Payday loans in Memphis, TN
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Memphis, TN.
The median household in Memphis earns $51,736 a year, 26% below the Tennessee median of $69,595. About 23% of residents live below the federal poverty line, and 55.1% of households rent their home. When an unexpected bill hits before payday, Memphis residents can request $100 to $1,000 online in minutes.
Tennessee law that applies in Memphis
| Maximum loan | A lender (and related persons) may hold no more than two of your checks at once, with a total face value of no more than $500. |
|---|---|
| Fee cap | The fee may not exceed 15% of the face amount of the check. |
| Rollovers | Not allowed. |
| Loans at once | You may have no more than three payday loans outstanding at once, totalling no more than $500. |
Full rules with statute citations: Payday Loans in Tennessee. Cities in Tennessee cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a payday loan in Memphis
Most Memphis applicants can finish in one sitting if they have these ready:
- Be 18 or older (19 in some states) and a US resident
- A government-issued photo ID
- A steady source of income — a job, benefits or self-employment
- An active checking account in your name for the deposit
- A working phone number and email address
Popular loan amounts in Memphis
What Memphis borrowers use it for
keep getting to work while the shop fixes it
Rent duecover a short gap before payday
Holiday expensesgifts and travel without maxing a card
Moving costsdeposits, trucks and first-week expenses
Loans for your situation
How to get a payday loan in Memphis
- Pick an amount and fill out the short form (about 3 minutes).
- We share your request with lenders in our network that serve Tennessee.
- If a lender approves you, you'll see the fee, APR and due date before you sign.
- Funds are deposited to your bank account, often the next business day.
Estimate your cost
How much will I repay?
Tennessee does not set a single per-$100 fee cap for this product; check the lender's disclosure. $15 per $100 is shown as an example.
Estimate only. Your lender shows your exact cost before you sign.
Banks and credit unions in the area
Banks with branches in Memphis
124 FDIC-insured bank branches from 31 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Regions Bank | 20 | 6200 Poplar Ave, Memphis 38119 |
| First Horizon Bank | 16 | 165 Madison Ave, Memphis 38103 |
| Truist Bank | 10 | 1895 Union Ave, Memphis 38104 |
| Bank of America, National Association | 7 | 3945 Park Ave, Memphis 38111 |
| Pinnacle Bank | 7 | 4445 Poplar Ave, Memphis 38117 |
| Independent Bank | 6 | 5050 Poplar Avenue, Memphis 38157 |
| The Huntington National Bank | 6 | 6363 Poplar Ave, Memphis 38119 |
| Simmons Bank | 5 | 5699 Poplar Ave, Memphis 38119 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Memphis
70 credit-union locations from 36 credit unions.
| Credit union | Location |
|---|---|
| Orion | 3155 Millbranch Rd, Memphis 38116 |
| U. T. | 910 Madison Ave, Memphis 38103 |
| L G & W | 1616 Whitten Rd, Memphis 38134 |
| Memphis Municipal Employees | 577 Dr Ml King Jr Ave, Memphis 38126 |
| Fedex Employees Credit Association | 3670 Hacks Cross Rd, Memphis 38125 |
| Firefighters First | 5150 Stage Rd Ste 102, Memphis 38134 |
| First South Financial | 3731 Austin Peay Hwy, Memphis 38128 |
| Hope | 1451 Madison Ave, Memphis 38104 |
| Memphis City Employees | 2608 Avery Ave, Memphis 38112 |
| Southern Security | 3183 Poplar Ave, Memphis 38111 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Shelby County · Personal Loans in Memphis · Title Loans in Memphis
Frequently asked questions
Can I get a payday loan in Memphis, TN?
Payday loans (deferred presentment services) are legal in Tennessee from lenders licensed by TDFI under the Deferred Presentment Services Act, Tenn. You can request one online from Memphis through our network; approval and terms are set by the lender.
How much can I borrow with a payday loan in Memphis?
A lender (and related persons) may hold no more than two of your checks at once, with a total face value of no more than $500.
How fast can I get a payday loan in Memphis?
The form takes about three minutes and many lenders decide within minutes. If you're approved and sign before the lender's cutoff, funds are often deposited the next business day.
Do payday loans affect your credit score?
Usually only a little, if at all. Because many payday lenders don't use a traditional hard credit pull and often don't report to the major bureaus, a payday loan repaid on time typically has little effect on your score. A balance that goes unpaid and reaches collections could hurt it, so borrow an amount you can repay on your due date. Memphis residents can see their options with our 3-minute form.
Do payday loans show up on your credit report?
Many payday lenders do not report regular, on-time payments to the three major credit bureaus, so the loan often doesn't appear on a standard credit report. Some lenders and specialty bureaus do track short-term loans, and an unpaid balance sent to collections can be reported. Your lender explains its reporting policy in the loan agreement. Ready to compare offers in Memphis? Our form takes about 3 minutes.
What is a payday advance loan?
A payday advance loan is another name for a payday loan: a short-term advance on your next paycheck. You borrow a small amount and repay it, plus a fee, when you're next paid. The process is quick because lenders look mainly at your income and checking account. Memphis residents can request a payday advance online through our network in about 3 minutes.
Is a payday loan secured or unsecured?
A payday loan is an unsecured loan. You don't put up a car, home or other property as collateral. Instead, lenders base their decision mainly on your income and checking account, and repayment is usually scheduled from that account on your due date. That keeps the process quick, since there's nothing to appraise. Memphis residents can see if they qualify in about 3 minutes.
Do payday lenders in Memphis check your credit?
Most payday lenders check something, but it often isn't a traditional credit report. Many focus on income and banking history and may use alternative credit data or a soft check instead of a hard pull from the major bureaus. Each lender sets its own process and will tell you what it reviews. Submitting our form is free, and you can see if you qualify in about 3 minutes.
Do I need to visit a store in Memphis?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.