If you're wondering, "What is a flex loan?" our helpful guide will give you all the information you need. A flex loan, or line of credit, provides access to funds on demand. It allows you to continuously borrow money as long as you pay off what you borrow.

In this guide from Tennessee Title Loans, Inc., we will explain the Tennessee flex loan definition and provide every detail you need to know before applying. We will also explain the process for getting approved and how to use it to fund emergencies in less than one business day.

What Is A Flex Loan?

A flex loan is a mix of a title loan and a personal loan. It can help in financial emergencies because it provides security when necessary without requiring you to fill out loan paperwork again.

It’s also called a line of credit loan and works like a personal line of credit: providing access to cash whenever you need it. The borrowed money becomes available again once you repay it, so you will always have access to your emergency line of credit, just make sure to repay the amount you borrowed first!

This loan’s flexibility makes it an excellent financing option when faced with urgent emergencies!

How Can A Flex Loan Help With Financial Emergencies?

Those seeking loans might find that a flex loan is a quick and simple option to address a financial emergency. A flex loan allows you to borrow only the amount needed for an urgent situation. At Tennessee Title Loans, Inc., you can borrow up to $4,000 for a financial emergency. However, you should avoid borrowing more than necessary for an unforeseen event.

Flex loans let you withdraw any amount at any time, if you've repaid a previous amount on time and in full. This makes it a good choice for a one-time emergency or recurring needs. If you think you'll have to pay a second unexpected bill soon, a line of credit loan can offer ongoing financial support.

The following are some financial emergencies you can afford with Tennessee flex loans:

• Overdue bills (rent, mortgage payments, or utility bills)
• Debt payments you cannot afford (car loans, credit card debt, or student loans)
• Medical bills
• Home or auto repairs
• Unexpected travel costs
• Veterinarian bills

Benefits Of A Flex Loan

Line of credit loans in Tennessee offer quick emergency financing for urgent expenses. When an emergency occurs that you can't afford, flex loans can help those who can't get approved for traditional bank loans. You can borrow quickly and continue borrowing as long as you repay everything on time.

Here are some of the benefits of flex loans with Tennessee Title Loans, Inc.:

• Quick access to funds – Get approved the same day you apply. The whole process can take less than 30 minutes!
• Flexible borrowing – Borrow as much as you need up to the credit limit. Repay the amount you borrowed to reload the funds and borrow again.
• All credit types accepted – Get approved with bad or nonexistent credit. Use collateral to secure the loan and prevent bad credit from affecting your ability to borrow.
• Repay the loan online – No need to come into our store to repay what you borrowed. Use our online repayment platform to handle paying back what you owe easily.

What Are The Required Items For Tennessee Flex Loans?

Does a flex loan in Tennessee sound like the right financing option for you? If so, you can get started today for fast loan approval to begin paying off your financial emergencies. Before getting started, you should know about the requirements you will need to meet,

Thankfully, we have simple eligibility requirements. You will only need four required items to get approved:

• A state-issued photo ID that displays your full name and age
• A lien-free vehicle title in your name
• Your vehicle for a quick inspection
• Your most recent pay stub to prove your income

As long as you have these four items, you can begin and complete the approval process today!

How Does The Flex Loan Process Work?

Collect the required items before beginning the process. Once you have them, you can easily start online with our loan form. You can fill out this form in less than five minutes before receiving a phone call from a loan specialist. They will explain how you can get approved in person in less than 30 minutes!

Here are the steps involved in getting approved for a flex loan:

• Submit your basic information through our online inquiry form
• Speak to a loan representative over the phone about flex loan terms
• Visit the nearest Tennessee store location for required item verification
• Have your vehicle inspected for its value
• Complete the flex loan process by signing the loan agreement
• Receive your emergency cash later that day or by the next business day

FAQs About Flex Loans

How much can you borrow with a flex loan?

Your limit can be up to $4,000. How high your limit goes depends on your income level and vehicle value. We will inspect your car’s age, make, model, condition, and mileage to determine how much it is worth.

How does flex loan repayment work?

The repayment process is flexible, allowing you to repay how you see fit. You can pay it off a little bit at a time, or make the full repayment at once. Remember, you will need to pay off the full amount with interest before borrowing from your credit line again.

Does your credit score affect flex loan approval?

While the value of your flex loan can change based on your credit score, it will not prevent you from getting approved. You can get flex loans for bad credit.

Borrow Flex Loans In Tennessee – Receive Up To $4,000 Today!

Don’t wait to tackle your financial emergency. Apply for a Tennessee flex loan today and access up to $4,000 quickly and easily. Begin the process online with Tennessee Title Loans, Inc. by filling out our online contact form. Visit a Tennessee store location today to get approved in less than 30 minutes!

 

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