1st Franklin Financial has been providing financial solutions to local communities across the southeast for over 75 years. Today, it has over 320 branches and is a trusted source for affordable loans and other services. The company advertises its services on 1ffc.com.
1st Franklin Financial Summary
With so many loan options available, it can be tough to decide which one is right for you. You want to choose a lender that will best fit your needs, so it’s important to do your research before making a decision.
One option that has been getting a lot of attention lately is 1st Franklin Financial. But is this lender the best choice for you? Here’s a closer look at what they offer so you can make an informed decision.
After taking a closer look at their website and terms and conditions, there were some key points that stood out. These are the things that caught our attention.
- The maximum APR is 21.99%, and fees and interest rates vary by state.
- Repayment terms of 18, 24, 36, 48, and 60 months are available.
- 1ˢᵗ Franklin Financial offers loans up to $15,000.
- Premier loan availability is limited to current and former premier loan customers, for a limited time.
- Loans from 1st Franklin Financial cannot be used for expenses related to education or vocational training, to purchase securities, for business purposes, gambling, or illegal activities.
What is 1st Franklin Financial?
1st Franklin Financial Corporation is a company that provides financial assistance to customers. The company has been in business since 1941 and is headquartered in Toccoa, GA. Customers can reach 1st Franklin Financial Corporation by calling (706) 886-7571.
1st Franklin Financial has an A- rating from the Better Business Bureau (BBB), but is not accredited by the BBB. The company has an average of 18 customer reviews and 63 complaints closed in the last 3 years, resulting in a 1.5-star out of 5-star rating from customers.
How does 1st Franklin Financial work?
1st Franklin Financial has branches in six states: Georgia, Alabama, South Carolina, Mississippi, Louisiana, and Tennessee. With a total of 110 operating branches, Georgia has the most 1st Franklin Financial branches, while Tennessee has the least with 21. Individuals and families living in these states are likely to find a branch close to them that will be able to provide them with a personal loan.
1st Franklin Financial offers quick approval times for loan applications, with some decisions possible as soon as the next day. However, applications submitted over the weekend will not be reviewed until the following Monday, and responses will be sent shortly after review.
Once a borrower meets with a 1st Franklin Financial associate at one of 1FF’s many branch locations, funding will be dispersed to their bank account. However, it may take until the next day or longer for the funds to be transferred to your account.
How to qualify?
The application process can be started online by clicking the “Apply Now” button. In most cases, 1FF staff will contact you within two business days to discuss your application and answer any questions. Final loan decisions are made at your local 1ˢᵗ Franklin Financial office and are based on factors such as your credit history, payment history, and ability to make monthly payments.
Once you apply a loan representative will be in touch with you shortly to discuss your loan options. Once approved, you could have the money you need as soon as the next day. Please note that applications submitted outside of business hours will not be processed until the following business day. In some cases, approval is only a few hours away.
1st Franklin Financial BBB Reviews
1st Franklin Financial has an A- rating from the Better Business Bureau (BBB). They have an average of 18 customer reviews and 63 complaints closed in the last 3 years. As a result, customers have given them a 1.5-star out of 5-star rating on the BBB website.
Here are some reviews:
patsy h 06/27/2022
Annette S 06/13/2022
Barbara S 11/18/2021
1st Franklin Financial FAQs
How much does 1st Franklin Financial charge?
1st Franklin Financial provides personal loans with APRs of up to 21.99%. Loan terms of 18, 24, 36, 48, and 60 months are available, and fees and interest rates vary by state.
For example: For a loan of $3,650 with a 36-month repayment period, an interest rate of 19.81%, a $109.50 origination fee, and an APR of 21.99%, the borrower will make 36 monthly payments of $139.37.
Are there any pre-payment penalties?
Personal loans from 1st Franklin Financial come with no hidden fees – including no prepayment penalty for borrowers who want to pay off their loan before the end of the term. In addition, personal loans have fixed rates and payments, so you’ll always know what you’re expected to pay.
How does 1st Franklin Financial affect your credit?
It’s important to understand the process and how your credit score may be impacted before applying for a loan.
Most lenders will perform a soft credit check initially, which won’t affect your credit score. However, once you decide to proceed with the actual loan application, the lender will need to do a hard credit inquiry to get a full view of your credit history and offer you final rates. These hard inquiries will lower your credit score.
How to cancel 1st Franklin Financial?
Before taking out a personal loan, make sure you are confident in your decision. You will not be able to change or undo the transaction once the funds have been deposited into your account, so double-check beforehand to avoid any complications later on.
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Do you find yourself living paycheck to paycheck? Here is some advice that may help you get back on track.
It is important to be mindful of your finances and budget accordingly, regardless of your current financial situation. By taking a few simple steps, you can get your finances in order and set yourself up for success in the future.
- One such step is to create and stick to a budget. This will help ensure that your spending is kept under control and leaves room for other essential expenses.
- Another great tip is to consult with a financial advisor who can help explain your different options as well as set up a plan that suits your unique circumstances.
- And lastly, try not to stress too much about debt. Many companies are understanding and willing to work with customers in order to create a more manageable payment plan–all it takes is reaching out to their customer service team for more information.
Is 1st Franklin Financial legit or a scam?
1st Franklin Financial has been providing customers with helpful financial assistance for many years. They have an A- rating from the BBB but are not accredited by them. In addition, their customers have given them a 1.5 out of 5-star rating due to all the negative reviews.
Taking out a loan can be a big decision. It’s important to compare interest rates and repayment terms from different lenders, and doing your research ahead of time can help you choose the best option for you.
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1st Franklin Financial
1st Franklin Financial Review
1st Franklin Financial has been providing customers with helpful financial assistance for many years. They have an A- rating from the BBB, but are not accredited by them. In addition, their customers have given them a 1.5 out of 5-star rating due to all the negative reviews.