The Tennessean: Tennessee payday lender grows at breakneck speed amid industry criticism – April 5, 2013 – Deborah Jackson was living paycheck to paycheck when she walked into an Advance Financial store for a $425 loan. Paying back the original loan required additional loans. Advance Financial charged Jackson a $60 renewal fee, so the interest rate worked out to 585 percent a year. Paige Skiba, associate professor of law, is quoted.