Advance Financial
Advance Financial is a Tennessee-based, family-owned financial services company operating 100+ retail storefronts and an online platform that serves unbanked and underbanked consumers with Flex Loans, payday loans, check cashing, wire transfers, money orders, and bill payment services 24/7.
- Company typePrivate
- Founded1996
- HeadquartersNashville, United States
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What Advance Financial does
Advance Financial is a Tennessee-based, family-owned financial services company founded in 1996 (originally as Harpeth Financial Services) by Mike and Tina Hodges in Franklin, Tennessee. The company operates a hybrid physical-and-digital retail lending platform, combining 100+ storefronts across Tennessee offering 24/7 service with an online Flex Loan product available in 22 states as of 2023. Its product portfolio spans Flex Loans, traditional payday loans carrying a 279.5% APR, check cashing, wire transfers, money orders, and bill payment services, primarily serving unbanked and underbanked consumers who need immediate, after-hours access to short-term liquidity outside the traditional banking system.
The company's technology stack is a standard retail-and-online lending platform without disclosed proprietary AI/ML components; the Flex Loan product, introduced in 2015, represents the primary product innovation, offering flexible repayment terms versus traditional single-payment payday structures. Underwriting, decisioning, and disbursement appear to operate through conventional retail and web channels, with no data flywheel, machine learning models, or third-party AI integrations documented in source material. Operations run through more than 100 Tennessee storefronts and an e-commerce platform serving a multi-state online customer base.
The business model is fundamentally transaction-fee based: revenue derives from interest charges on payday and Flex Loans at 279.5% APR in Tennessee storefronts, plus per-transaction fees on check cashing, wire transfers, money orders, and bill payments. Online Flex Loans operate as recurring credit relationships across 22 states. The company employs 500+ people as of 2023 (down from a 2018 peak of 1,000+) and has raised approximately $18.1M across two disclosed funding rounds ($1.1M in 2017 and $17M in 2019). Family ownership by the Hodges family is retained, and the previously co-located Action 247 sports gambling business was voluntarily shut down in January 2025, ending the controversial same-window lending-and-gambling model that had attracted state regulatory scrutiny.
Advance Financial firmographics
Firmographics- Name
- Advance Financial
- Legal name
- Advance Financial
- Website
- https://careers.advancefinancial.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Advance Financial is a Tennessee-based, family-owned financial services company operating 100+ retail storefronts and an online platform that serves unbanked and underbanked consumers with Flex Loans, payday loans, check cashing, wire transfers, money orders, and bill payment services 24/7.
- Ownership category
- akta.pro rank
Advance Financial industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Cash Advance (Online & Storefront) (FSAKAMAC)
- akta.pro secondary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
Keywords
Where Advance Financial is headquartered
LocationHeadquarters
- HQ city
- Nashville
- HQ country
- United States
- HQ region
- North America
Offices22 records
Markets served
Advance Financial business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Payday Lending Interest: Company charges 279.5% interest rates on payday loans at their roughly 80 storefronts in Tennessee
- Financial Services Fees: Revenue from check cashing, wire transfers, money orders, and bill payment services at retail locations
- Online Lending: Online Flex Loans offered in 22 states as of 2023
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | 279.5% APR Payday Loans |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Advance Financial product offering
Product offeringCore offering
Advance Financial operates more than 100 retail storefronts across Tennessee and an online platform serving 22 states, providing short-term consumer loans (Flex Loans and traditional payday loans), check cashing, wire transfers, money orders, and bill payment services. Its core differentiator is the proprietary Flex Loan product, launched in 2015, which offers more flexible repayment terms than conventional payday loans and is available both in-store and online on a 24/7 basis.
Product overview
Advance Financial is a fintech company offering a unified suite of financial services under the Advance Financial 24/7 brand. The company operates a platform combining retail storefronts and online channels to deliver products including Flex Loans, traditional loans, check cashing, wire transfers, money orders, and bill payment services. The core offering centers on the Flex Loans product, which is available both in-store across Tennessee and online in multiple states, representing the company's primary lending innovation alongside its traditional financial service offerings.
Differentiator
Problem solved
Functional benefit
Products and services
- Flex Loans A flexible loan product offered both in-store and online, providing customers with access to credit with flexible repayment terms as an alternative to traditional payday lending. Available at Tennessee storefronts and online in 22 states.
- Payday Loans Traditional short-term payday loans offered at Tennessee storefronts at a 279.5% interest rate, allowing customers to borrow funds for short-term liquidity needs, with the ability to use borrowed funds at the same location for Action 247 sports gambling deposits.
