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Regional Finance

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LAST UPDATED: December 1st, 2022

For over 30 years Regional Finance has been providing a personal loan product through its network of more than 350 locations in 14 states. Founded in South Carolina, Regional Finance has expanded its services and focuses especially on providing loan products to borrowers with less-than-perfect credit.

A Regional Finance personal loan can be used for a variety of purposes and loan amounts typically range from $500 to $12,000 and vary by state. The loan has fixed rates and fixed terms, which can be helpful in managing payments.

Continue reading for a full review of this personal loan company.

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The Good

  • Accepts Borrowers with Less-Than-Perfect Credit
  • Loans Typically Require Collateral
  • Co-Borrowers Accepted
  • Prequalify with No Impact to Your Credit Score
  • Loans for a Variety of Purposes
  • Reports to Two Main Credit Bureaus
  • No Application or Prepayment Penalty Fees
  • Online Account Management
  • Customer Service

Accepts Borrowers with Less-Than-Perfect Credit

Regional Finance seeks to serve and provide its personal loan product to borrowers with limited credit access. Loan rates and terms are assessed on an individual basis, and so if you have less-than-perfect credit, you could have a chance to qualify for a Regional Finance personal loan.

While Regional Finance could be a great choice for borrowers with less-than-perfect credit, if you have an excellent credit score (700+), you would likely be able to qualify for a personal loan with better rates and terms elsewhere.

Loans Typically Require Collateral

The Regional Finance personal loan requires collateral except in certain states.

The fact that Regional Finance typically requires collateral for a personal loan is indicative of its focus on lending to borrowers who may have limited credit access, since your credit score isn't the only thing that the company is relying on to ensure that you can make loan repayments.

Collateral should be in some form of personal property, such as a car, and it must be insured in case of loss or damage.

Co-Borrowers Accepted

You can apply for a Regional Finance personal loan with a co-borrower, meaning that you and another individual are both responsible for paying back your loan.

It is important to note that a co-borrower is different from a cosigner. With a co-borrower, both parties are responsible for paying back the loan, whereas a cosigner is only responsible for making payments if you are unable to do so for whatever reason.

Prequalify with No Impact to Your Credit Score

With Regional Finance you can easily prequalify for a personal loan. This process will not impact your credit score, but if you choose to move forward a hard credit check will be performed to complete the loan process, which is a standard practice in the industry.

Most lenders offer a pre-qualification option with no impact to your credit score, allowing you to easily compare loan options and see what would be best for you.

Loans for a Variety of Purposes

A Regional Finance personal loan can be used for a variety of purposes, such as debt consolidation, medical expenses, home repairs, or any other large expense. Your use of funds is flexible, which is a helpful offering if other expenses arise even after you apply for and receive your loan.

Some lenders, such as LightStream, have very strict loan purpose guidelines, requiring borrowers to use their funds only for what they outlined in their application, but this is not the case with Regional Finance.

Reports to Two Main Credit Bureaus

Regional Finance reports monthly to Equifax and TransUnion. This is good news, especially for borrowers who may be trying to monitor their credit. That being said, make sure that you make consistent on-time payments on your loan, as this activity will be reported to these credit bureaus and could either really help or really hurt your credit score.

No Application or Prepayment Penalty Fees

Applying for a Regional Finance personal loan is cost-free, and you can also pay off your loan early without penalty, which could save you money in interest.

Online Account Management

Once you are approved for your personal loan, you can easily access your loan information online by setting up a Regional Finance account. Through your account you will be able to schedule and make payments, set up AutoPay, and update your contact information.

To create an account you must have a specific Regional Finance account number which can be found on your loan contract, in your welcome letter/email, on payment receipts, or by contacting your local branch. Without this number you won't be able to create your online account.

Customer Service

Regional Finance prides itself on offering a personalized loan experience by providing excellent customer service. If you ever have any questions or concerns, you can easily contact a Regional Finance representative by phone or email, or you can stop by a branch to speak with a loan officer about your financial information and loan details.

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The Bad

  • Only Available in 14 States
  • Low Maximum Loan Amount
  • Undisclosed Rates

Only Available in 14 States

Regional Finance is only licensed in the following states:

  • Alabama
  • Georgia
  • Missouri
  • North Carolina
  • New Mexico
  • Oklahoma
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Wisconsin
  • Illinois
  • Indiana
  • Utah

Unfortunately, if you don't reside in any of these states, the Regional Finance personal loan product will not be available to you. 

