Loans from
$300 – $5,000

Repayment term
4 – 24 Months

Minimum credit score
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The figures provided are representative of a typical installment loan made or arranged by CreditNinja and are not guaranteed rates or terms that you may qualify for.

By CreditNinja
Modified on April 8, 2024

Are you looking for a personal loan? Clarksville, TN, is full of ways to get a loan, but is that the best solution for you? Some people can step into the local branch of their bank and apply for a personal loan. But for others, personal financial challenges can restrict their choices. Can people with bad credit find loans in Clarksville?

This article will look at what it takes to pay off debt fast. And though it may seem like your financial past limits your choices, we’re here to show you the truth about your options (spoiler alert: They’re pretty awesome). Read on to get to work on your financial fix right now!

Clarksville, TN: The Basics

Clarksville is a US city in northern Tennessee, located about 50 miles north of Nashville. Its population of about 167,000 makes it the state’s fifth-largest city. Clarksville was founded in 1779 and settled by former soldiers of the American Revolution. Over the past few decades, the city has seen tremendous population growth. Major employers in Clarksville are in the education, manufacturing, and healthcare industries.

How Do Personal Loans Work?

You receive personal loan proceeds in a lump sum and repay them with fixed monthly payments or installments. Installment Loan payments include interest and fees from the lenders, so you will repay more than you borrow with any loan.

Are Personal Loans Secured or Unsecured?

Personal loans are unsecured loans. An unsecured loan doesn’t require collateral. Loans that require collateral are secured loans. When you consider choosing one or the other, it’s essential to understand that the “security” of these loans is for the lender, not the borrower.

Here’s what we mean. Collateral is a valuable asset or piece of property that a borrower has to give a lender to guarantee the loan. The most common pieces of loan collateral are cars, homes, or savings or money market accounts. When you provide collateral, you are lowering the lender’s risk in the lending relationship. How? Because if you don’t repay the loan, the lender will keep your collateral.

Many people are looking for loans when running out of financial resources. But, putting up a house or a car may be too much of a risk. With an unsecured installment loan, you can borrow money and pay it back without having to gamble your most important assets.

Why Should I Get a Personal Loan?

Like many other US cities on the rise, Clarksville has a growing number of people who need access to solid personal loans. Personal loan proceeds can cover a variety of expenses. Unlike mortgage loans or auto loans, you can use your loan however you see fit. Here are some of the most common uses for personal loans:

Debt Consolidation

You use a debt consolidation loan to pay off multiple pieces of debt so that you can focus on just one monthly payment. Using personal loans like this can potentially save borrowers tons of money in interest payments to multiple lenders. A debt consolidation loan is a deal for managing credit card debt.


No matter how hard you try to prepare, unexpected expenses happen in life. Whether it’s a car repair or medical issue, personal loans can provide a way to cover costs that you can deal with over time. That way, you can focus your energy on getting through your emergency.

Your Dreams

Weddings, graduations, and vacations are just some of the ways we celebrate the joy in life. And often, the “ultimate” version of those dreams can come with a hefty price tag. However, personal loans can help people finance their fun with some planning.

Personal Loans and Your Credit Report

Even if you have no experience looking for a loan, you probably know that your credit means a lot to your chances of approval. Your credit report shows how you have dealt with your debt over time. It contains information that will tell anyone considering you for a loan how you might behave as their customer. Your credit report contains information in the following areas:

Payment History

When you miss a utility bill payment or pay your auto loan late, it can end up on your credit report in your payment history—which has the most significant impact on your credit score. Your record of late or missing payments is essential in determining if you would make a good borrower. Even if your overall credit is bad, your payment history can make the difference in a loan decision. Keep a health history by meeting all your debt payment obligations. In other words: Pay your bills.

Credit Utilization

If you have a credit card with a $500 limit and a Balance of $125, you are using a quarter of your available credit. That makes your credit utilization 25%. Your utilization is a snapshot of how you spend and repay your credit card debt and shows potential lenders how you might handle additional debt. This factor is the second most crucial part of your credit report. Keeping your credit utilization below 30% is healthy for your credit score.

Credit History

Credit history, or credit age, is as long as your oldest active credit account. So if you’re still using the credit card you opened in 2011, your history started in 2011. But, if you closed that credit card then eventually it will fall off of your credit report. In this case, the next oldest account on your report will be your oldest account. Just limit your usage instead of canceling credit accounts when you pay them off. That way, your credit history can genuinely reflect the amount of time you’ve been managing debt.

