Regional Finance Loan Glossary

Regional Finance Terms A to Z

Jump to a letter: A · B · C · D · F · H · I · L · N · O · P · R · S · T · U

A

Amortization

How each fixed payment is split between interest and principal over the life of an installment loan. Early payments are mostly interest; later ones mostly principal. Learn more

Amount financed

The credit you actually receive after prepaid finance charges, such as an origination fee, are deducted. It appears on your Truth in Lending disclosure. Learn more

Annual percentage rate (APR)

The yearly cost of credit expressed as a percentage, including interest and certain fees. The best single number for comparing Regional Finance loan offers. Learn more

Autopay

Automatic monthly payments drawn from your bank account. It is the easiest way to avoid late fees. Learn more

B

Branch

A local Regional Finance office where loans are often finalized and serviced. Regional Finance reported 353 branches at year-end 2025. Learn more

C

Collateral

Property pledged to secure a loan, most often a vehicle for larger Regional Finance loans. Learn more

Consumer Financial Protection Bureau (CFPB)

The federal agency that writes and enforces consumer financial rules and accepts complaints about lenders. Learn more

Credit bureaus

Experian, Equifax and TransUnion, the companies that collect payment history and produce credit reports. Learn more

Credit insurance

An optional product that may cover loan payments in certain events, such as disability. It adds cost, and you can usually decline it. Learn more

D

Debt consolidation

Using one new loan to pay off several existing debts, leaving a single fixed payment. Learn more

Debt-to-income ratio (DTI)

Your monthly debt payments divided by gross monthly income. Lenders use it to judge whether a new payment is affordable. Learn more

F

Finance charge

The total dollar cost of credit: all interest plus prepaid finance charges over the life of the loan. Learn more

Fixed rate

An interest rate that stays the same for the whole loan, so the monthly payment never changes. Learn more

H

Hard inquiry

A credit check made when you apply for credit. It may lower your score slightly for a short period. Learn more

I

Installment loan

A loan repaid in equal scheduled payments over a set term. Every Regional Finance personal loan is an installment loan. Learn more

L

Large installment loan

Regional Finance's loan tier from $2,501 to $35,000, with terms of 18 to 60 months. Learn more

Late fee

A charge added when a payment arrives after the due date or grace period. Amounts are limited by state law. Learn more

Lien

A lender's legal claim on property, such as a car title, until the loan is repaid. Learn more

Live check

A pre-approved loan check mailed to consumers. Cashing it creates a loan with the stated terms. Learn more

N

NSF fee

A non-sufficient funds fee charged when a payment is returned unpaid by your bank. Learn more

O

Origination fee

A one-time fee for processing a loan, often deducted from the proceeds. Reported at up to about 10% depending on the state. Learn more

P

Payoff amount

The exact sum needed to close a loan on a specific date, including interest accrued to that date. Learn more

Prepayment penalty

A fee for paying a loan off early. None has been reported for Regional Finance loans. Learn more

Prequalification

An early estimate of loan options based on a soft credit check. It does not affect your credit score. Learn more

Principal

The amount borrowed, not including interest or fees. Learn more

R

Refinancing

Replacing an existing loan with a new one, often to change the payment or term. Compare the total cost before and after. Learn more

S

Secured loan

A loan backed by collateral that the lender can claim after default. Learn more

Small installment loan

Regional Finance's loan tier from $500 to $2,500, with terms of 6 to 48 months. Learn more

Soft credit check

A credit review that does not affect your score, used for prequalification. Learn more

State license

Authorization from a state regulator to make consumer loans. Regional Finance is licensed in each state it serves. Learn more

T

Term

The length of the loan in months. Regional Finance terms run from 6 to 60 months depending on loan size. Learn more

Total of payments

Everything you will pay over the loan's life if you make every payment on schedule. Learn more

Truth in Lending Act (TILA)

The federal law requiring lenders to disclose APR, finance charge, amount financed and total of payments before you sign. Learn more

U

Unsecured loan

A loan approved on income and credit alone, with no collateral. Learn more