Flex Loan Rates and Terms in Tennessee
Rates & Terms
Advance Financial loan agreements are governed by the applicable laws of the State of Tennessee.
Maximum Loan Amount
The maximum FLEX Loan amount at Advance Financial $4,000.
Loan Terms
You can pay back your FLEX Loan anytime and you only pay interest and fees for the amount of time you keep the money.
How much can I receive on a FLEX Loan?
You can receive a cash advance starting at $25 up to $4000.
How much does it cost?
Interest Rates and Interest Charges
| APR* for Cash Advances |
279.50%
The APR is based on the Periodic Interest Rate and Customary Fee rate used to compute finance charges on the cash advances. |
| Paying Interest | You will be charged periodic interest and the Customary Fee from the date of each transaction. |
* Annual Percentage Rate: The APR is the cost of your loan expressed as a yearly rate.
| Fees | |
| Annual Fee | None |
| Late Fee | None |
| Penalty Fee | None |
Example Rates & Terms for a Line of Credit
Minimum and Maximum payments by amount borrowed and loan length. These rates and terms are examples for Tennessee only.
| Cash Advance Paid in 7 Days | ||||
| Total Days With Balance | Advance Amount | Total Finance Charge | Pay in Full Amount | Minimum Payment Due |
| 7 | $ 100.00 | $ 5.36 | $ 105.36 | $ 6.86 |
| 7 | $ 200.00 | $ 10.72 | $ 210.72 | $ 13.72 |
| 7 | $ 300.00 | $ 16.08 | $ 316.08 | $ 20.58 |
| 7 | $ 400.00 | $ 21.44 | $ 421.44 | $ 27.44 |
| 7 | $ 500.00 | $ 26.80 | $ 526.80 | $ 34.30 |
| Cash Advance Paid in 14 Days | ||||
| Total Days With Balance | Advance Amount | Total Finance Charge | Pay in Full Amount | Minimum Payment Due |
| 14 | $ 100.00 | $ 10.72 | $ 110.72 | $ 12.22 |
| 14 | $ 200.00 | $ 21.44 | $ 221.44 | $ 24.44 |
| 14 | $ 300.00 | $ 32.16 | $ 332.16 | $ 36.66 |
| 14 | $ 400.00 | $ 42.88 | $ 442.88 | $ 48.88 |
| 14 | $ 500.00 | $ 53.60 | $ 553.60 | $ 61.10 |
The above examples do not include all available loan amounts. The Total Finance Charge includes the Periodic Interest Rate and the Customary Fee.
Payment Example
The example below shows one cash advance with two minimum payments prior to payment in full. This is only an example. We do not require two minimum payments prior to payment in full. This payment example is for Tennessee only.
| Bi-Weekly Pay Cycle, Two Min. Payments Before Pay in Full | ||||||
| Date | Transaction Description | Cash Advance | Payment | Previous Balance | New Balance | Available Credit |
| Loan Date | Line of Credit Approved | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 | $ 500.00 |
| Loan Date | Cash Advance | $ 400.00 | $ 0.00 | $ 0.00 | $ 400.00 | $ 100.00 |
| 1st Pmt. | Min. Payment | $ 0.00 | $ 48.88 | $ 400.00 | $ 394.00 | $ 106.00 |
| 2nd Pmt. | Min. Payment | $ 0.00 | $ 48.15 | $ 394.00 | $ 388.09 | $ 111.91 |
| 3rd Pmt. | Full Payment | $ 0.00 | $ 429.70 | $ 388.09 | $ 0.00 | $ 500.00 |
| Summary | |||
| Total Cash Advance | Total Days With Balance | Total Finance Charge | Total of Payments |
| $ 400.00 | 42 | $ 126.73 | $ 526.73 |
Advance Financial loan agreements are governed by Federal and applicable laws of the State of Tennessee.
