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Cash Quick of Memphis in Memphis, TN
Cash Quick of Memphis offers payday loans and cash advances with online application and same-day funding options for borrowers in Memphis, Tennessee.
Data compiled from public sources · Rating from CreditDoc methodology
Cash Quick of Memphis Review
Cash Quick of Memphis is a payday loan lender operating in Memphis, Tennessee, with a physical location at 3024 Covington Pike #5. The company is listed as a loan agency specializing in emergency short-term cash solutions for consumers needing immediate funds. The company offers payday loans and cash advances with loan amounts ranging from $100 to $2,500.
They advertise a simple online form for fast access to funds, positioning themselves as accessible 24/7 for customer inquiries. The application process appears streamlined, with the company emphasizing quick processing and funding timelines typical of payday lending products. Cash Quick of Memphis operates in a competitive Memphis payday lending market alongside competitors like Cash Express, Advance Financial, and Mid-South Payday Loans.
com and a phone line at (901) 377-0404. While the website promotes data security and convenience, specific details about fees, interest rates, repayment terms, and licensing are not provided on the available web content. As a payday lender, Cash Quick serves consumers in acute financial emergencies seeking rapid access to small-dollar cash.
However, potential borrowers should be aware that payday loans typically carry high annual percentage rates and short repayment terms, which can lead to debt cycles if not carefully managed. The lack of transparent fee and rate information on the website is a notable limitation for consumer decision-making.
Services & Features
24/7 customer accessibility
Cash advances
Email customer support
Fast funding/same-day processing
In-person loan services at Memphis branch
Loan amounts customizable in $100 increments up to $1,000 and $1,000–$2,500 ranges
Online loan application
Payday loans ($100–$2,500)
Phone-based customer support
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- Loan amounts up to $2,500 available, exceeding typical payday minimums
- Online application process advertised as simple and fast
- 24/7 customer accessibility for service inquiries and support
- Multiple funding tier options ($100–$2,500) to match borrower needs
- Local physical branch in Memphis at 3024 Covington Pike for in-person service
- Responsive customer support email (support@mbvt.com) with promised 1-2 business day turnaround
- Website emphasizes data security and safety of personal information
Cons
- No transparent disclosure of interest rates, APR, or specific fees on the website
- No information about repayment terms, loan duration, or renewal policies
- Limited online presence and minimal company-specific details beyond basic contact info
- As a payday lender, inherent risk of high costs and potential debt cycles typical of the product category
- No details on eligibility requirements, credit score considerations, or lending restrictions
Rating Breakdown
Value 2.0
Effectiveness 1.5
Customer Service 2.2
Transparency 2.0
Ease of Use 3.9
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Frequently Asked Questions
Is Cash Quick of Memphis legitimate?
Yes. Cash Quick of Memphis is a registered company, headquartered in 3024 Covington Pike # 5, Memphis, TN 38128.
Quick Facts
- Headquarters
- 3024 Covington Pike # 5, Memphis, TN 38128
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on Cash Quick of Memphis
Cash Quick of Memphis is designed for Memphis-area residents facing immediate cash shortages who can qualify for payday loans. The primary caveat is that as a payday lender, the company's products carry high costs and short repayment terms; prospective borrowers should carefully review actual fees and rates before borrowing, and should explore payday loan alternatives (credit union PALs, employer advances, CDFI loans) if available, as these typically offer lower costs under 36% APR.
Best For
- Memphis residents facing unexpected emergency expenses requiring immediate cash
- Consumers with poor or no credit history who cannot access traditional personal loans
- Borrowers needing small amounts ($100–$500) for short-term cash gaps before next paycheck
Updated 2026-04-29
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Read guide →Financial Terms Explained (10 terms)
New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
Interest & Rates
APR — Annual Percentage Rate
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Why it matters
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Compound Interest
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Why it matters
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
MAPR — Military Annual Percentage Rate
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
Why it matters
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
Usury Rate — Usury Rate (Interest Rate Cap)
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Why it matters
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
How Loans Work
Collateral — Loan Collateral
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Why it matters
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
Fees & Costs
Late Fee — Late Payment Fee
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
Why it matters
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
NSF Fee — Non-Sufficient Funds Fee
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
Why it matters
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
Legal Terms
Usury — Usury (Illegal Interest)
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
Why it matters
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Credit Cards
Cash Advance — Credit Card Cash Advance
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Why it matters
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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