Speedy Cash in Memphis, TN offers payday loans up to $425, lines of credit up to $4,000, and title loans up to $4,000, plus in-store check cashing and money services.
Editorially reviewed by Harvey Brooks
Speedy Cash is a national short-term lending brand operating physical retail stores across multiple states. The Memphis location at 5126 Summer Avenue in Tennessee offers both loan products and money services under one roof. The store is open six days a week with extended hours on Mondays and Fridays until 7pm and Saturday hours until 4pm. Customers can begin applications online and complete the process in-store with staff assistance.
This location offers three personal loan products: Payday Loans up to $425 with repayment due on or around the borrower's next pay date; a revolving Line of Credit up to $4,000 that allows borrowers to draw varying amounts and replenish their limit as they repay; and Title Loans up to $4,000 secured by the borrower's vehicle. All products require a valid government-issued ID, proof of income or employment, a working phone number, valid email, and proof of address. Title Loan applicants must additionally bring a drivable vehicle for in-store appraisal and a clear title. The store also offers check cashing, money orders, wire transfers, and Green Dot Visa Debit Cards.
The store's primary differentiator is hands-on in-person service. Staff are available to walk borrowers through loan options, complete applications, and answer questions about terms, funding timelines, and repayment at every step — including while signing loan documents. The Line of Credit product offers more flexibility than a standard payday loan, allowing borrowers to access funds as needed up to their limit and repay over time, making it better suited for ongoing or variable expenses. The bundling of lending and financial services in a single location reduces the number of stops consumers need to make.
Speedy Cash serves consumers who need fast cash access and cannot wait on traditional bank underwriting. However, payday loans and title loans are among the highest-cost borrowing products available, and the payday loan ceiling at this location — $425 — is lower than what many competing short-term lenders offer. Title loans carry the added risk of vehicle repossession if the borrower defaults. Tennessee's posted Rates and Terms should be reviewed carefully before applying, and borrowers should consider lower-cost alternatives such as credit union payday alternative loans or employer advances before using this service.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. Speedy Cash is a registered company headquartered in 6838 Stage Rd, Bartlett, TN 38134. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Speedy Cash at this Memphis location is best suited for Tennessee consumers who need small, fast loans and prefer face-to-face service over online-only lenders. The $425 payday loan cap limits its utility for larger short-term needs, though the $4,000 line of credit and title loan options serve qualifying borrowers with bigger gaps. As with all payday and title lenders, costs are high — exhaust lower-cost alternatives before applying.
Free credit counseling from certified counselors who create personalized debt management plans, negotiate lower interest rates, and guide consumers toward financial stability.
Best for: Consumers with unmanageable credit card debt who want a structured repayment plan at no upfront cost, People who want free professional guidance before committing to a paid debt relief program
LendNation offers payday loans, title loans, and installment loans at 200+ locations across 11 states, with same-day or instant funding options for borrowers needing quick cash.
Best for: Borrowers facing genuine short-term emergencies who can repay within the loan term without rolling over, Customers who prefer in-person lending with immediate access to funds and need physical location convenience
Walmart Money Center offers check cashing, money orders, wire transfers, and bill payment services at Walmart store locations nationwide, providing convenient financial services for unbanked and underbanked consumers.
Best for: Unbanked consumers needing basic check cashing and money transfer services, Rural residents without nearby bank branches or credit unions
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
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.
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.
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.
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.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
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.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
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.
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.
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.
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.
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.
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.'
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.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
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.
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.
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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