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Part of the LendNation chain · locations
LendNation in Memphis, TN
Memphis, TN's LendNation storefront on South Perkins Road offers quick payday and title loans with same-day funding.
Data compiled from public sources · Rating from CreditDoc methodology
LendNation Review
LendNation operates at 3204 S Perkins Road in Memphis, TN, in a standalone storefront accessible during business hours Monday through Friday, 9 AM to 6 PM, with Saturday hours from 9 AM to 2 PM. This South Perkins location serves Memphis residents needing quick access to payday and title loans, with in-person service from a trained lending team.
The Memphis location on South Perkins Road offers payday loans, title loans, and check cashing services. Call +1 901-795-5084 to speak with a loan specialist, verify current rates, or apply for a loan over the phone during business hours.
When visiting the South Perkins Road location in Memphis, bring a valid ID, proof of income, and your banking information for faster processing. LendNation processes applications quickly, often approving loans the same day you apply.
Services & Features
Check cashing
Direct deposit
In-store loan applications and consultations
Insight Mobile Banking cards
Instant debit card funding
Multi-pay payday loans (installment repayment over up to 36 months)
Online payday loan applications
Payday loans ($100-$1,000, short-term)
Phone and online customer support
Store locator and online pre-approval
Title installment loans
Title loans (vehicle-secured, longer-term loans)
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- Instant or same-day funding available through debit card or direct deposit
- Fast application process with instant pre-approval decisions
- Multiple loan types to match different needs: payday loans, multi-pay installments (up to 36 months), and title loans
- Title loans allow customers to keep and drive their vehicle while borrowing against its equity
- Extended hours including Saturday availability (9 AM-1 PM)
- 200+ locations across 11 states with both online and in-store options
- 4.8/5 Google rating with 161 customer reviews
- Additional money services including check cashing and direct deposit options
Cons
- No APR, interest rate, or fee information disclosed on website—customers must contact store or apply to see actual costs
- Payday loans are inherently short-term and high-cost; rollover risk and debt cycling are not addressed
- Title loans require collateral (vehicle); default risk results in loss of transportation
- No mention of credit-building features or financial counseling to help customers avoid repeat borrowing
- Limited to 11 states; not a national option for all consumers
Rating Breakdown
Value 2.0
Effectiveness 1.5
Customer Service 2.2
Transparency 2.0
Ease of Use 3.9
Compare the Best Personal Loan Options
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Frequently Asked Questions
Is LendNation legitimate?
Yes. LendNation is a registered company, headquartered in 3204 S Perkins Rd, Memphis, TN 38118.
Quick Facts
- Headquarters
- 3204 S Perkins Rd, Memphis, TN 38118
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on LendNation
LendNation is appropriate for consumers facing genuine short-term cash emergencies who have exhausted other options and understand they will pay a premium for speed and accessibility. The critical caveat is that payday and title loans are expensive borrowing tools; customers should view them as true last-resort emergency funding, not ongoing financial solutions, and should have a clear plan to repay and avoid rolling over loans.
Best For
- Workers facing genuine short-term cash emergencies (auto repair, medical bill, urgent household expense) with next paycheck arriving soon
- Vehicle owners needing larger loans who can afford title loan payments and want to avoid losing transportation access
- Consumers with poor or no credit history who cannot qualify for traditional bank loans or credit cards
Updated 2026-04-29
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Financial Wellness Guides
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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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