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Regional Finance

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9.0

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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.

Video Customer Reviews

Jessie Montonya Customer Review Video About Regional Finance

Jessie Montonya

Willie faye Greer Customer Review Video About Regional Finance

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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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4.8

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1,353 Reviews

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Kathleen Napier Raleigh, NC

Staff is amazing! Regional is dependable when I'm in a financial crunch. The only reason I rate them a 3 and not a 5 is because the company must surely know that people who come to them are financially desperate, and so they charge outrageously high interest rates, which adds to the financial despair of their customers. I do, though, SINCERELY appreciate the assistance, though be it at an unethical price.

1 month ago

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Reply from Regional Finance

We appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Oct. 31st, 2022

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Lloyd L McClain Raleigh, NC

I rate them that way because I recently got a loan with Regional, at 30.2% with a credit score of 703, I feel that rate is to high. Upon cashing the check my bank was highly upset ,and didn't want to accept that loan with Regional, but I did anyway because they have really nice staff. But after this loan I will not come back.

1 month ago

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Reply from Regional Finance

We appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Oct. 27th, 2022

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Lakevie Thomas Gadsden, AL

It's okay just high interest rates. Other than that it's okay if you are in need at the time.

1 month ago

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Reply from Regional Finance

We appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Nov. 3rd, 2022

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Jimmy Wilder Hopkins, SC

The interest rate is high. I talked to the manager about it.

1 month ago

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Reply from Regional Finance

We appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Oct. 14th, 2022

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Miriam J. Dorsey Raleigh, NC

Kim H., the office manager, was very helpful in many ways. However, she misled me about the percentage of interest on the loan and was extremely slow in getting back to me and answering my questions. When I did get the loan - we had discussed using my car for a larger loan she has not until this very day gotten back in touch with me about the particulars of that loan.

1 year ago

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Reply from Regional Finance

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

Sep. 9th, 2021

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Darrell Rainey Greenville, SC

Interest is too high. I borrowed 5500 00 and the payback is over 15000.00 . They added over 3000.00 in insurance. I went back to drop the insurance and was told the monthly payment wouldnt change and was never told what the new payoff would be.

1 year ago

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Reply from Regional Finance

Hi Darrell, 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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Cam Perrineau-Jones

cold calls to re-establish new business is for the most part good ( a 5 on 1-10 scale) as not pushy or rude but office staff is unprofessional and at times rude...seriously lack customer service vibe especially in being helpful or answering questions

1 year ago

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Reply from Regional Finance

Hi Cam, 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 our website so that we can discuss this matter in more detail.

Aug. 5th, 2021

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Stacy Brock Hiram, GA

RFC did not report all payments every month and they did not report that the account was paid in full accurately

5 months ago

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Reply from Regional Finance

Hi Stacy, 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.

Jun. 15th, 2022

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Douglas w Botten

Interest rates are ridiculous.I have been a customer for a long time.Always paidgood, Thought,I might have got a better rate

7 months ago

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Reply from Regional Finance

Hi Douglas, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

May. 2nd, 2022

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Wayne McDonald Jr Supply, NC

The store I deal with are very friendly people and easy to work with. My only problem was being told to sign for things that most places give you options if you want them or not. Now I'm repaying double the amount borrowed.

1 year ago

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Reply from Regional Finance

Hi Wayne, 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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Janathan Bullard El Paso, TX

Somewhat trouble some to get the loan and the interest rate is insane. Could of done a better loan with someone else.

7 months ago

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Reply from Regional Finance

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

May. 2nd, 2022

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Jackie L Sawyer Anniston, AL

Because I really only wanted a deferred payment due to Covid and was told I couldn't and my only option was to renew. Now in hospital and even more stressed out!

1 year ago

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Reply from Regional Finance

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

Aug. 4th, 2021

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Kiara Richardson West Columbia, SC

Interest rates are high. Customer service was always pleasant. Very helpful and understanding of financial hardships.

10 months ago

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Reply from Regional Finance

Hi Kiara, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Jan. 25th, 2022

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Tom Barrett Aubrey, TX

Had loans with before, paperwork and getting approved took longer than expected

11 months ago

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Reply from Regional Finance

Hi Tom, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Dec. 27th, 2021

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Billy Dwayne Horn Clovis, NM

Can never get through when calling, and I can't even get to website. No information on my loan.

11 months ago

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Reply from Regional Finance

Hi Billy, 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

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Mary Jane witt El Paso, TX

Just for emergency use but would not use them if I didn't need to but due to Covid I needed it ASAP

11 months ago

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Reply from Regional Finance

Hi Mary Jane, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Dec. 8th, 2021

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Cheri Brand Memphis, TN

The check was mailed to me without applying for it. I really needed it, but the interest rate is too high.

1 year ago

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Reply from Regional Finance

Hi Cheri, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Jun. 22nd, 2021

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Leon Boris Lopez Manassas, VA

several communications problems this site has a lot complicated system to go in

9 months ago

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Reply from Regional Finance

Hi Leon, we appreciate you sharing your experience with us. Your feedback helps us to identify areas where we can improve. Thank you!

Feb. 23rd, 2022

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Lawrence Dancer Odessa, TX

Okay with the process just taken aback on the rate of interest

9 months ago

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Reply from Regional Finance

Hi Lawrence, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Feb. 17th, 2022

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Mel Tijeras, NM

Loan specialist was very attentive and on the job. Interest rate was much more than anticipated.

1 year ago

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Reply from Regional Finance

Hi Mel, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Nov. 8th, 2021

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Ray Spacagna Albuquerque, NM

Initial loan was great... Went to refinance and underwriter had no clue as to reading a paystub

1 year ago

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Reply from Regional Finance

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

Sep. 9th, 2021

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Reginald Boyd Jr Salisbury, NC

It was an ok experience! It took longer than I thought to get through the process it was ok!

1 year ago

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Reply from Regional Finance

Hi Reginald, we appreciate you sharing your experience with us. Your feedback helps us to know what we are doing right and to identify areas where we can improve. Thank you!

Jun. 29th, 2021

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Angela Selby Madison, AL

Not enough experience w them to know yet

9 months ago

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Reply from Regional Finance

Hi Angela, thank you for your feedback.

Mar. 4th, 2022

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Lakisha D Moore Columbia, MO

Not giving enough Information about things on my loan

11 months ago

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Reply from Regional Finance

Hi Lakisha, 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 on our website so that we can discuss this matter in more detail.

Dec. 30th, 2021

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Sherby spivey Cedar Park, TX

Need to explain insurance charges better

1 year ago

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Reply from Regional Finance

Hi Sherby, 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.

Oct. 12th, 2021