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Regional Finance Personal Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

A Regional Finance personal loan might be ideal for customers with less-than-perfect credit who need secured personal loans. Regional Finance offers a straightforward lending process — simply complete a quick online prequalification questionnaire. Also, there are no upfront fees.

However, Regional Finance only offers secured loans, which means collateral is required. Read on to find out if a Regional Finance personal loan is for you.

Regional Finance personal loan highlights

  • Perfect credit isn’t required: The company stresses on their website that they work with borrowers who have less-than-perfect credit, even if the loan is needed for debt consolidation.
  • No application fees: The company doesn’t charge any fees until your loan is finalized.
  • Secured loans only: The company exclusively offers secured loans, meaning they require collateral in the form of valuable personal items, which may include things like TVs, cars and other electronics.
  • Small loan amounts: Regional Finance offers fixed-rate, fixed-term loans between $600 to $10,000.
  • Insurance required: Insurance is required for all items being used as collateral.

Regional Finance at a glance

  • APR range: Not specified
  • Minimum credit score: Not specified
  • Terms: Vary by state
  • Origination fee: No origination fees
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Terms Fees and penalties
  • Terms: Vary by state by customer but are fixed in all cases.
  • APR: Not specified.
  • Loan amounts: $600 to $10,000
  • Time to funding: 2-3 days
  • Credit check: Soft Pull
  • Origination fee: No origination fees.
  • Prepayment fee: Not specified.
  • Late payment fee: 5% of each installment payment with a maximum of $10
  • Other fees: For nonsufficient funds and payment deferral.

Eligibility requirements

  • Minimum credit score: Not specified
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

Insured collateral is required when applying for a secured loan with Regional Finance. Other eligibility factors vary by the applicant but are generally based on things like credit history, income and the value of the collateral.

What borrowers are saying about Regional Finance

Although there are a limited number of reviews for Regional Finance, borrowers seem to be in agreement about the things the company does well.

“Easy to work with,” wrote Leia from Norcross, Ga. “Quick application turnaround. Local office. I’m old fashioned, I like to meet the people who handle my loan in person.” Another reviewer appreciated the fast turnaround on their application and the fact that the loan was closed in person.

A third reviewer found the rates to be competitive. “According to my sources, Regional Finance is [a] fair and low-interest lender,” said Tefera from Stafford, Texas.

Applying for a personal loan from Regional Finance

Applying for a loan with Regional Finance is a relatively straightforward process.

You’ll complete a quick prequalifying questionnaire online to determine if you meet the company’s initial eligibility requirements. This will include basic questions like:

  • Your name and address
  • Social Security number
  • Amount you’re looking to borrow
  • Whether you rent or own property and how long you’ve been living at the property

This questionnaire will result in a Soft Pull — meaning it won’t impact your credit score.

Once prequalified, the loan process with Regional Finance moves fast. You’ll either reach out to a local branch or receive a call from one within 24 to 48 hours. Plan on bringing valid identification, proof of residence, proof of income and any other documentation specified by your loan specialist to the appointment.

Once you’ve signed your loan documents at the branch, you can expect to receive a check for your funds the same day.  If you don’t prequalify for a loan with Regional Finance, you’ll receive an email or mailed letter explaining why.

Pros Cons
  • No loan application fees: You won’t be charged for anything by the company prior to receiving your loan with them.
  • Perfect credit isn’t required: Although the company doesn’t specify minimum credit requirements, it does state that perfect credit isn’t necessary.
  • Fast application turnaround: You may receive funding in as little as 2-3 days from the time of completing your prequalification.
  • Collateral required: Personal loans with Regional Finance are secured, meaning you’ll be required to provide collateral for the loan.
  • Collateral must be insured: Because your loan is backed by this collateral, it’s also required to be insured.
  • Must visit lender branch: Although prequalification can be done online, you’ll be required to visit a local branch to close on your loan.

Who’s the best fit for a Regional Finance personal loan?

Regional Finance is a great fit for someone in need of a small personal loan who doesn’t mind using their car or other valuable possessions as collateral. Keep in mind that collateral must also be insured — which is an expense to account for.

This lender is also a good choice for people with less-than-perfect credit, since the company positions themselves as being a lender for those people, too. No application fees and a Soft Pull on your credit make it easy to apply and find out what you may qualify for without any commitment.

A personal loan with Regional Finance wouldn’t make sense for anyone who needs to borrow a large sum or anyone who isn’t comfortable with the idea of collateral.

Alternative personal loan options

Old National Bank

  • APR: 8.12% – 17.51%
  • Minimum credit score: Not specified
  • Terms: Not specified
  • Origination fee: Not specified

Old National Bank might be a good alternative for borrowers considering Regional Finance. Old National Bank offers slightly larger fixed-rate personal loans for borrowed amounts of up to $25,000. Further, you won’t need collateral in order to be eligibile for a loan.

Discover Bank

  • APR: 5.99% – 24.99%
  • Minimum credit score: Not specified
  • Terms: 36 to 84 months
  • Origination fee: No origination fee

Discover Bank has slightly more flexible loan terms and a larger lending threshold than Regional Finance. They offer unsecured personal loans for amounts of up to $35,000.

The APR ranges from 6.99% to 24.99% APR based on creditworthiness at time of application. Loans up to $35,000. Fast & Easy Process. Terms are 36 to 84 months. No prepayment penalty. This is not a firm offer of credit. Any results displayed are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For example, for a $15,000 loan with an APR of 10.99% and 60 month term, the estimated monthly payment would be $326. The estimated total cost of the loan in this example would be $19,560.

Santander Bank, N.A

  • APR: 6.99% – 16.99%
  • Minimum credit score: 0
  • Terms: 24 to 60 months
  • Origination fee: No origination fee

Santander Bank, N.A offers loans with relatively moderate credit requirements. You can borrow up to $50,000 for 24 to 60 months with fixed rates — no collateral required.


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