Flexible Credit Lenders

Tennessee Code Annotated § 45-12-103(a) provides that, no person shall engage in the business of making flex loans unless the person is licensed to make flex loans pursuant to this chapter. A person shall be deemed to be engaged in the business of making flex loans in this state if the person induces a consumer, while located in this state, to enter into a flex loan plan in this state through the use of the internet, facsimile, telephone, or other means. A separate license shall be required for each location from which the business of making flex loans is conducted.

Tennessee Code Annotated § 45-12-102(5) “Flex loan” means a loan made pursuant to a flex loan plan.

Tennessee Code Annotated § 45-12-102(6) “Flex loan plan” means a written agreement subject to this chapter between a licensee and a customer establishing an open-end credit plan under which the licensee contemplates repeated noncommercial loans for personal, family, or household purposes, that:
          (A) May be unsecured or secured by personal property;
          (B) May be without fixed maturities or limitation as to the length of term; and
          (C) Are subject to prepayment in whole or in part at any time without penalty;

APPLICATION AND REQUIREMENTS:

All Flexible Credit license applications, amendments, and renewal filings must be made through the Nationwide Mortgage Licensing System & Registry (NMLS).  Click HERE to access NMLS. 

• Click HERE to access the TN Flexible Credit License Requirements Checklist in NMLS.

ANNUAL REPORT
The annual report is due December 31, 2025.
Annual Report Form for CY 2024

Licensing Contact Information

Email: TDFI.licensing@tn.gov
Phone: (615) 253-6714
Fax: (615) 253-7794