How Does an Tennessee Online Line of Credit Work?
Simple Process
Apply in minutes with our
quick online application
Quick Approvals
Submit application and
get approved.
Instant Funding*
Money credited into debit card
or bank account - instantly. *Bank participation
required.
An Advance Financial Line of Credit Loan in Tennessee gives you quick access to cash when you need it. In Tennessee, we offer a Line of Credit Loan from $25 up to $4,000. You can apply using our quick, online application or visit any of our 100+ stores across Tennessee for a fast, paperless approval.
An Advance Financial Line of Credit is the perfect alternative to other loans. No matter where you live in Tennessee, from Bristol to Millington and everywhere in between, you can apply for a Line of Credit Loan and receive cash the same day*. A Line of Credit Loan puts you in complete control. You can use your money whenever you need it. There is no prepayment penalty if you pay off your loan early. Apply now and get approved in minutes.
*Bank participation required
Flexible Loans That Fit Your Ongoing Needs
Flexible Payments
Fixed Rate
Access Your Cash Anywhere
Line of Credit Loan FAQs - Tennessee
What is an online line of credit loan?
It is an unsecured open line of credit and comes with credit limits. You will only be charged with interest and fees only for the amount you withdraw.
What do I need to get an online line of credit in Tennessee?
- Photo ID
- Proof of income
How does a line of credit compare to an installment loan?
A line of credit is an open-ended extension of credit. You will be approved for a credit limit and you can borrow money up to the maximum limit. In the case of an installment loan, you are approved for a lump sum amount and it must be paid back in equal payments spread out over several months.
When will my payments be due?
Your due dates will be bi-weekly, semi-monthly or monthly.
Line of Credit Rates and Terms in Tennessee
Advance Financial loan agreements are governed by the applicable laws of the State of Tennessee.
Maximum Amount
The maximum Line of Credit amount at Advance Financial is $4,000.
Loan Terms
You can pay back your Line of Credit anytime and you only pay interest and fees for the amount of time you keep the money.
How much can I receive on a Line of Credit?
A withdrawal from your Line of Credit is called a Cash Advance. Cash Advances can be requested from $10 up to your available Credit Limit.
How much does it cost?
Tennessee Interest Rates and Interest Charges
| APR* for Cash Advances | 279.50% |
| Paying Interest | You will be charged periodic interest 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 or installments by amount borrowed and loan length.
| 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 or installments prior to payment in full. This is only an example. We do not require two minimum payments on your payday prior to payment in full.
| 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 |
To See Your State's Licenses
View LicenseDisclaimers
Lines of credit from $25 to $4,000, subject to underwriting and approval and are governed by the applicable laws of the state of Tennessee.
This is an expensive form of credit. Only borrow what you can afford to pay back. There is no grace period. Interest and fees will be charged every day you keep the money. We recommend you pay more than the minimum payment due. Making only the minimum payment due will result in more interest and fees and take longer to pay your balance.