How to apply
Requirements
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.