Low Maximum Loan Amount

Regional Finance offers loans from $600 to $10,000, or even up to $12,000 in some states. This is a fairly low maximum loan amount compared to other lenders that may offer up to $100,000. However, most companies that lend to borrowers with less-than-perfect offer lower loan amounts.

Undisclosed Rates

Exact rates and loan terms are not disclosed on the Regional Finance website. While you will receive this information based on your personal information through prequalification, it can be helpful to see an interest rate range up front so you can have some idea of what to expect.

While rates are not outlined online, they are provided at some in-branch locations in certain states, such as Alabama.

Since Regional Finance lends to borrowers with less-than-perfect credit, it is likely that interest rates will be higher than you may see elsewhere.

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The Bottom Line

If you have limited credit access, a Regional Finance personal loan could be a great choice for you.

That being said, if you have high and/or excellent credit (700+), you may want to look into other lending options since Regional Finance's rates will likely be higher than what you could qualify for elsewhere. In addition, if you are in need of a large loan amount, then you will need to look into other lenders since Regional Finance only offers loans up to $10,000 ($12,000 in some states).

Based on what we've seen, we would recommend Regional Finance, particularly if you have less-than-perfect credit.

If you have borrowed from Regional Finance, please tell us about your experience by leaving a review.

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Brandy Byrne Loganville, GA

I've had a loan with this company for awhile now and never had an issue until this past April when I called my local branch and asked to do a deferred payment and was told no because I had never been late . I explained that I had been sick with Covid for almost 2 months but kept paying all my bills and at that point had no money left since I had been unable to work. (My payments were on auto draft so I never had to call or go in) so I asked that they stop my auto payments so I would not go into the negative and I would be allowed to do a deferred payment. I was told that was not a problem but a few days later my bank cactus empty almost negative so I called back and was told I would be given back my payment and after almost 3 weeks I finally have my payment put back into my account. However it has caused multiple problems and I've been playing catch up with all my bills and that had made it worse. I let my local branch know that when I had extra money I would make a payment but the calls were nonstop and I was spoken to as if I were a stupid child and told them to stop calling me and I would be in when I had money but I still received multiple calls from different people in the office because apparently the screens were not linked and no one saw where I had said to stop calling me. With that said I still managed to finally make a payment after speaking with the manger who continued to call me. Now I'm refinanced at an even larger amount . I would if I were you make sure that all brancyknow that it's illegal to continue to call people after they've asked them to stop and pretending like it was never said and having someone else call us still illegal. I may even ask for some help from an attorney not sure because it's not right what happened to me when I did what I was supposed to do by making my payments and when I needed help I wasn't given it and put into an even worse situation while trying to recover and care for my kids

2 months ago

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Reply from Regional Finance

Thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at regionalfinance.com/contact-us/ so that we can discuss this matter in more detail.

Oct. 6th, 2022

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J Smith Houston, TX

I had a bad experience with Regional Finance in League City, TX. First one employee took all of my information over the phone. When it had been over a week without hearing from her, I called and was told she was on vacation. There was silence on the phone until I had to ask if someone else could help me. The next lady reluctantly agreed, and I gave her all of my information again plus upload documents. I was turned down even though my credit is not that bad and the loan amount was small. I was OK with their decision but disappointed at all the trouble I went through.

2 months ago

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Reply from Regional Finance

Thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at regionalfinance.com/contact-us/ so that we can discuss this matter in more detail.

Sep. 28th, 2022

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Anonymous

I have been receiving emails from here and have NO ACCOUNT WITH YOU!!! I have tried to contact for years please REMOVE MEEEE

2 months ago

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Reply from Regional Finance

Thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at regionalfinance.com/contact-us/ so that we can discuss this matter in more detail.

Sep. 28th, 2022

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Oscar Garcia McAllen, TX

They didn't raise my limit even though I always make my payments

3 weeks ago

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Reply from Regional Finance

Thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at regionalfinance.com/contact-us/ so that we can discuss this matter in more detail.

Nov. 22nd, 2022

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Patricia Ann Derrett Jacksonville, TX

The person that helped me she did a good job but it took so long like two and a half hours

1 month ago

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Reply from Regional Finance

Thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at regionalfinance.com/contact-us/ so that we can discuss this matter in more detail.

Oct. 31st, 2022

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Grace morris Vincent, AL

They always answer there phone, always are willing to take time to talk to you and try to help when you need them.lk to you

5 months ago

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Reply from Regional Finance

Hi Grace, thank you for your feedback. We are so glad to hear that you had a positive experience.

