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Small Loan Interest Rates Just Went Up

By Joel Lancaster
jlancaster@mckenziebanner.com
Posted 3/25/25

NASHVILLE (March 24) — A new Tennessee law raises the maximum allowable interest rate on certain small-dollar loans to 36 percent, up from the previous 30 percent cap. The change affects industrial loan and thrift companies, which include many of the state’s payday and title lenders.

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