If you have poor credit, getting the money you need can feel overwhelming. Fortunately, a line of credit for poor credit—also known as a flex loan—can provide up to $4,000 to help you handle emergencies or unexpected expenses.

In this guide, we’ll explain what flex loans are, how they work, and what you need to qualify for one.

What Is a Line of Credit for Poor Credit?

A line of credit, also called a flex loan, basically allows you access to money on-demand, even if you have bad or no credit. It is a flexible borrowing option because you can choose when to take the money, pay it back, and borrow it again.

How Does a Flex Loan Work?

• You receive a maximum loan limit for a set period.
• You choose when to borrow money and how much to take out.
• You only repay what you borrow—plus interest.
• Once repaid, the funds become available again.

This makes a flex loan a great alternative to traditional installment loans or credit cards, especially for those with poor credit.

Can I Get a Flex Loan with Poor Credit?

One of the benefits of selecting a line of credit is that it is an option even if you have poor credit. At Tennessee Title Loans, Inc., all credit types are welcome, and you do not need excellent credit to get approved for a Tennessee line of credit. As a result, a line of credit is an option for individuals with good, bad, and no credit.

What Do I Need to Apply for a Flex Loan?

Because you can still qualify for a line of credit or a flex loan if you have bad or no credit, there are other requirements you would meet instead. In order to apply for a line of credit loan, you will need four items:

• Driver’s license or state-issued ID.
• Lien-free title to your vehicle.
• Your vehicle for inspection.
• Proof of income.

These items are used to confirm your eligibility. In other words, your lien-free title, vehicle, and proof of income are used in a place of the traditional approach to credit scores, which is why your credit is not as necessary to determine whether or not you are a viable candidate.

Pay attention that the title must be lien-free. A lien-free title is one that does not have any debts against it. The title also needs to be in your legal name, just as it shows up on your driver’s license. To provide proof of income, your most recent pay stub will suffice.

How Much Can You Get with a Flex Loan?

Tennessee Title Loans, Inc. offers flex loans up to $4,000. Once again, you will not have to use the entire $4,000 offered through flex loans, but the $4,000 limit is there if you qualify. It’s up to you to pick how much you need to borrow and when.

That being said, not everyone will qualify for the full $4,000 line of credit. Your vehicle is used to determine how much you can qualify for. Although the most you can qualify for is $4,000, you might qualify for less, depending on the value of your vehicle.

How to Get a Line of Credit for Poor Credit

The process of getting a flex loan here at Tennessee Title Loans, Inc., is simple:

1. Start by filling out the flex loan form. This inquiry form is used to match you to the closest Tennessee location.
2. After you click submit, a loan representative will give you a call to set up an appointment to have your documents and vehicle inspected. This appointment can be at a location of your choice.
3. Make sure to have your items at the appointment and sit down with the loan representative. Allow the representative to verify your items and inspect your vehicle to determine how much you can qualify for.
4. If you qualify, the loan representative will walk you through the last steps of the process, which include some paperwork. You can get your money the same day or the next business day.

The in-person application steps can take as little as 30 minutes to complete. Have all of your items ready so that the appointment goes as quickly as possible.

Why Choose a Flex Loan Over Other Loan Options?

A flex loan offers key advantages over traditional loans and credit cards, making it a great option for those with poor credit:

• No need for a perfect credit score
• Access funds when needed—borrow and repay at your own pace
  
• Use your vehicle as collateral instead of relying solely on credit history
  
• Quick approval process with same-day funding options

If you need a line of credit for poor credit, a Tennessee flex loan could be the right solution for you.

Apply For A Line Of Credit For Poor Credit Today

Once again, a line of credit can allow you a flexible loan option. A line of credit is especially an option for individuals that have no credit or bad credit, but you will need to meet the four required items above to qualify.

If a line of credit for poor credit sounds like an option you’d like to use, you can get started now by filling out the Tennessee Title Loans, Inc. inquiry form. We will get back to you shortly to set up an appointment, answer any remaining questions you may have, and walk you through the rest of the process. 

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