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Rating by Finanso®

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.

Apply for a 1st Franklin Financial's loan


How to apply


The major requirements the company has for its customers are similar to other states. The applicant should be a resident of Alabama, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, or Texas to apply. Also, customers should be at least 18 years old (19 in Alabama) and prove their stable source of income.

To be considered for a loan, 1st Franklin Financial currently requires a minimum credit score of 500. Naturally, the lower your credit score, the higher your interest rates. Even in the case of having a low credit score, it is an opportunity to take out a loan confirming the capacity to pay with any collateral.

If you meet all requirements, 1st Franklin Financial can lend you money for more than 15 purposes, including past-due bills and legal or bond fees.

If you do not meet any of the general requirements mentioned above, your application can be rejected.

Application details

The list of documents that customers should attach to their applications is variable. Applicants can choose what suits them best.

1st Franklin Financial Corporation workers will need to validate your identification first. To do so, they will require two pieces of identification proof from the list below.

  • Driving Permit,

  • State ID,

  • Social Security Card,

  • Passport,

  • Birth Certificate.

They will also need to validate your address in order to finish the loan application procedure. When you visit a branch, bring one of the documents listed below to confirm your address.

  • Voter Registration,

  • Card Mortgage Statement,

  • Lease Contract,

  • Utility bill.

Also, they will need to confirm your income. Submit one of the documents listed below so that they can finalize the loan amount you will be eligible for.

  • Paystubs,

  • Bank Statements or Bank Records,

  • Tax Returns, or W-2,

  • Government Documentation,

  • Employer Income Verification in Writing.

Additional documents may be required If someone pays all or part of responsibility in your name or if your credit score falls below their minimum, and they will request additional collateral.

There are three main ways of taking out a First Franklin loan:

  • At 1st Franklin Financial official branch;

  • Via Phone, calling your local branch;

  • Online application via 1st Franklin Financial's official website

Two first options are for those who need immediate assistance.

To complete the application process online, click on the "Apply now" button, fill the "Borrow amount" field, enter your address and select the nearest branch to visit. After that, your loan application will begin, and it will take about 10 minutes. You must have the following information on hand for both yourself and your co-applicant (if applicable): Social Security Number, your mailing address and phone number, and your earnings information. It is also possible to save and resume the application later.

To apply for a loan with 1st Franklin Financial, you must first pass a screening that determines how much you want to borrow and where you live. Following that, you must choose a local branch, and the online section of the application takes approximately 10 minutes to complete.

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.

After visiting one of the various branch locations, funding will be sent to a customer's bank account. It is likely that funds will be transferred to your bank account until the next day or later.


Does First Franklin report to credit bureaus?

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.

Calculate loan payments in 1st Franklin Financial

1st Franklin Financial calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

3000 $
25000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with 1st Franklin Financial

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between 1st Franklin Financial and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All 1st Franklin Financial’s reviews by September 2022
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