What are short-term loans?

Short-term loans are types of financial products designed to help individuals cover urgent expenses. They are typically small amounts of money borrowed with the expectation of repayment in a short period, usually within a few weeks to a few months. Common types of short-term loans include short-term loans, same-day loans, and cash advances.

Can I get a short-term loan with bad credit?

Yes, individuals with bad credit can still qualify for short-term loans. Many lenders specializing in these loans focus less on credit scores and more on your ability to repay the loan. However, the interest rates on such loans may be higher to offset the risk taken by the lender. It's important to carefully assess your repayment ability before taking a bad-credit loan.

How do short-term loans work?

Short-term loans are short-term loans intended to be paid back on the borrower's next payday. They can be a quick solution for urgent financial needs but often come with high interest rates and fees. Borrowers are required to repay the loan in full when they receive their next paycheck, making it crucial to plan for repayment to avoid additional fees.

What is a same-day loan?

A same-day loan is a type of short-term loan that allows borrowers to receive funds on the same day they apply. These loans are beneficial for emergencies when immediate cash is needed. Approval processes are usually swift, with requirements varying by lender. It's essential to review the terms and conditions before proceeding with a same-day loan.

What are the risks of short-term loans?

While short-term loans can be helpful for immediate financial needs, they come with risks such as high interest rates and fees, which can lead to a cycle of debt if not managed wisely. Borrowers should ensure they can repay the loan by the due date and consider alternative funding options if possible. Failure to repay on time can negatively impact credit scores and lead to additional financial difficulties.

How much can I borrow with a short-term loan?

The amount you can borrow with a short-term loan varies by lender and your financial situation. Generally, short-term loans range from a few hundred to a few thousand dollars. It's crucial to borrow only what you need and can repay gracefully to avoid excessive debt.

What should I consider before applying for a short-term loan?

Before applying for a short-term loan, evaluate your financial situation to ensure you can afford the loan repayment. Compare different lenders for interest rates, fees, and terms. Read the fine print carefully and avoid lenders with hidden charges. Finally, consider whether alternative funding sources, like borrowing from friends, family, or using savings, can better meet your needs.

Fast & Easy Best Online Short-term Loans in Knoxville, TN

Best Online Short-term Loans in Knoxville

American Cash Advance

Loan agency

5.00

4 reviews

Apply Online View Details

Address: 6322 Chapman Hwy, Knoxville, TN 37920

Today's Business Hours: 10:00 AM - 6:00 PM

Phone Number: +1 (865) 609-0330

Website: americancashadvanceinc.com

Services:

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World Finance

Loan agency

5.00

10 reviews

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Address: 8079 Kingston Pike L, Knoxville, TN 37919

Today's Business Hours: 9:00 AM - 5:30 PM

Phone Number: +1 (865) 560-9268

Website: loansbyworld.com/locations/tennessee/knoxville/37919/839

Services:

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Fast Cash Plus

Check cash

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Address: 5100 Clinton Hwy, Knoxville, TN 37912

Phone Number: +1 (865) 281-0180

Website: fastcash24.club

Cash Now Advance

Loan agency

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Address: 4456 Western Ave, Knoxville, TN 37921

Today's Business Hours: 10:00 AM - 6:00 PM

Phone Number: +1 (865) 524-8310

Website: checkcashloans.co

City & County Check Center

Loan agency

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Address: 450 N Cedar Bluff Rd, Knoxville, TN 37923

Today's Business Hours: 10:00 AM - 6:00 PM

Phone Number: +1 (865) 690-4322

Mariner Finance

Loan agency

4.90

10 reviews

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Address: 2435 Callahan Dr, Knoxville, TN 37912

Today's Business Hours: 9:00 AM - 5:00 PM

Phone Number: +1 (865) 512-2233

Website: marinerfinance.com/locations/tennessee/mariner-finance-location-in-knoxville-tn

Services:

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Mariner Finance

Loan agency

4.80

10 reviews

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Address: 8078 Kingston Pike Ste. 114, Knoxville, TN 37919

Today's Business Hours: 9:00 AM - 5:00 PM

Phone Number: +1 (865) 357-1100

Website: marinerfinance.com/locations/tennessee/mariner-finance-location-west-knoxville

Services:

Advance America

Financial institution

4.80

21 reviews

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Address: 4222 Asheville Hwy, Knoxville, TN 37914

Today's Business Hours: 10:00 AM - 6:00 PM

Phone Number: +1 (865) 633-4924

Website: advanceamerica.net/store-locations/tennessee/4222-asheville-hwy-knoxville-37914

Services:

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Mariner Finance

Loan agency

4.60

10 reviews

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Address: 4848 Harvest Mill Way, Knoxville, TN 37918

Today's Business Hours: 9:00 AM - 5:00 PM

Phone Number: +1 (865) 688-4144

Website: marinerfinance.com/locations/tennessee/mariner-finance-location-in-knoxville-tn-harvest-mill

Services:

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Alternatives to Short-term Loans in Knoxville

Short-term loans are financial products designed to offer quick access to funds for a brief period. Personal loans are often unsecured, require minimal documentation, and can be used for various purposes, but typically come with higher interest rates due to the lack of collateral. Installment loans provide borrowers with a fixed amount of money that is repaid over scheduled payments, offering the predictability of fixed rates but often requiring a good credit score. Title loans, on the other hand, are secured loans where borrowers use their vehicle's title as collateral; they're appealing for their speed and accessibility but can be risky due to the potential loss of the asset upon default.