New Credit

New credit is all about the number of hard inquiries made on your credit report. A hard inquiry happens when a potential lender reviews your credit report. This is also known as a credit check or “having your credit run.” Too much activity in this area signals trouble for lenders. If you’re looking for a personal loan, try not to apply for any other loans or credit immediately before. Hard inquires can harm your credit score. Additionally, they can stay on your credit report for up to two years.

Credit Mix

Your credit mix has the least impact on your credit score. It is a review of the different types of debt you manage. For example, paying a credit card and an auto loan is a good credit mix.

Your Credit Score

All of this financial monitoring comes from data collection agencies called credit bureaus. The major credit bureaus in America are Equifax, Experian, and TransUnion. Each credit bureau creates a credit report and credit score for you.

A credit score ranges from 300 to 850:

300-579: Poor/Bad
580-669: Fair
670-739: Good
740-799: Very good
800-850: Excellent

No matter what your credit score is, know that it can change. Incorporating a few good financial habits into your lifestyle can immediately impact your credit score. Additionally, be sure to keep an eye on your credit reports. Federal law requires each credit bureau to give you access to your credit report every year. Credit report errors can hurt you, like incorrect account information, even if you aren’t at fault.

Does My Credit Score Matter?

Whether or not your credit score matters depends on the personal loan choice you’re making. A good-to-excellent credit score shows that you can manage debt responsibly. That behavior gives borrowers access to personal loans with lower rates and fees.

Does that mean that having lousy credit gets you the opposite? Absolutely not! While traditional lenders have tight restrictions regarding credit scores, online Private lenders set their criteria for loan approval. Overall, these lenders create opportunities for many underbanked people to get manageable help with an installment loan.

Payday Loans and Title Loans: Are They a Good Idea?

Many people who can’t get an installment loan look to other lending sources to get the help they need. These alternative lenders provide cash loans with few requirements, making them ideal for people with bad credit. However, many of their disadvantages get overlooked by desperate lenders. Here are a couple of the more commonly used lending alternatives in Clarksville, TN:

Credit Card Loan

Most major credit cards offer the option to borrow cash from your account. You can use your credit card PIN to access money at an ATM, just like you would with your debit card and checking account. However, every credit card loan comes with a finance charge. And since your cash withdrawal is technically a “purchase,” it will also accrue interest. In the end, a credit card loan can end up sinking you into further debt.

Auto Title Loans

An auto title is a document that proves ownership of your car. You can use your title to get a secured loan from a title loan company. The title is the collateral for your loan; the company holds it until you pay back your loan. If you default on this high-interest, high-risk loan, you will lose your auto title—and ownership of your car.

Payday Loans

Payday loans are one of the most high-risk lending options available. These loans target people with bad credit who need a quick cash solution. Many online payday loans offer a loan process that takes customers from application to approval on the same day. But the short loan terms and high interest and fees make payday loans very difficult to get rid of.

When you have bad credit, it may seem like you can’t get a loan anywhere. So, many people resort to payday loans because they think they have no options. But the good news is that Clarksville, TN has lenders that offer personal loans that fit almost any need.

Why You Should Choose CreditNinja

CreditNinja specializes in providing loan solutions that work. Even if bad credit has stopped you in the past, it doesn’t have to stop you from building a bright financial future. Every CreditNinja loan has:

Fast Application Process

CreditNinja’s personal installment loans start with our swift and simple online loan application. All we need is a few pieces of information and a few minutes of your time to discover your path out of debt. And approved loans get directly deposited to every customers’ bank account, sometimes in as little as one day depending on when you’re approved.

Zero Pre-payment Penalties

Some lenders will charge you a fee if you want to pay them sooner than later. Weird, right? At CreditNinja, you can pay off your loan as early as you want. So we’ve got no penalties for pre-payment.

Excellent Customer Care

Our Customer Care Team is your guide through your personal loan journey with us. Whether they need help with payment or have questions about other ways to help you, our team is there for them.

Clarksville, TN: CreditNinja Personal Loans Are Here For You!

If you’re looking for loans in Clarksville, CreditNinja can get you the boost you need to climb out of debt. Apply for one of our personal installment loans today, or contact us for more information.

What our borrowers are saying

  1. Clarksville, TN |
  2. What Is An Installment Loan? | Forbes Advisor

¹Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications approved before 10:30 a.m. CT Monday – Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case, the loan if approved, will be funded the business day after such additional verification is completed.