Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Payday loans in Cleveland, Tennessee
Tennessee payday loan rules that apply in Cleveland
- Max loan amount
- $500
- Min loan term
- N/A
- Max loan term
- 31 days
- Finance charge cap
- 15% of check amount
- Max absolute fee
- $75
- Typical APR
- ~460%
- Rollovers (extensions)
- Prohibited
- Simultaneous loans
- 2 active loans
- Right to rescind
- Next business day
- Governing law
- Tennessee Deferred Presentment Services Act
- Regulator
- TN Dept of Fin. Inst.
Cleveland at a glance
| Metric | Cleveland | Tennessee | United States |
|---|---|---|---|
| Population | 98,701 | 7.0M | 332.3M |
| Median household income | $63,951 | $71,256 | $85,275 |
| Median rent | $967/mo | $1,149/mo | $1,432/mo |
| Income spent on rent | 28.2% | 29.9% | 31.6% |
| Homeownership | 65.6% | 67.6% | 65.4% |
| Poverty rate | 13.4% | 13.9% | 12.6% |
| Unemployment rate | 5.6% | 4.8% | 5.3% |
| Without health insurance | 10.1% | 10.1% | 8.6% |
| Veterans | 8.0% | 7.5% | 6.5% |
Source: U.S. Census Bureau, American Community Survey, by ZIP code. City and state figures are population-weighted averages of ZIP code data and are approximate.
Payday loan cost calculator for Cleveland
Move the sliders to see what a payday loan would cost under Tennessee rules and how it compares with local incomes.
Tennessee maximum: $500
Tennessee maximum: $15
Rollovers are not allowed in Tennessee.
- Fee
- $75
- Total to repay
- $575
- APR
- 391%
- Share of a two-week household paycheck in Cleveland
- 3.0%
Estimate only. APR = fee ÷ amount × 365 ÷ term. Lenders may charge less than the state maximum; actual terms vary.
What a payday loan costs in Cleveland
- Fee on a $500 loan
- $75
- Share of a two-week household paycheck
- 3.0%
- Hours of work at the local median wage
- 4.7 hours
- Rollovers
- Not allowed in Tennessee
Example based on the Tennessee maximum fee for the maximum loan and local median incomes: two-week paycheck = household income ÷ 26, hourly wage = individual income ÷ 2,080. Actual terms vary by lender.
Cleveland in context
- Population rank in Tennessee
- 10th
- of 27 Tennessee cities with 50,000+ residents
- Median household income rank
- 19th
- of 27 Tennessee cities with 50,000+ residents
- Households earning under $25,000
- 17.7%
- ▲ 0.6 pts vs TN
- Median home value
- $231,432
- ▼ 17% vs TN
- Home value to income
- 3.6×
- A $400 emergency expense
- 2.3 days
- of median household income
Payday loan stores in Cleveland, TN
Licensed storefront lenders in Cleveland with addresses, phone numbers and hours. We do not rank or recommend any lender; confirm each company's license with the TN Dept of Fin. Inst. before you borrow.
| Address | Phone | Hours | Google rating |
|---|---|---|---|
| 201 Keith St SW Ste 5 Cleveland, TN 37311 | (423) 479-2000 | — | 4.9 |
| 2398 McGrady Dr SE Cleveland, TN 37323 | (423) 479-2166 | — | 4.9 |
| 104 Keith St SW Cleveland, TN 37311 | (423) 473-8904 | — | 4.9 |
| 3860 Keith St NW Ste 2 Cleveland, TN 37312 | (423) 559-1809 | — | 5.0 |
| 865 Keith St NW Cleveland, TN 37311 | (423) 479-4138 | — | 4.8 |
| 1695 25th St NW Cleveland, TN 37311 | (423) 438-1417 | — | 4.8 |
| 4460 Frontage Rd NW Cleveland, TN 37312 | (423) 641-0330 | — | 3.1 |
| 300 Paul Huff Pkwy NW Ste 700 Cleveland, TN 37312 | (423) 479-9615 | — | 4.7 |
| 2320 Treasury Dr SE Cleveland, TN 37323 | (423) 478-5353 | — | 4.3 |
| 2524 Keith St NW #1 Cleveland, TN 37312 | (423) 339-0400 | — | 4.9 |
| 808 25th St NW Cleveland, TN 37311 | (423) 339-5878 | — | 4.9 |
Fast & secure payday loans in Cleveland, Tennessee
Unexpected expenses can happen anytime. If you need urgent cash in Cleveland, our service connects you with trusted, state-licensed lenders.
Apply online from the comfort of your home, get a fast decision and, if approved, receive funds in your bank account as soon as the next business day.
Why Cleveland residents use us
- Fast 5-minute request A simple online application, with no waiting in line at a storefront.
- Bad credit considered Lenders focus on your steady income, not just your credit history.
- Borrow up to $500 Loan terms must comply with the Tennessee Deferred Presentment Services Act.
- Safe & confidential Your personal and financial details are sent over an encrypted connection.
Notice for Cleveland residents: Payday loans are designed for short-term emergency needs and should not be used as a long-term debt solution. Interest rates, fees and maximum loan amounts are governed by Tennessee law (Tennessee Deferred Presentment Services Act). Always review the contract terms carefully before signing.
Cleveland payday loan FAQ
How much cash can I borrow in Cleveland?
Loan amounts in Cleveland are typically from $100 up to $500, in line with Tennessee lending law. Your exact approved amount depends on your verifiable income, existing debt and the lender’s evaluation.
Do I need to visit a storefront in Cleveland to apply?
No. The whole process is handled securely online, so you don’t need to wait in line at a local check-cashing store or branch. If approved, your funds are deposited directly into your bank account by ACH transfer.
Can I qualify for a payday loan in Cleveland with poor credit?
Possibly. A traditional FICO score is not the only factor. Lenders in our network mainly look at whether you have a steady, recurring income and an active checking account to handle repayment. Approval is not guaranteed.
How quickly will I receive my funds in Cleveland?
Many applicants get a decision within minutes. Once you review and e-sign your agreement, lenders typically release the cash the same day or the next business day, depending on your bank’s transfer cutoff times.
What are the minimum requirements for Cleveland residents?
To qualify, you must:
- Be at least 18 years old.
- Live in Cleveland or the surrounding Tennessee area.
- Have an active checking account in your name.
- Provide proof of consistent monthly income (employment, benefits or recurring deposits).