Best Personal Loan

First Choice Lending Services, LLC

5.00

74 reviews

Short-term personal loans are designed for individuals who need quick access to funds and are typically unsecured. They are often characterized by higher interest rates and shorter repayment periods compared to traditional loans. Online lenders and financial institutions offer these loans with varying terms and conditions. The best personal loans tend to have flexible repayment options, low-interest rates, and minimal fees, making them suitable for borrowers who have a good credit score and need smaller amounts of money for immediate personal expenses.

Best Installment Loan

GENESIS REAL ESTATE TITLE

5.00

10 reviews

Installment loans are another type of short-term loan that allows borrowers to receive a lump sum upfront to be repaid in fixed, regular payments over a specified period. These loans are ideal for people who need a structured repayment plan and prefer the consistency of fixed monthly payments. The best installment loans often come with competitive interest rates and flexible terms that cater to a borrower's financial situation, making them a viable option for consolidating debt or covering significant expenses like car repairs or education costs.

Best Car Title Loan

Tennessee Title Loans, Inc.

5.00

25 reviews

Title loans are a type of secured short-term loan where the borrower's vehicle title is used as collateral. The best title loans are characterized by their quick approval process and minimal credit requirements, making them accessible for those with poor credit histories. Borrowers can continue to use their vehicle while repaying the loan, though failure to repay can result in the lender repossessing it. Title loans typically come with higher interest rates, and because they are high-risk, they should be used cautiously. It's essential to understand the terms and fee structures before proceeding to ensure it aligns with one's ability to repay.

Loan Regulations in Tennessee

Tennessee’s short-term loan regulations have been established to ensure fair lending practices while providing consumers with quick access to cash. The state allows a maximum short-term loan amount of $500. The term of these loans can extend up to 31 days, offering a short-term financial solution for borrowers. When it comes to fees and interest rates, Tennessee permits payday lenders to charge a maximum fee of 15% of the total principal amount. Additionally, there are no restrictions on the annual percentage rates (APRs) that lenders can charge. To qualify for a short-term loan in Tennessee, borrowers generally need to provide proof of income, a valid bank account, and identification. These regulations are designed to balance the immediate financial needs of borrowers with consumer protection.

Short-Term Loan Calculator

Loan Amount:

Loan Term:

day(s)

Interest Rate:

Origination Fee:

Estimated Payment

$327.12

Total Principal Paid: $300.00

Financial Charge: $27.12

Loan Term: 150 day(s)

APR: 22.00%

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Where to Use Short-term Loan

If you've taken out a short-term loan, it can be used across various local service providers to address urgent needs. This financial assistance can cover medical expenses, car repairs, legal fees, funeral costs, and appliance services. Utilizing these local resources ensures timely support for essential services when immediate funds are necessary.

Adventure Sports Facility

9305 Kingston Pike, Knoxville, TN 37922

+1 (865) 290-1196

Car Accessories

1006 Dutch Valley Drive, Knoxville, TN 37918

+1 (865) 688-9747

Car Wash

1501 Everett Road, Knoxville, TN 37932

Club & Association

8711 Carriage House Way, Knoxville, TN 37923

+1 (865) 249-8400

College/University

901 Knoxville College Drive, Knoxville, TN 37921

+1 (865) 524-6525

Community Center

Knoxville, TN 37912

+1 (865) 686-3200

Dentist

6230 Highland Place Way, Knoxville, TN 37919

+1 (865) 584-6163

Doctor

6108 Kingston Pike, Knoxville, TN 37919

+1 (865) 539-9299

Fitness Club & Center

6450 Kingston Pike, Knoxville, TN 37919

+1 (865) 474-9019

Government Office

1400 Loraine Street, Knoxville, TN 37909

+1 (865) 215-6108

Library

2901 Ocoee Trail, Knoxville, TN 37917

+1 (865) 525-7036

Motel

722 Brakebill Road, Knoxville, TN 37924

Movie Theater

200 North Peters Road, Knoxville, TN 37923

+1 (865) 691-0948

Museum

516 North Beaman Street, Knoxville, TN 37914

+1 (865) 594-1494

Pharmacy

6908 Hospitality Circle, Knoxville, TN 37909

+1 (865) 531-2580

Table of Content

Best Online Short-term Loans in Knoxville
Alternatives to Short-term Loans in Knoxville
Loan Regulations in Tennessee
Short-Term Loan Calculator
Where to Use Short-term Loan

Best Online Short-term Loans in Knoxville

Best Online Short-term Loans in Knoxville

Alternatives to Short-term Loans in Knoxville

Best Personal Loan

Best Installment Loan

Best Car Title Loan

Loan Regulations in Tennessee

Short-Term Loan Calculator

Where to Use Short-term Loan

Table of Content

Short-term Loans by State

FAQ

What are short-term loans?

Can I get a short-term loan with bad credit?

How do short-term loans work?

What is a same-day loan?

What are the risks of short-term loans?

How much can I borrow with a short-term loan?

What should I consider before applying for a short-term loan?

Find Short-term Loans Near Me

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