Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.3
(20 Ratings)

1st Franklin Financial Review

Advertiser Disclosure

About Lender

1st Franklin Financial has been a trusted financial services company for over 80 years. They put customers first. They have over 360 branches in the Southeast and have built a reputation for being reliable and trustworthy. They offer personal loans with flexible terms to fit any budget so financial help is available and hassle free with no surprises.

The company offers personal loans with a simple and easy application process to fit the unique needs of their customers. Loans can be approved fast with fixed payments and fixed rates so you know what to expect. Apply online, by phone or visit a local branch for a personalized experience. With multiple state licenses, all loan terms and APRs are transparent and fair so you can be sure you’re getting responsible and reliable service.

1st franklin financial review

Key Features

  • Fast Application. Personal loan application with 1st Franklin Financial is fast.

  • Community. 1st Franklin Financial gives back to its communities through donations and volunteer work.

  • Availability. With over 360 branches in 9 states 1st Franklin Financial is a convenient option for you.

  • Investments. 1st Franklin offers investments to the public in Senior Demand Notes, Variable Rate Subordinated Debentures and Commercial Paper.

Pros and Cons

Pros

  • Branch Locations. 1st Franklin Financial has over 360 branches in 9 states so you can do business in person.

  • Fast Application. Personal loan application with 1st Franklin Financial is fast and you can get your money in 24 hours of approval.

  • Personalized. 1st Franklin Financial puts their customers first.

Cons

  • High Interest Rates. 1st Franklin Financial personal loans can have high interest rates so borrowing can cost more.

  • Collateral may be Required. This is determined on an individual basis and depends on creditworthiness, income and loan amount.

  • Fees. The company may charge fees for certain services like late payments or returned checks which add to the cost of borrowing.

  • Credit History. Like most lenders 1st Franklin Financial has credit score requirements (at least 580) so some customers may not qualify for a loan.

Reliability

  • Age and Experience. 1st Franklin Financial has been in business over 80 years so they have been around for a long time. That’s reliability and stability.

  • Regulatory Compliance. Being regulated by state and federal agencies like the Consumer Financial Protection Bureau (CFPB) means they follow the rules and regulations so you can trust and be reliable.

  • Customer Satisfaction. A+ rating from the Better Business Bureau means high customer satisfaction but 1st Franklin Financial is not accredited by BBB.

How to Apply for a 1st Franklin Financial Loan?

Apply for a Loan

  1. Visit the Website. Go to the official website and click on the "Apply Now" button prominently displayed on the home page.

  2. Fill Out Application. Specify the amount you wish to borrow and the purpose of the loan. Enter your zip code to find the nearest 1st Franklin Financial branch. Fill in the required personal information, including your name, address, and contact details. Provide your employment information and any additional income details. Submit the application form online.

  3. Wait for a Decision. Wait for a response from 1st Franklin Financial. You may be contacted for additional information or to discuss your loan and options.

  4. Visit the Branch. To complete the application process and discuss your loan options with a representative.

  5. Get Funds. Once approved, receive your funds as instructed by the loan representative.

Conditions and Requirements

Conditions

  • Terms. Loan terms go up to 60 months.

  • Amounts. 1st Franklin Financial offers loans up to $15,000.

  • APR. Interest rates vary up to 35.99%.

Requirements

  • Residency. Must be a resident of the state where the loan is offered.

  • Age. Borrowers must be 18 years old or older.

  • ID. Customers need to provide a valid ID.

  • Income. Proof of income is required.

  • Address. Proof of current address is also must be provided.

Ways to Receive the Money

If approved for a loan with 1st Franklin Financial the money will be deposited into your account. This is the fastest and easiest way to get your money as you can access it immediately and use it for whatever you need. If you don’t have a checking account or don’t want the money deposited into your account you can also get a check for the loan amount. But this option may take longer to receive and may require extra processing time.

Products

  • Personal Loans. The loans can be used for anything like home repairs, medical bills and unexpected expenses. The application process is fast and easy and approval is usually within 24 hours.

  • Senior Demand Notes. These are short term debt securities that mature in 1 year or less. Unsecured and fixed interest rate higher than what you can earn on a savings account or other low risk investments. You can redeem the notes at any time with no penalty.

  • Variable Rate Subordinated Debentures. Long term debt securities that mature in 10 years or more. Unsecured and variable interest rate that changes periodically based on market conditions. Because they are subordinated they are lower in priority than other debt obligations and are riskier than senior demand notes.

