
Service Loan South 106 Elm St, Shelbyville, TN 37160 +1 (931) 773 - 0121
Check Advance 768 S Jefferson Ave g, Cookeville, TN 38501 +1 (931) 372 - 7400
Tennessee Title Loans, Inc. 1440 Fort Campbell Blvd, Clarksville, TN 37042 +1 (931) 647 - 3305

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Prospect, TN, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Hendersonville, TN, Payday Loans in Jackson, TN, Short-term Loans in Johnson City, TN, Payday Loans in Kingsport, TN, 24-Hour Loan in Knoxville, TN, Payday Loans in La Vergne, TN, No Credit Check Loans in Lebanon, TN and Guaranteed Loans in Memphis, 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 Prospect, TN.

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

38477

Are Payday Loans Legal In Prospect, 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

Prospect, TN payday loan calculator

Understanding Payday Loans in Prospect, Tennessee

Payday loans are a type of short-term loan that’s typically used by individuals who find themselves in a financial bind. These loans are designed to help people access small amounts of cash quickly and easily. In Prospect, Tennessee, payday loans are legal, although there are specific rules and regulations that lenders must follow.

How Do Payday Loans Work?

Payday loans are typically offered by lenders who specialize in providing short-term loans to individuals who need quick access to cash. These loans are typically unsecured and are designed to be repaid in a single lump sum payment, usually within two weeks to a month of the loan being issued.

In order to qualify for a payday loan, borrowers must typically have a steady income and a bank account. The application process is typically quick and easy, with many lenders offering online applications. Once approved, borrowers can usually receive their funds within 24 hours.

What are the Requirements for a Payday Loan in Prospect, Tennessee?

As previously stated, there are specific rules and regulations that lenders who provide payday loans in Tennessee must follow. These regulations are designed to protect consumers and ensure that lenders operate fairly and transparently.

Some of the requirements for payday loan borrowers in Prospect, Tennessee include:

  • Borrowers must be at least 18 years of age
  • Borrowers must have a valid government-issued ID
  • Borrowers must have a steady income
  • Borrowers must have an active bank account
  • Borrowers must provide proof of income
  • Payday loans cannot exceed $425
  • Payday loans cannot have a term longer than 31 days

It’s important to note that lenders may have additional requirements beyond those listed above. Before applying for a payday loan, borrowers should check with their chosen lender to verify their specific requirements.

The Pros and Cons of Payday Loans

While payday loans can be useful for individuals in need of quick access to cash, they’re not without their downsides. Here are some of the pros and cons of payday loans:

Pros:

  • Quick and easy cash access
  • Minimal requirements for approval
  • Can be useful for emergency expenses

Cons:

  • High interest rates
  • Short repayment terms
  • Can lead to a cycle of debt

Interesting Facts and Statistics

According to a study by the Tennessee Department of Financial Institutions, the average payday loan borrower in Tennessee takes out 9 loans per year, with an average loan amount of $290. Additionally, the interest rates on these loans can be as high as 460%.

Apply Now

If you’re in need of a payday loan in Prospect, Tennessee, TheGuaranteedLoans can help connect you with potential lenders. Remember, we are a connecter service and not a direct lender. Our mission is to help you find the best loan offer available to you so that you can get the cash you need quickly and easily.

Fill out our online application today to start the process. Our application process is quick and easy, and you can typically receive your funds within 24 hours.

F.A.Q.

Can I be charged additional fees or penalties if I am unable to repay my payday loan on time in Prospect, Tennessee?

Yes, you may be charged additional fees or penalties if you are unable to repay your payday loan on time in Prospect, Tennessee. It is important to carefully review the terms and conditions of your loan agreement to understand any potential fees or penalties.

Is there a minimum amount that I can borrow with a payday loan in Prospect, Tennessee?

Yes, the minimum amount that you can borrow with a payday loan in Prospect, Tennessee is $100.