Applying for a 1st Franklin Financial loan is a straightforward process that begins on their website. You click "Apply Now," select your state, and enter the desired loan amount. After providing your address and selecting a branch, you indicate your marital status and submit the application. Key requirements include being a resident of the service state, being at least 18 years old, providing valid identification, proof of income, and proof of address. Loan terms can extend up to 60 months with amounts up to $15,000, and the maximum APR is 35.99%.
How to Apply for a 1st Franklin Financial Loan
Visit Website. Go to the 1st Franklin Financial website and click "Apply Now."
Click Apply Now Again. On the next page, click "Apply Now" again.
Choose Your State. Select your state from the provided list.
Enter Loan Amount. Enter the amount you wish to borrow.
Enter Address. Provide your address, city, state, and zip code.
Select Branch. Choose a branch location for your loan.
Click Next. Click the "Next" button to proceed.
Marital Status. Indicate whether you are married.
Submit Application. Submit your application.
Conditions
Terms. Loan terms are available for up to 60 months.
Amounts. Loan amounts can go up to $15,000.
APR. The maximum Annual Percentage Rate (APR) is 35.99%.
Requirements
Residency. Applicants must be residents of the state where the loan is offered.
Age. Applicants must be at least 18 years old.
Valid Identification. Applicants need to provide a valid form of identification.
Income. Proof of a steady income is required.
Proof Of Address. Applicants must provide proof of their current address.
Reasons for Rejection
Insufficient Income. If your annual income is below the required minimum, your application may be rejected due to an inability to meet the repayment obligations.
Lack Of Required Documentation. Failure to provide necessary documents, such as a copy of your paycheck stub, can result in your application being denied.
No Bank Account Or Credit Card. Not having a bank account or credit card as an alternative payment method can lead to rejection since it is a mandatory requirement.
Employment Verification Issues. Inaccurate or unverifiable employment information, such as discrepancies in your employer's details or job title, can cause your application to be rejected.
Age Restriction. Applicants under the age of 18 are not eligible for the program, and any application from individuals below this age will be automatically rejected.
Yes, customers of 1st Franklin Financial Corporation will have their information submitted to a major credit bureau.
Do First Franklin loans require a credit check?
Yes, First Franklin loans require a credit check. The minimum credit score to qualify is 500. If you do not meet the credit criteria, you can take out a loan secured with any collateral.
How long does it take First Franklin to approve an application?
According to 1st Franklin Financial, loan applications might be approved as soon as the next day. Weekend applications will not be reviewed until the following Monday, and responses will be sent promptly after they are reviewed.
