Financial emergencies can hit when you least expect them. If you don’t have perfect credit, finding fast cash isn’t always easy. But a flex loan could be the answer.

If you’re wondering what is a flex loan and how it works in Tennessee, this guide will explain everything.

What Is A Flex Loan?

A flex loan is a line of credit designed for financial emergencies. You are qualified for a set amount of cash, but you can draw as little or as much as you wish. Thus, it acts as an emergency fund. 

Like a regular credit card, if you keep your loan in good standing, the amount you draw may also increase! So, the simple answer to a flex loan is that it’s your key to a better, more prepared stance toward unexpected turns of events.

How Do Flex Loans Work?

A flex loan utilizes your lien-free vehicle title and proof of income for eligibility. This means you can still secure this loan even with bad credit. 

Like a credit limit, you can access your emergency funds as needed. The only requirement is that you repay your borrowed amount first. Once you repay the borrowed amount, you can withdraw money from your line of credit again. 

At Tennessee Title Loans, Inc., we offer a line of credit amounts up to $4,000. Several factors, such as your income and vehicle value, determine the amount you qualify for. 

Let’s explore some of the other advantages of a flex loan and look at the online flex loans direct lenders offer.

Benefits of Flex Loans

1. Flex Loans For Borrowers With Bad Credit

One of the answers to what a flex loan is is that it’s a second chance at credit. As such, your credit rating will only be a part of the application process, not the deciding factor. Many people with bad credit pay their bills on time, every time. For those who’ve suffered unfairly from poor credit scores, this is their opportunity to access the cash that they need and get a second chance because no one deserves to be penalized forever for mistakes they made to their credit when they were younger or in a dire situation.

2. You Have Control Over Your Flex Loan

Flex loans give you much control over how you use the loan. You can choose your approach to the amount you take out of the loan, giving you the financial flexibility you seek. What is a flex loan if it is not flexible?

3. Flex Loans Help Consolidate Debts

Another answer to the question of what a flex loan is is that it’s a great way to consolidate debts. If you’ve got a bill collector who’s been driving you up the wall and you urgently need to start repairing your debt, then a flex loan gives you a great way to do this so that you can consolidate your debt into your flex loan.

Organizing your debts in one place makes managing them more accessible and can prevent annoying phone calls or late fees. This allows you to fix your debt and build your new debt-free life.

How To Apply for Flex Loans in TN

Here’s how to get started with a flex loan in Tennessee:

1. Apply Online:
   Go to our official site and complete the quick flex loan application form.

2. Wait For a Call:
   A representative will call to explain the process and help you move forward.

3. Visit Your Nearest Store:
   Bring:

   • A valid ID or driver’s license
   • Your most recent pay stub
   • A lien-free vehicle title
   • Your vehicle (for inspection)

Once everything checks out, you could access your line of credit on the same day.

Flex Loans TN: A Smart Way To Stay Prepared

As you can see, the advantages of flex loans are nothing short of amazing. It’s a second chance at credit that you can use just in case of financial emergencies.

Everyone deserves a second chance, so if you need cash and think a flex loan might be right, please complete your application today.

Apply now for a Flex Loan in Tennessee and get back in control of your finances.

 

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