Speedy Cash offers payday loans up to $425, lines of credit to $4,000, and title loans up to $4,000 with same-day or next-day funding at physical store locations across Tennessee.
Editorially reviewed by Harvey Brooks
Speedy Cash operates as a storefront lender providing short-term emergency lending solutions across Tennessee, with multiple locations including a Memphis store at 5126 Summer Avenue. The company has positioned itself as a neighborhood alternative to traditional banks for consumers needing quick access to cash for unexpected expenses. Their Memphis location operates extended hours (9am-7pm on weekdays) and maintains an in-store consultation model where applicants can review loan options, complete applications, and ask questions before committing. The company also offers ancillary financial services including check cashing, money orders, wire transfers, and Green Dot Visa debit cards at most retail locations.
Speedy Cash's primary product offerings include Payday Loans (up to $425 with repayment due around the next paycheck), Lines of Credit (up to $4,000 with flexible draw and repayment), and Title Loans (up to $4,000 using vehicle equity as collateral). All products require standard documentation: valid government ID, proof of employment or income, working phone number, valid email, and proof of address. Title loans specifically require a drivable vehicle in reasonable condition and proof of vehicle insurance. The company emphasizes transparent pricing, stating borrowers "will know exactly how much it costs to borrow the funds prior to signing your loan agreement."
Speedy Cash distinguishes itself through its in-store experience model, offering face-to-face consultation and document review rather than purely online processing. The company provides vehicle appraisal services in-store for title loan applicants and maintains multiple convenient locations across the Memphis area (9 store locations listed, plus Bartlett). Their extended operating hours and bilingual customer service (English 1-888-333-1360; Spanish 1-855-734-0111) reflect efforts to serve diverse customer bases. The company also supports online application initiation, allowing customers to begin the process remotely before completing in-store.
Honestly assessed, Speedy Cash serves a legitimate consumer need for emergency liquidity but operates in the high-cost lending sector where borrowers should carefully evaluate terms before committing. While the company provides transparency about costs upfront and maintains accessible physical locations with extended hours, payday and title loans typically carry substantial interest rates and fees that can create debt cycles for vulnerable borrowers. The maximum payday loan amount ($425) is relatively modest, and lines of credit and title loans require either ongoing income verification or vehicle collateral, which may not be accessible to all applicants. This lender is appropriate for genuine short-term emergencies but not a substitute for building emergency savings or accessing lower-cost credit alternatives.
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 10201 Lake June Rd, Dallas, TX 75217. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Speedy Cash is best for employed individuals with stable income facing genuine short-term emergencies who value in-person consultation and don't have access to lower-cost credit options. Critical caveat: payday and title loans carry high interest rates and fees that can trap borrowers in debt cycles; this should only be considered after exhausting alternatives like employer advances, credit union PALs, family loans, or negotiating payment plans with creditors.
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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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