Legal Status



Tenn. Code Ann. 45-17-101 et seq.

Loan Terms

Maximum Loan Amount: 500

Loan Term: 31

Finance Charge for 14-day $100 Loan: 17.65

APR for 14-day $100 Loan: 460%

Debt Limits

Maximum Number of Outstanding Loans at One Time: Maximum of $500 and two outstanding loans at a time from one lender. Cannot have more than 3 total. Only requirement, however, is to ask the lendee if they have more loans. Tenn. Code Ann. §§ 45-17-112

Rollovers Permitted: No. Tenn. Code Ann. §§ 45-17-112

Cooling-off Period: None listed.

Repayment Plan: Silent