Unexpected financial expenses happen
But 58% of Americans don't have $1,000
in their bank account to cover these life events.
Tennessee has the most predatory lenders in the country
There are more payday lenders than there are McDonald's locations.
In Tennessee, the annual percentage rate is
426% on payday loans.
An average payday loan borrower is indebted 5 months out the year – this equates to paying $958.39 in fees to borrow $500 for 5 months.
At the Community Loan Center, we give borrowers 12 months to repay their loan with a fixed annual percentage rate of 21%.
Cost per $500 Borrowed
TN payday lender
Loans available from $400 - $1,000
18% fixed interest rate
No credit history needed
No collateral needed
12 month repayment, with no prepayment penalties
Affordable monthly payments through convenient payroll deduction
Loans can be used for any purpose
Free financial education and counseling