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 is a financial services company operating physical retail locations that specialize in short-term lending products. The Memphis Summer Avenue location serves as a neighborhood lending hub offering immediate cash solutions to consumers facing unexpected expenses or income gaps. The company has been positioned as a fast-access alternative to traditional banking for customers who need quick funding approval and disbursement. With multiple store locations across the Memphis area and a national customer service infrastructure, Speedy Cash markets itself as a convenient, in-person lending option with transparent pricing.
The company offers three primary loan products: Payday Loans up to $425 with repayment due on or around the next paycheck, Lines of Credit up to $4,000 with flexible draw-down and repayment over time, and Title Loans up to $4,000 using vehicle collateral. Beyond lending, Speedy Cash provides ancillary money services including check cashing, money orders, wire transfers, and Green Dot prepaid card services. The company emphasizes in-store customer service, with staff available to review loan options, explain terms, answer questions during application, and assist with post-approval funding and repayment inquiries. Online application initiation is available, though final processing occurs in-store.
Specific to this location and brand, Speedy Cash distinguishes itself through extended hours (some days until 7pm), same-day or next-day funding capability, vehicle appraisal services for title loans conducted on-site, and transparent upfront pricing where borrowers know exact costs before signing. The company operates multiple nearby Memphis locations, allowing geographic convenience. Customer service is available bilingually (English and Spanish), with dedicated phone lines for each language. The in-store model positions the company as a personal alternative to fully online lending for customers who prefer face-to-face service.
Speecy Cash operates in the higher-cost lending space where interest rates and fees are significantly above traditional banking but positioned as justified by speed and accessibility. While transparent about costs upfront and offering legitimate short-term solutions, the payday and title loan products carry inherent risks for consumers—high effective APRs, potential debt cycles, and vehicle collateral loss. The company targets financially vulnerable consumers facing immediate cash needs, a population that may lack traditional credit access but faces elevated borrowing costs. For customers with stable income and genuine one-time needs, these products function as intended; for others, the products risk becoming expensive recurring debt.
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 7434 Airline Dr, Houston, TX 77076. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Speedy Cash is best for employed borrowers with valid income and identification facing genuine one-time emergencies who need same-day or next-day cash and prefer in-person service. The critical caveat is that all products carry very high effective interest rates typical of short-term lending; this is legitimate emergency borrowing for true one-time needs, but presents significant debt-cycle risk for consumers using these products repeatedly or out of chronic cash flow problems.
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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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