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RISE is an online lender that offers installment loans and lines of credit online. In Tennessee, you can open a line of credit and may get a $500 to $4,000 credit limit and 60% to 275% APR.  

How can you get quick cash in Tennessee?

Tennessee quick cash options include online loans, storefront payday loans, auto title loans, and credit card cash advances. However, the amount you can borrow, the fees you’ll pay and the risks you take can vary from one option to another.


RISE offers an unsecured line of credit to residents of Tennessee. Unlike with an auto title loan, there’s no risk of losing your vehicle when you draw (borrow) against your line of credit.


The line of credit may have a higher annual percent rate (APR) than a cash advance on a credit card, but you may be able to borrow $500 to $4,000, which could be higher than your credit card’s limit.


The RISE line of credit may also offer a lower APR than what you might receive with a payday loan or other online loans in Tennessee.


How much does it cost to borrow money in Tennessee?

The fees and interest you’ll pay on Tennessee cash loans can depend on the lender, type of financial product, and your creditworthiness.


State laws limit the fees for payday loans in Tennessee.** You could have to pay as much as 15% of the face value of your check. In other words, $15 on a $100 check, meaning you’ll receive $85 from the payday lender. A $15 fee on an $85 loan with a 14-day term is the equivalent of an APR around 460%. 


Due to the high APR and a $425 borrowing limit, a payday loan may not be the best option if you’re looking to quickly borrow more money in Tennessee.


A line of credit from RISE can offer a much lower APR and could be a good alternative to payday loans in Tennessee.


Your credit line’s limit may range from $500 to $4,000, and you can borrow as much (or as little) as you need as long as you’re within your credit limit. There’s no fee to apply for the credit line or to keep it open if you don’t borrow money.


How does the RISE line of credit work?

Getting a line of credit with RISE can be a quick and easy process.


You can apply online and get quickly approved for a credit line. Once your account is open, you can get funds in your checking account within one business day.*


Interest will only start to accrue if you take out a loan against your credit line. There’s no fee or penalty for paying your loan off early. 


You can also make additional draws against your credit line if the total amount you borrow doesn’t exceed your credit limit. Unlike with an installment loan, once you pay down the loan, you can borrow against your credit line again without having to apply for a new loan.


**You can find a copy of the state laws on LexisNexis