things you dont know about payday loans online

5 Things You Don't Know About Payday Loans Online

We all look forward to payday: getting the money we worked so hard for, and then using it for our basic needs. But sometimes, payday doesn’t come soon enough. Your child gets sick and needs medicine, or the car you use for work breaks down. These emergency expenses can ruin your carefully planned budget.

When this happens, you have the option to get fast payday loans online—and it’s much easier and faster than you think, especially through Tennessee Title Loans, Inc. So, if you’ve heard about payday loans before, but didn’t think it was for you, reconsider. There are some things you don’t know about the new way to get payday loans online.

5 Things You Might Not Know About Payday Loans Online

1. The Loan Is Simple

Some people think that taking out a loan is really complicated. But unlike other loans that have more complex structures—amortizations, flexible interest rates, etc.—online payday loans are very straightforward. In fact, you may have done something like it before.

Have you ever told a friend, “Can you spot me some cash? I’m short now, but I can pay you back when I get my salary next week.” Or maybe you asked your boss if you could get an advance. 

Payday loans online work the same way as a cash advance from your next paycheck. You can borrow up to $400, which can cover basic needs like groceries or unexpected expenses until your salary comes in.

2. You Can Get Payday Loans Even With Bad Credit Or No Credit History

Many personal loans require a credit score of at least 700.

However, some people may have no credit score because they have never taken out a loan or a credit card. Others may have a low credit score because of previous financial problems that caused them to miss payments (this was actually very common during the pandemic).

But even with bad credit or no credit history, you can still get payday loans. The only requirement is your latest pay stub and a government-issued ID, and you have an active checking account in your name since you will be using a post-dated check to pay the loan.

3. Payday Loans Online Are Still Very Personalized

Some online transactions can seem very impersonal. You’re just wading through FAQs or talking to a chatbot. But that’s not how Tennessee Title Loans, Inc. works.

We provide personalized customer service at every step. A loan representative helps you through every step of the process—from your first inquiry to the final processing of documents at the branch. You will always have the information and support you need.

Paydya Loans online representative on call with customer with text overlay 5 Things you don’t know about payday loans online

4. You Can Get Your Loan Approved In 30 Minutes

We have created a process that makes borrowing emergency cash fast, simple, and convenient.

You don’t even have to take a leave from work or drive across to the city to find out more about the loan. Just use our form, and a loan representative from the nearest branch will immediately get back to you to explain everything personally. No waiting in line, no putting on hold at a hotline—we go to you.

After talking to the loan representative, you just need to go to the branch to submit the documents. It takes less than 30 minutes for us to verify the documents and finalize the loan amount you are eligible for.

5. Payday Loans Online Have Less Paperwork And Delays

Many banks or lenders will ask for tons of documents and requirements, and then take weeks to approve a loan.

But at Tennessee Title Loans, Inc., our online payday loans have taken out the red tape.  We know that most people take payday loans because they need cash right away. That’s why we have streamlined the application process to remove waiting times and unnecessary paperwork.

We only ask for three things: a recent pay stub, a government-issued ID with a photo, and a post-dated check from an account that is under your name (you will fill this out at the branch).

The online inquiry takes just a few minutes, and the time in the branch takes less than 30 minutes. Once the loan is approved, the money is released ASAP depending on the time of day of the application and your bank.

Combined, you can complete the entire application in less than an hour of your time.

That’s very different from the loan processes of banks.

Find Out More About Payday Loans Online

These are a few of the surprising facts about payday loans online. Many people do not realize all of the benefits of our payday loan process at Tennessee Title Loans, Inc. Do you have other questions or concerns, or do you want to know if you qualify for online payday loans? Contact us and we’ll be happy to help.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.