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Regional Finance personal loans review

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You may be able to borrow up to $10,000 — as long as you can back it with collateral.

You don’t have to have great credit to apply with Regional Finance. But it’s not available in all states and you might end up paying a back much more than you borrowed.


Max. Loan Amount




Min. Credit Score


Product NameRegional Finance Personal Loans
Min. Loan Amount$600
Max. Loan Amount$10,000
Interest Rate TypeFixed
Min. Credit Score550
Minimum Loan Term0.75 years
Maximum Loan Term2 years

Where does Regional Finance have branches?

Regional Finance services the following states:
  • Alabama
  • Georgia
  • Missouri
  • New Mexico
  • North Carolina
  • Oklahoma
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Wisconsin

If you don’t live near a Regional Finance location, you might want to consider your other short-term loan options.

What is Regional Finance?

Regional Finance offers secured loans between $600 to $10,000, though the specific amount may vary by state. Loan terms can stretch anywhere from 9 months to 2 years .

You’ll be asked for collateral to keep the costs of your loan low, but it means you risk losing your security if you default. Regional Finance might also ask for borrowers to take out property insurance for collateral on larger loans, which can increase your monthly payments.

What makes Regional Finance unique?

Unlike many lenders operating online, Regional Finance maintains a personal touch. With branches located in eleven states, you can apply for a loan while working with someone who can guide you through the application process. This type of one-on-one service is rare with most lenders available only online and at call centers.

What are the benefits of a personal loan from Regional Finance?

  • Over 300 branches. Despite being in a limited number of states, Regional Finance has 355 branches to help make your loan experience personal. You can find your nearest branch by entering your ZIP code in the branch locator on its site.
  • No bank account required. Don’t have a bank account? You might still qualify for a loan with Regional Finance if you can show proof of income and residence as well as meet Regional Finance’s credit requirements.
  • Bad credit OK. Don’t have good credit? That’s fine. Regional Finance accepts applicants with credit scores as low as 550.
  • Reports to credit bureaus. Regional Finance reports your payments to Equifax and TransUnion. This means you have a chance to build your credit while paying down your loan.

What to watch out for

  • Limited state availability. Regional Finance only services 11 states: Alabama, Georgia, Montana, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and Wisconsin.
  • No automatic deposit. You’ll receive your funds by check. No automatic transfers are available with Regional Finance.
  • Poor reviews. Many complaints cite a late or missed payment led to phone calls multiple times a day, often to the borrower’s work or personal references.

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What does the Internet say about Regional Finance?

Regional Finance doesn’t have much of an online presence as of September 2018. It’s not accredited by the Better Business Bureau (BBB), although it has an A rating based on factors like time in business and transparency. However, there are only a handful of reviews and complaints. On both the BBB website and other review sites, multiple borrowers complained about receiving harassing phone calls after missing a repayment.

The few positive reviews state that they had a positive experience with Regional Finance, though it appears that the quality of service can vary from branch to branch. One even reported transferring their loan from one branch to another to get better service.

Should I get insurance with a Regional Finance loan?

Regional Finance offers a few different insurance products to combined with your loan: life, involuntary unemployment, accident, auto and personal property insurance. These may vary depending on your state, but none of them are necessary or even beneficial.

Personal property insurance covers your collateral. Your loan may require you to have it, but check first. There’s a chance you’re already covered by homeowner’s or renter’s insurance.

The other four types of insurance may only benefit you if you fear the worst might happen during the life of your loan. Otherwise, it’s just an added unnecessary expense. There’s also a chance you could get a better deal on insurance elsewhere that last longer than the life of your loan.

Am I eligible?

To apply for a personal loan from Regional Finance, you’ll need to meet some basic eligibility criteria:

  • Live in a state serviced by Regional Finance
  • Have a credit score of at least 550
  • Be a US citizen or permanent resident
  • Be at least 18 years old

How do I apply?

  1. Visit the Regional Finance website and click Start Loan Process.
  2. Once redirected to a new page, hit Click to Prequalify.
  3. Select the type of loan and enter your requested loan amount.
  4. Enter your contact information, including your birth date and Social Security number.
  5. Enter information about your residence.
  6. Read over the authorization statement, the Terms of Use and the E-Sign Disclosure.
  7. Hit Continue at the bottom of the page to submit your application.

A loan specialist from Regional Finance should get in touch with you within 24 to 48 hours if you prequalify. From here, they work with you to complete your final application. You typically need to bring a copy of a government-issued ID, proof of residence and income.

I got a personal loan. Now what?

Regional Finance doesn’t disburse the funds directly into your bank account, so you’ll need to visit your local branch to pick up your check. After you have the money, it’s time to start thinking about repayments. Regional Finance allows you to make repayments online, by phone, at a branch or by mail.

If you want to set up automatic payments, you can do so through your online account. However, Regional Finance requires you to make the last two monthly payments using one of its other options.

Bottom line

If you’re looking for a small to midsize loan and have bad credit, Regional Finance could help. The ability to walk into a local branch and discuss a solution with a real person sets Region Finance apart from other lenders.
But with no direct deposit and high origination fees, your loan could end up costing much more than you initially expected.

Before you commit to a lender, consider comparing your loan rates to get the best deal for your money.

Frequently asked questions

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  1. Default Gravatar
    July 10, 2019

    My credit score is around 580. I do not have a checking account my check goes on to a card provided thru First State Bank. Are there any loan options out there for me?

    • AvatarStaff
      July 12, 2019

      Hi Gracie,

      Thank you for getting in touch with Finder.

      If you consider getting a loan with Regional Finance, you might still qualify for a loan with them event without a bank account so long that you can show proof of income and residence as well as meet Regional Finance’s credit requirements.

      You may also check out this page for your bad credit loan option and this page for lenders who do not require bank accounts.

      Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!


  2. Default Gravatar
    June 17, 2019

    My credit is a little under 550 but I have an emergency and need a loan of at least 1000 without those depositing directly in your account scams. What can I do?

    • AvatarStaff
      June 20, 2019

      Hi Anthony,

      Thank you for getting in touch with Finder.

      Kindly check out this page to start comparing your bad credit loan options. Most lenders require you have a checking account when you reply because they use it to deposit your funds and withdraw your payments. Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!


  3. Default Gravatar
    December 19, 2018

    Where can i apply for a small loan no direct deposit i eant through check

    • AvatarStaff
      December 20, 2018

      Hi Info on small loans,

      Thank you for leaving a question.

      You may click on this link to compare providers for personal loans. Though for the repayment options, you may need to directly speak with the provider if they allow checks as payments. Hope this helps!


  4. Default Gravatar
    November 25, 2018

    Can I get Loan $5000

    • AvatarStaff
      November 26, 2018

      Hi Naresh,

      Thanks for your inquiry and for visiting our page. You may certainly get a loan at Regional Finance. To get started, be sure to review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the product disclosure statement of the product and contact the lender should you need any clarifications about the loan. Hope this was helpful. Don’t hesitate to message us back if you have more questions.


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