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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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Irene Fuentes Houston, TX

Seems my loan never decreases cannot wait till I pay this off.

3 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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Richele Bradburn Mescalero, NM

I seem to never get the loan down. During COViD I hit hard ship and paid set rate 1 year and debt never went down

6 months ago

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Reply from Regional Finance

Hi Richele, 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.

May. 23rd, 2022

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C k hilter brand Jackson, MO

Lack of options on the length of loan time and really an unwillingness to look at a shorter loan situation at a higher payment

9 months ago

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Reply from Regional Finance

Hi C K, 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.

Mar. 4th, 2022

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Maria Castillo Richmond, TX

Did like how they handled my contract.. they basically made me sign all these extra insurance without me knowing after I question everything they acted like they told me.

1 year ago

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Reply from Regional Finance

Hi Maria, thank you for bringing this matter to our attention. We take all customer concerns seriously. Please contact our Customer Support Department at by visiting the Contact Us section of our website to discuss this matter in more detail.

Sep. 21st, 2021

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Sandra Houston, TX

Even though I had a previous loan and in good standing, hard to get approval on another loan.

11 months ago

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Reply from Regional Finance

Hi Sandra, 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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Norma Donna, TX

I need it an increase on my loan and I did not get any.

9 months ago

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Reply from Regional Finance

Hi Norma, 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 form of our website so that we can discuss this matter in more detail.

Feb. 23rd, 2022

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Carol johnson Houston, TX

Did not give the best request to lower my payments

11 months ago

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Reply from Regional Finance

Hi Carol, 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.

Dec. 20th, 2021