  • Commercial Paper. 1st Franklin Financial also issues commercial paper, short term debt security used to fund short term obligations or working capital needs. The commercial paper is unsecured and has fixed or variable interest rate depending on market conditions.

Other Personal Loans

Reasons for Loan Refusal

Reasons for loan refusal could be not meeting underwriting and income requirements for the loan amount requested, not having enough collateral, being an active-duty military member (or spouse/dependent covered under the Military Lending Act) trying to use a vehicle as collateral, or using loan proceeds for restricted purposes like post-secondary education, securities purchase, business purposes, gambling or illegal activities. Each application is thoroughly reviewed to ensure borrowers meet the company’s lending criteria, responsible lending and borrowing practices.

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How to Repay a 1st Franklin Financial Loan?

Repay

Repaying a 1st Franklin Financial loan is easy and flexible. Borrowers can pay online through First Franklin Financial Services where payments can be made securely with Visa, MasterCard or Discover credit cards. Or send payment by mail to the processing center. For those who prefer a more personal touch payments can be made in person at any location. Borrowers can also set up online automatic payments to make paying even easier and on time.

Loans like 1st Franklin Financial

OppLoans

Apply for a Loan

OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.

About OppLoans

Rise Credit

Apply for a Loan

RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.

About Rise

OneMain Financial

Apply for a Loan

OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.

About OneMain Financial

Universal Credit

Apply for a Loan

Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.

About Universal Credit

Editorial Opinion

1st Franklin Financial presents itself as a partner for those navigating the ups and downs of life. With over 80 years of service and making borrowing easy and convenient this company has built a reputation of reliability and customer service. The quick approvals, fixed payments and rates and large loan amounts show they offer flexible solutions. But as with any financial service borrowers should read the fine print especially the restrictions on loan use and the underwriting and income requirements. The company has many branches across the Southeast so they can be a good option for personal loans.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

Sources

FAQ

How do you qualify for a 1ˢᵗ Franklin Financial loan?

To qualify for a loan from 1st Franklin Financial, you will need to meet certain requirements. Here are some of the main qualifications that the company looks for:

  1. Creditworthiness: 1st Franklin Financial will review your credit score and credit history to determine your creditworthiness. While the company may work with customers who have less than perfect credit, having a good credit score and a strong credit history can increase your chances of being approved for a loan. Typically, it requires at least 580 points.
  2. Income: The company will also review your income and employment history to ensure that you have a steady source of income to repay the loan.
  3. Age: You must be at least 18 years old to apply for a loan from 1st Franklin Financial.
  4. Residency and proof of Address: You must be a resident of one of the states in which the company operates, including Alabama, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, Texas, and Virginia.
  5. Identification: You will need to provide a valid government-issued ID, such as a driver's license or passport, to verify your identity.
  6. Other factors: 1st Franklin Financial may also consider other factors, such as your debt-to-income ratio, employment stability, and other financial obligations, when evaluating your loan application.

It's important to note that meeting these qualifications does not guarantee that you will be approved for a loan from 1st Franklin Financial. The specific loan terms and conditions, including the loan amount, interest rate, and repayment terms, will vary depending on your individual circumstances and creditworthiness. If you have any questions about the loan application process or the specific qualifications needed to be approved for a loan, contact 1st Franklin Financial for more information.

Does 1ˢᵗ Franklin Financial approve everyone?

No, 1st Franklin Financial does not approve everyone who applies for a loan. The company has certain criteria that must be met in order to qualify for a loan, including creditworthiness, income, and other factors. While the company may work with customers with less-than-perfect credit, there is no approval guarantee for every applicant.

The loan approval process typically involves a review of the applicant's credit score and credit history, income, employment history, and other factors. Based on this information, the company will determine whether the applicant meets the criteria for a loan and what loan terms and conditions will be offered.

It's important to note that even if you are not approved for a loan from 1st Franklin Financial, other lenders or financing options may be available. It's always a good idea to shop around and compare loan terms and interest rates from multiple lenders before accepting a loan offer. This can help you find the best possible loan terms and save money on interest payments over the life of the loan.

Is 1ˢᵗ Franklin Financial a legitimate company?

Yes, 1st Franklin Financial is a legitimate company that has been in business for over 80 years. The company operates over 300 branch locations across nine states and has helped thousands of customers with their financial needs.

1st Franklin Financial is regulated by various state and federal agencies, such as the Consumer Financial Protection Bureau (CFPB), which helps ensure that the company complies with relevant laws and regulations. The company has an A+ rating from the Better Business Bureau, indicating high customer satisfaction.