- Check Cashing Check cashing services provided at retail storefronts throughout Tennessee, allowing customers to convert checks into immediate cash as an alternative to traditional banking channels.
- Wire Transfers Wire transfer services offered at Tennessee retail storefronts, enabling customers to send funds domestically outside of traditional banking hours.
- Money Orders Money order products sold at retail storefronts throughout Tennessee, providing customers with a secure alternative payment instrument.
- Bill Payment Services Bill payment services provided at Tennessee retail storefronts, allowing customers to pay utility and other bills at locations outside normal banking hours.
Companies that use Advance Financial
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Advance Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Advance Financial partnerships and signals
Strategic signalScale indicators13 records
Recent moves6 records
Expansion highlights5 records
Advance Financial competitors and assessment
Company assessmentDirect peers
- ACE Cash Express: Multi-product retail financial services and payday lender with hundreds of storefronts and an online lending platform offering payday loans, installment loans, title loans, check cashing, and bill pay. Closely comparable to Advance Financial on store-based distribution, customer segment, and product breadth.
- Check `n Go: Multi-state payday and installment lender with retail locations and online platform offering payday loans, installment loans, and check cashing. Directly comparable to Advance Financial on product mix and store-based distribution strategy.
- EZMoney: Regional payday and installment lender with retail storefronts in the Midwest and online lending platform. Comparable on storefront-based short-term lending model and unbanked customer focus.
- World Finance: Personal installment lender operating more than 1,000 retail branches across the U.S. offering small-dollar installment loans to underbanked consumers. Closely comparable on installment loan product, branch distribution, and target customer segment, though World operates at significantly larger scale.
- Check Into Cash: A leading U.S. payday and installment lender operating both retail storefronts and an online platform offering payday loans, cash advances, and Flex Line of Credit products. Directly comparable to Advance Financial in product mix (payday, installment, check cashing) and multi-channel retail/online distribution.
- Speedy Cash: Direct payday and installment lender operating retail locations across multiple U.S. states plus an online platform. Comparable to Advance Financial's flex/payday installment offering, online multi-state licensing, and storefront-led model.
Emerging players
- Earnin: Earned-wage-access fintech offering cash advances against upcoming paychecks as an alternative to payday lending. Comparable on serving liquidity-constrained underbanked consumers, but operates on a tip/fee model rather than APR-based lending.
- Possible Finance: Mobile-first installment lender targeting underbanked consumers with small-dollar loans as a more affordable alternative to payday loans. Comparable on installment lending product and target customer, but emerging/digital-only versus Advance Financial's storefront-heavy model.
Broad incumbents
- MoneyGram: Global money transfer and payment services company with overlapping offerings in money orders, wire transfers, and bill payment. Comparable on the retail financial services component of Advance Financial's business, though MoneyGram does not offer short-term consumer lending.
- Western Union: Global money services company offering money orders, wire transfers, and bill payment — overlapping with Advance Financial's non-lending retail services but at much larger scale and without U.S. storefront concentration in short-term lending.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Advance Financial social profiles
Digital presenceAdvance Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Advance Financial leadership team
Management profileNumber of profiles
Profiles4 records
Advance Financial funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Advance Financial M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Advance Financial
What does Advance Financial do?
Advance Financial operates more than 100 retail storefronts across Tennessee and an online platform serving 22 states, providing short-term consumer loans (Flex Loans and traditional payday loans), check cashing, wire transfers, money orders, and bill payment services. Its core differentiator is the proprietary Flex Loan product, launched in 2015, which offers more flexible repayment terms than conventional payday loans and is available both in-store and online on a 24/7 basis.
Is Advance Financial a public or private company?
Advance Financial is a private company. It is classified as family owned and is currently operating.
When was Advance Financial founded?
Advance Financial was founded in 1996. It employs 501 to 1,000 people.
Where is Advance Financial based?
Advance Financial is headquartered in Nashville, United States, in the North America region.
How does Advance Financial make money?
Three revenue lines are on record. Payday Lending Interest is the primary driver. The others are financial Services Fees and online Lending.
Who are Advance Financial's main competitors?
Direct peers on record are ACE Cash Express, Check `n Go, EZMoney, World Finance, Check Into Cash and Speedy Cash. Emerging players are Earnin and Possible Finance. Broad incumbents are MoneyGram and Western Union.
Does Advance Financial have an API?
No public API is recorded for Advance Financial.
What industry is Advance Financial in?
Advance Financial's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAMAC, Cash Advance (Online & Storefront), with a secondary code of FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday). Its NAICS code is 522 and its SIC code is 6141.