working on checklist for payday loan

The Essential Tennessee Payday Loan Requirements Checklist

People who have ever faced an unexpected financial situation understand the stress it causes, so you should have a Tennessee payday loan checklist for a handy reference during hard times. 

Payday loan requirements can differ from state to state and even lender to lender, but the standards in Tennessee are similar across the state. 

Your checklist should have three essential items, plus a couple of others, in case a lender asks. Below are items you should put on the Tennessee payday loan checklist.  

What Are The Requirements For A Tennessee Payday Loan?

A Picture Identification

Lenders will require an official identification issued by the State of Tennessee. That could be a driver's license or regular state identification. However, it must be a picture ID and a government-issued identification to verify your identity. 

Any lender, whether a bank or a payday lender, will require this for any loan. Plus, financial assistance agencies also need it. 

A Pay Stub

Payday lenders in Tennessee don't ask for collateral for a payday loan. Your job is your collateral. They do require that you have a regular job with a paycheck that comes in at specific times, whether it's weekly, bi-weekly, or monthly. 

You must have your most recent pay stub available to ensure the lender you are working with validates your income. This is how they determine how much you can borrow. 

A Blank Check

Payday lenders in Tennessee require a blank check from an active checking account. Plus, the account must be in your name. 

A lot of people question this, but the reasoning is simple. Depending on the lender, your payday loan will likely be deposited into your account. The lender could have it in their agreement to pull payments directly from your account when you get paid. Again, that depends on the lender. 

You must have a checking account to ensure the lender that money can legally be deposited and withdrawn from your account.

A Recent Bank Statement

Some lenders, including some banks and payday lenders, require that you bring your last monthly bank statement, sometimes up to three bank statements covering 90 days, as part of the payday loan requirements. 

Since many opt to get those electronically, you should put printing them out on your Tennessee payday loan checklist.

checklist for payday loan requirements

Referrals From Friends

Some payday lenders will ask for a few personal recommendations as part of the application process. If they ask for this, please have a few relatives and friends' phone numbers and addresses. 

The Advantages Of A Payday Loan

Payday loans have advantages over a traditional bank or financial institution loans. Most lenders allow those with bad credit or no credit to apply. Payday loans typically don't include a credit check, as they are short-term loans designed to be paid off within your next paycheck and provide you with fast emergency cash.

It's easier and quicker to get a payday loan than to seek a loan from a bank. Traditional banks have more extensive paperwork and can make you wait a week or two for a decision. 

Where Do I Go For A Payday Loan?

At Tennessee Title Loans, Inc., we offer payday loans from $100 to $400. Our payday loan requirements are:

  • A driver's license or other state-issued ID
  • Your most recent pay stub
  • A blank check from the active checking account in your name. 

We also require a 30-day bank statement from your checking account. 

How Does The Payday Loan Process Work?

The process for applying for a payday loan with Tenneessee Title Loan, Inc. is straightforward.

  1. Fill out the inquiry form on the website.
  2. Wait for a call from a loan representative from one of the locations closest to you. 
  3. Our loan representative will further explain the process and set up an appointment for you to bring all your required documents into the store. You may also choose to complete the online payday process over the phone.
  4. Once in the store, all of your documents will be verified, and a representative will guide you through the approval process. 
  5. Those who are approved will get money either the same day or the next business day. The in-store process can be done in as little as 30 minutes.

We welcome borrowers from all credit backgrounds, and those with bad credit or no credit can apply. 

man happy with payday loan

Fill Out Our Online Form Today!

See what Tennessee Title Loans Inc. can do to help you get started with a payday loan for an unexpected expense! Our online inquiry form is easy to fill out because it just seeks basic information. It doesn't obligate you to a loan and won't amount to a credit check.

Complete the form and gather the required items on your Tennessee payday loan checklist to get the emergency money you need today!

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.