The company is committed to providing personalized service to its customers, with knowledgeable loan officers available to answer questions and guide customers through the loan process. The company also offers a variety of online tools and resources to help customers manage their finances and make informed decisions about borrowing.

Overall, 1st Franklin Financial is a reputable and trustworthy financial services company with a long history of providing reliable and convenient personal loan services to customers in need. If you are considering a loan from 1st Franklin Financial, be sure to review the loan terms and conditions carefully and compare them with other lenders to ensure that you are getting the best possible deal.

Is 1ˢᵗ Franklin Financial a good lender?

1st Franklin Financial has a long history of providing personal loans to customers in need and has built a solid reputation as a reliable lender in the financial services industry. The company offers flexible loan terms and competitive interest rates, with loans up to $15,000.

Customers have praised the company's personalized service and knowledgeable loan officers, who are available to answer questions and guide customers through the loan process. The company also offers a variety of online tools and resources to help customers manage their finances and make informed decisions about borrowing.

While 1st Franklin Financial may not be the best lender for everyone, the company has generally positive reviews from customers and has been recognized for its commitment to customer satisfaction. However, as with any lender, it's important to carefully review the loan terms and conditions and compare them with other lenders to ensure that you are getting the best possible deal.

Company documents

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We put people first and will be there when you need us

© 1st Franklin Financial Corporation
Offers
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.26
(20 Ratings)
Recommended FinScore™
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300
650
1000
$3,000-$15,000
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Interest rate

to 35.99 %
Term
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Loan term for the financial product

12 months – 4 years
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Recommended FinScore™
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2000.00 – 100000.00 $
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Interest rate

6.34 – 35.89 %
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Loan term for the financial product

2 months – 5 years
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
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100.00 – 4000.00 $
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.93
(20 Ratings)
Recommended FinScore™
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1000
450.00 – 12000.00 $
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Interest rate

27.50 – 81.29 %
Term
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Loan term for the financial product

6 months – 3 years
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1st Franklin Financial reviews 2025
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4.8
Pros
A single phone call and a bit of information led to my approval. 1st Franklin Financial had everything ready for me to sign, making the process exceptionally easy.
Complain
4.6
Pros
I received an unsolicited $1,400 loan check in the mail from them, with no prior application or documentation. I've been consistently making payments for six months, always ahead of the due date. Now, facing a medical emergency and needing $350, I was told I must complete an online application and provide certain documents in person. It feels like my status as a loyal customer has been overlooked. While I appreciate their friendly demeanor, I'll proceed with paying off the loan as agreed, even though I'm left somewhat perplexed by the situation.
Complain
4.6
Pros
They provided me with an opportunity to improve my credit, and the staff members were genuinely friendly and supportive. Such positive and helpful service is increasingly rare these days.
Complain
4.4
Pros
The staff was not only friendly but also very helpful. The process at their office was efficient and didn't take much time. I would highly recommend the services if you're looking for assistance in finding a loan that suits your needs.
Complain
4.6
Pros
I made a phone call to them, and within minutes, they had approved my request, which was a chance nobody else was willing to provide. They were exceptionally kind and helpful.
Complain
4.6
Pros
I've had a fantastic three-year experience with this company, and they've been incredibly helpful. When I faced a difficult period in my life, they provided assistance without judgment, understanding my situation, and guiding me every step of the way. I highly recommend them for your financial needs.
Complain
4.6
Pros
Whenever I require their services, they are consistently willing to assist me. I want to express my gratitude to 1st Franklin Financial for their support and services; it is greatly appreciated.
Complain
1.8
Cons
I attempted to create an online account, but it repeatedly indicated an error with my email address. However, my email address is functioning correctly, as I've been receiving emails from 1st Franklin and have already verified it.
Complain
5
Pros
I've been a customer of 1st Franklin Financial for a considerable period. The entire team is exceptionally friendly and consistently helpful. I wholeheartedly recommend their services to anyone in need of a loan.
Complain
4.6
Pros
This loan company is a viable option for obtaining a loan, although the interest rates may be somewhat on the high side. Nevertheless, they do show flexibility in working with you and assist in securing a loan. In general, it's a solid choice for borrowing funds, as the staff is friendly, helpful, and always ready to provide the assistance you require.
Complain
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Company rating
4.3
/ 5
20 reviews
Application
4.4
Support service
4.3
Mobile App
4.3
Service quality
4.2
Your satisfaction level
4.2
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