Speedy Cash offers payday loans up to $425, lines of credit up to $4,000, and title loans up to $4,000 with in-store application and same-day service at Memphis locations.
Editorially reviewed by Harvey Brooks
Speedy Cash operates a network of storefront lending locations, with multiple branches across the Memphis, Tennessee area including the Summer Avenue location. The company specializes in short-term emergency lending products designed to bridge immediate cash needs between paychecks or during unexpected expenses. Their business model centers on rapid approval and funding, with physical store locations where customers can apply in person and receive personalized guidance through the lending process. The company has been operating under the "Tomorrow can be payday®" brand positioning for emergency cash solutions.
Speedy Cash offers three primary lending products: Payday Loans (up to $425 with repayment due on next payday), Lines of Credit (up to $4,000 with flexible draw-down and repayment over time), and Title Loans (up to $4,000 secured by vehicle collateral). Beyond lending, they provide money services including check cashing, money orders, wire transfers, and Green Dot Visa debit card services. The Memphis Summer Avenue location operates with extended hours (9am-7pm most weekdays, closing at 4pm Saturday and all day Sunday), supporting accessibility for working customers.
Speedy Cash distinguishes itself through in-person service with trained staff who can explain loan options, answer questions during application, and complete funding in a single store visit. They provide transparent pricing where borrowers know exact costs before signing. The availability of multiple loan types (installment, payday, title, and lines of credit) allows customers to select products matching their specific financial situations. The company also offers online application initiation and Spanish-language customer service (1-855-734-0111), expanding accessibility across language barriers.
However, Speedy Cash operates in the high-cost lending space with products that carry substantial interest and fees typical of payday and title lenders. While faster than traditional bank loans, these products are significantly more expensive than credit union alternatives or employer advances. The payday loan maximum of $425 is relatively modest, and title loans require vehicle collateral, limiting access for those without clear titles or suitable vehicles. Customers considering these products should exhaust alternatives like credit union PALs or employer advances, which offer lower costs under 36% APR.
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 8569 Long Point Rd, Houston, TX 77055. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Speedy Cash is best for employed individuals with immediate emergency cash needs ($100-$4,000) who can repay within weeks or months and prefer in-person service. Critical caveat: These are high-cost loans significantly more expensive than credit union PALs or employer advances—borrowers should exhaust alternatives offering APR under 36% before using payday or title loans, as the debt cycle risk is substantial.
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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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