4 Important Things To Know About Tennessee Flex Loans
If you’ve heard about Tennessee flex loans from Tennessee Title Loans, Inc., you know it’s a convenient and helpful option for borrowing money. Still, there are a few more essential things you should know about it before you make any important decisions.
Firstly, you must understand that the term’ flex loan’ is used interchangeably with ‘line of credit loan.’ Both are the same, so you’ve likely heard of one or the other. Besides that, you should know that the loan has minimal requirements and involves a quick application, approval, and payout process.
Lastly, you must know you can qualify to borrow up to $4,000! Keep reading to dive deeper into the four essential things you should know about flex loans in Tennessee.
What Are Important Things To Know About Tennessee Flex Loans?
Tennessee flex loans are an excellent option for borrowing money. Still, there are a few things you need to know to make an informed decision before applying for one. Here are four essential things to know about those loans:
1. Also Known As A ‘Line Of Credit’ Loan
If you thought Tennessee flex loans sounded familiar, it’s likely because you’ve heard them being called ‘line of credit loans’ instead. People often use the two terms interchangeably, even though they refer to the same loan.
Whichever name you prefer calling them, the loans work by giving approved customers a line of credit with a maximum amount for a set period. As a customer, you can borrow as much as you need within that approved amount.
As you repay the borrowed amount, you can borrow from the same line of credit again if necessary.
Best of all, you can apply for this loan regardless of your credit score. People with good credit or bad credit can continue with the application process if they meet all the other requirements below.
2. Has Minimal Requirements
Another essential thing to know is that Tennessee flex loans have minimal requirements compared to more conventional loans. Here’s what you need to apply:
- Identification: Firstly, you’ll need proof of your identity when applying for a loan. That means providing a form of ID issued by the state or your driver’s license.
- Car title: Next, you’ll need to provide your vehicle’s title. That title must be in your name and lien-free for you to proceed with the application. If the title is in someone else’s name, you’ll want to go to the DMV to transfer it to your name before applying.
- Your car: You must also bring your vehicle in for inspection. A representative will perform that process, and it won’t take too much of your time.
- Proof of income: Lastly, you’ll also need to provide proof of income. You’ll want to bring your most recent pay stub in for the application.
Once you have these four items prepared, you can proceed with the application process to get a flex loan.
3. Borrow Up To $4,000
You’ll learn how much you qualify to borrow as you go through the application process. However, you’ll be glad you could borrow up to $4,000 with this kind of loan. That amount can be beneficial in many types of financial emergencies. For instance, you could use that amount to pay for the following:
- Emergency medical fees or charges
- Urgent repairs on your car or home
- Last-minute travel to be with family
- Overdue rent or other bills
- Any other kind of urgent payments!
Remember, getting a flex loan means opening a line of credit. That means you can borrow your approved amount more than once. Once you repay whatever amount you’ve borrowed, you can draw on the same line of credit again!
4. Quick Application, Approval, And Payout
The last and most important thing to know about these loans is they involve a quick application, approval, and payout process. Firstly, completing the application process can take as little as 30 minutes. Then, if approved, you can start borrowing from your line of credit on the same day or by the next business day.
Best of all, a representative will guide you through every step of the process. So even if you’re nervous or unsure of anything, you can turn to them, and they’ll answer your questions. All of that can happen quickly right after you begin the application process.
Get Started Now!
Now that you know the essential things about Tennessee flex loans, all that’s left is to start with Tennessee Title Loans Inc. when you need help. Take the first step by filling out the online form with all the necessary details.
Shortly after you submit that form, a representative will call you directly to guide you through the application process. While you wait for that call, you can use the time to prepare your ID, license, pay stub, and lien-free car title!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.