Payday Loans in Memphis TN – Get Instacash!


Looking to quickly borrow a small amount of money and pay it back just as fast? You might be considering payday loans. Payday loans are legal in Memphis but these predatory loans can easily have you paying triple digit APR’s on top of additional fees. 

Payday loans can be dangerous. But you don’t need to settle to get fast cash. We’ll review safer alternatives in our guide to payday loans in Memphis.

How To Get a Cash Advance Loan in Memphis TN

Payday loans are usually not the best option for fast cash. There are safer and cheaper short-term lending alternatives available. One example is cash advances. Here’s our take on the best cash advances in Memphis, Tennessee. 


Max Advance Amount: $250

APR: 0%

Credit Affects: None

Instacash from MoneyLion is a safe, affordable alternative to payday loans. While payday loans put you in debt for money you don’t have, Instacash is an advance on the money you’ve already worked for. Instacash deducts the amount you borrow from your next paycheck at 0% APR. It’s the easiest and fastest way to get a quick burst of cash. 

Best of all? Instacash is free to use with your RoarMoney account or external bank account and you can get your money deposited within a couple of days. Need your money right now? Pay a small fee for instant deposits.

How to Qualify: 

  • You must be 18
  • Steady income or deposits 
  • A bank account that has been open for 60 days or more
  • Your bank account must have a positive balance 

In-Person Lender Payday Loan Lender

Max Payday Loan Amount: $500

APR: As high as 460%

Credit Affects: Potentially, payday lenders typically will not pull credit but they will report you to the credit bureaus immediately if you are late. 

Payday lenders can be in-person or online. In both scenarios, you’ll need to fill out an application and provide your personal information and financial information. Each lender might have different requirements, but we’ll go over that in just a bit.

If you decide to go with a payday lender, make sure to read the fine print and understand exactly what you are signing up for. You’ll want to know how much money you’ll owe including interest so you can prepare to pay it off immediately. 

Keep in mind that if you miss any payments, it can negatively affect your score and push you further into debt. For these reasons, payday loans are not a recommended lending option. You can read more about payday loans in Memphis, Tennessee here

How to Qualify:

  • You must be 18
  • American citizen or permanent resident
  • Steady Income or deposits 
  • You must provide your name, date of birth, Social Security number, and a valid ID
  • Your bank account information

Instant Loan Options in Memphis

Cash advances are one way to access quick cash. But you can also opt for instant loan. Take a look at our top choice for instant loans in Memphis. 

Credit Builder Loan

Loan Amount: You could qualify for up to $1,000

Credit Affects: The average Credit Builder Loan user can boost their credit score by 60 points in 60 days! 

MoneyLion offers a Credit Builder Loan that’s a safe alternative to traditional payday loans. Not only can you access cash instantly, but you’ll also have the opportunity to boost your credit score! That’s right, MoneyLion’s Credit Builder Loan is designed with a low APR to boost your score – unlike payday loans which can actually hurt your score. Plus, qualifying is simple. 

How to Qualify:

  • You must be 18 
  • American citizen or permanent resident
  • You must provide personal information such as your name, address, social security number, etc.
  • Have a bank account, debit card, or prepaid card to make payments
  • There are NO credit checks and you don’t even need credit history to qualify 

What’s Included?

  • Loan up $1,000 – Approval within minutes!
  • Weekly credit updates 
  • Credit improvement – Up to 60 points in 60 days!
  • Additional Instacash benefits
  • 12-month loan term with affordable payments
  • Credit Reserve Account – This account holds some of your funds to help you save while you build credit

Comparing Your Cash Advance Loan Options in Memphis TN

We’ve done the research so you don’t have to. Here’s what you can expect from different cash advance options in Memphis. 

InstacashCredit Builder LoanIn-Person Payday Lender
How Much Can You Borrow?$250$1,000$500
Fees & InterestFree
0% APR
Competitive APR, $19.99/month feeOften as high as 460% APR
Impacts Your Credit?NoYes, it builds your credit score. Will hurt your score if you miss a payment – won’t ever improve your credit
AvailabilityOnline & MobileOnline & MobileOnline & Mobile
Wait TimeInstantly*InstantlyUsually the next business day
Next StepsSign UpSign Up

Find Better Alternatives to Predatory Payday Loans in Memphis TN

Payday loans are predatory lending options that hurt more people than they help. You risk harming your credit score, sinking into debt, and even facing harassment from lenders if you don’t meet their requirements. MoneyLion is designed to be a safe alternative so you can avoid payday loans altogether. 

MoneyLion also offers more than just low-cost, fast lending options. You can even get paid up to 2 days early when you open a RoarMoney account. You’ll also be able to access weekly spending reports to keep your financial goals on track. 

All in all, use MoneyLion as a one-stop-shop to improve your financial health!

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Get cash fast, pay no interest

Enjoy Instacash advances up to $250. No credit check, no monthly fee, no interest. Just cash.

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