It’s uncommon for traditional banks to offer bad credit line of credit loans, which can make accessing emergency funds difficult. That’s where alternative lenders like Tennessee Title Loans, Inc. can help. Our online line of credit loans are secured by the value of your vehicle, meaning you may qualify even if you have bad or no credit history.

This type of loan may be unfamiliar to many, especially the concept of approval for bad credit borrowers. Read our guide below to learn more about flex loans and how to get approved with poor credit today.

What Is A Line Of Credit Loan?

A line of credit, also known as a flex loan, is an emergency financing option for those who wish to continually borrow cash rather than just get it for a one-time expense. You won’t be given a lump sum of cash right away (unless you request it). Instead, flex loans offer a line of credit you can access whenever you need cash.

At Tennessee Title Loans, Inc., we can offer online line of credit loans of up to $4,000 for set periods of time. As long as you repay what you borrow from the credit line, you can borrow again to fund future emergencies.

Although it differs from other emergency loan options like title loans and payday loans, the requirements are simple, just like for those loans.

What Are The Requirements For Flex Loans?

At Tennessee Title Loans, Inc., we have tried to keep our requirements as simple as possible. We won’t have you digging through old paperwork for paychecks that are months old, or have you fill out countless long-winded forms. You can get through the flex loan process if you’ve got access to just a few items that you should be able to find around the house.

Here are the required items for a line of credit loan:

• Driver’s license or state-issued ID – To borrow a loan in Tennessee, you must be at least 18 years old. You can use your driver’s license to verify your identity with your picture and your age with your date of birth. If you cannot use your driver’s license, you can use other photo IDs, such as your passport or a military service member’s card.
• Lien-free title to your vehicle – This means that there should not be any outstanding financing on your vehicle. If you’re unsure whether you’ve got a lien on your vehicle, talk to the DMV. We cannot offer line of credit loans if you don’t own a vehicle outright. The car title must also be in your name.
• Vehicle – You must be able to provide us with your vehicle for inspection. It is the inspection that determines how much cash will be available to you (if approved). We will look at your car’s age, make, model, condition, mileage, and service history to determine your loan amount.
• Proof of income – You must prove your income, as verifying you can repay the loan is a big part of qualifying. We accept pay stubs to prove your income. If you have alternative income, you will have to call one of our stores to see if they accept it, as it is on a store-by-store basis.

As you can see from this list, a credit score is not required to qualify for a flex loan in Tennessee. That’s because you can get approved for a line of credit with poor credit.

Can You Get Bad Credit Line Of Credit Loans?

When a traditional lender (e.g., a bank) makes a lending decision, they look at your credit score. Your credit score demonstrates how likely you are to meet your loan repayments. If you regularly miss payments on bills or loans, your credit score will naturally be lower. The lender will see you as a risk and is less likely to lend to you.

We do things a little bit differently. Our line of credit loans are secured against your vehicle’s title. Your vehicle’s title will serve as collateral for the loan, providing security in the form of a high-value asset. This is why we may be able to offer you a flex loan if you have bad or no credit. Your loan is secured, giving both you and us confidence in the lending process.

Whether you have good credit, bad credit, or no credit, you can proceed with the flex loan process to borrow cash today.

How To Get Approved For A Line Of Credit In Tennessee

Our flexible line of credit loans is not like traditional bank loans. We understand that many people seeking this type of financing need cash urgently. They can’t afford to wait. This means we won’t have you jumping through countless hoops or waiting too long for a decision. While a traditional bank loan can take weeks to be approved, we can often give you a borrowing decision on the same day.

Here’s the approval process for a line of credit loan:

1. Fill out our online form – Provide your basic information online through our easy request form. You will have to provide your full name, zip code, phone number, email address, and vehicle details. Submit it, and one of the loan representatives from the Tennessee store location closest to you will receive and review it.
2. Speak to us over the phone – The loan agent will call you to explain how flex loans work and answer any questions you have. The representative will help you to decide whether a flex loan may be right for you. If you wish to proceed with the loan inquiry, you’ll be asked to come along to your local branch. Bring your vehicle and all required documents.
3. Get approved in person – Once at our branch, we’ll inspect your documents and your vehicle. The goal of the vehicle inspection is to determine how much it is worth. This will influence how much we may be able to lend you. This process will take less than 30 minutes.
4. Sign the loan agreement – We will let you know right away whether you’ve been approved for a line of credit loan. If you’re happy with the terms of the loan, we’ll ask you to sign a few forms. You can start using your line of credit within one business day. 

While you will be borrowing cash against the value of your vehicle, we won’t keep your vehicle. As long as you keep up with your line of credit repayments, you’re free to keep using your vehicle how you see fit. For a flexible, fast emergency financing option, a line of credit can help. Apply with Tennessee Title Loans, Inc. today!

Bad Credit? No Problem! – Borrow Bad Credit Line Of Credit Loans Today

Do you need fast emergency cash today? If you’ve got a lien-free title to a vehicle and income, you may be approved for a flex loan of up to $4,000, even if you have bad credit. This can provide much-needed access to emergency cash for the duration of your line of credit loan.

The lending process at Tennessee Title Loans, Inc. is quick and easy. You could receive access to cash as soon as today. It all starts by filling in the short online form on this website before visiting us in person to get approved in less than 30 minutes. Visit us today to get a line of credit for emergency needs!

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