Jul. 18th, 2022

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Lorraine Clodfelter San Antonio, TX

Not given a lot of important information during the loan process and when I called to cancel insurance I was told multiple lies, lies, lies and more lies and I will report to the Consumer Protection Agency. Also, I don't know how I qualified for the amount I did.

1 year ago

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Reply from Regional Finance

Hi Lorraine, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Oct. 12th, 2021

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Nicholas castilleja

I've never missed a payment but was denied a raise on a new loan even though tho I had been pre approval!

4 months ago

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Reply from Regional Finance

Hi Nicholas, thank you for bringing this matter to our attention. Please contact our Customer Support Department by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Aug. 3rd, 2022

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Leesa Riggs Wellston, OK

Always friendly, very helpful, takes care of business. They treat you like they have known you forever and not just someone off the street

8 months ago

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Reply from Regional Finance

Hi Leesa, thank you for your feedback. We are so glad to hear that you had a positive experience.

Mar. 15th, 2022

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Nicole C Correa Lawton, OK

Well it took too long .... But what is still bothering me is i look at the contract and it said that i got 1300.00 but the check is 1192.00 and i gotta pay 1700.00 thats not ok with me that truly bothers me

1 year ago

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Reply from Regional Finance

Hi Nicole, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Nov. 3rd, 2021

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Erin Johnson Pacolet, SC

I was advised that if I get my account current I could radiance and receive the cash available. I was told by the manager that I would get back over $1000. I got $300. The information I was told was incorrect.

1 year ago

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Reply from Regional Finance

Hi Erin, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at by visiting our website so that we can discuss this matter in more detail.

Aug. 10th, 2021

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Bennie Greenville, SC

I paid this Loan off (In Full). This Lian is Showing on my Credit Report as an Open Account, with a Balance of $2,407. This needs to be Reported as Paid off. This has Dropped my Credit Score! I will be taking Legal Action!

1 year ago

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Reply from Regional Finance

Hi Bennie, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department by visiting our website so that we can discuss this matter in more detail.

Aug. 5th, 2021

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Katherine Mountain City, TN

They keep calling and texting and emailing. It is harassment. My account is up to date. So why do they keep bothering me?

9 months ago

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Reply from Regional Finance

Hi Katherine, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Feb. 23rd, 2022

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Janet parker Arlington, TX

Easy to renew a loan. Loan officer was very helpful and efficient.

6 months ago

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Reply from Regional Finance

Hi Janet, thank you for your feedback. We are so glad to hear that you had a positive experience.

May. 9th, 2022

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Mary Alice Phillips Johnson City, TN

CALLED TO MAKE PAYMENT ON JAN. 3RD,,NO ONE ANSWERED HAD TO LEAVE VOICE MSG...NO ONE CALLED ME

10 months ago

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Reply from Regional Finance

Hi Mary Alice, thank you for bringing this matter to our attention. We are sorry that you did not receive the level of service you expected. Please contact our Customer Support Department by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Jan. 13th, 2022

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Paula McCray Jackson, TN

Walked in to set up auto pay...Didn't come to argue..was insulted, told to go home, come back later

11 months ago

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Reply from Regional Finance

Hi Paula, thank you for bringing this matter to our attention. We are sorry that you did not receive the level of service you expected. Please contact our Customer Support Department at by visiting the Contact Us page of our website so that we can discuss this matter in more detail.

Dec. 27th, 2021

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Kazeem Jimoh Franklin, TN

The policy isn't customer friendly at all, forcing my hand to a new refinance for switching my collateral

1 year ago

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Reply from Regional Finance

Hi Kazeem, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department using our Contact Us form on our website so that we can discuss this matter in more detail.

Jun. 15th, 2021

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Michael Hardin Cullman, AL

Great service , Fast approvals, helps build stable credit history

10 months ago

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Reply from Regional Finance

Hi Michael, thank you for your feedback. We are so glad to hear that you had a positive experience.

Jan. 18th, 2022

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Hiral H patel Hoffman Estates, IL

Great customer service love the people I work with

11 months ago

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Reply from Regional Finance

Hi Hiral, thank you for your feedback. We are so glad to hear that you had a positive experience.

Dec. 20th, 2021

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Brenda H Duncan Gaffney, SC

They do not show appreciation for long time loan holders

1 year ago

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Reply from Regional Finance

Hi Brenda, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department by visiting our website so that we can discuss this matter in more detail.

Jun. 29th, 2021