Regional Finance Reviews: What Borrowers and Reviewers Say

Regional Finance reviews at a glance

Regional Finance gets strong marks for in-person service and access for fair-credit borrowers, and weaker marks for cost. Most negative feedback focuses on high APRs, fees, and billing or payment issues.

Below we gather what major review sites published, as reported on their pages. Ratings change over time, so check each source for its latest figures before you decide.

What borrowers like about Regional Finance

Common Regional Finance complaints

Finder lists the most frequent complaint themes. Knowing them helps you ask the right questions before you sign.

• High APRs. Advertised APRs on larger loans run around 24% to 35.99%, and some customers report rates above 60% on smaller loans in certain states.
• Fees. Origination fees (up to about 10% depending on state), late fees, NSF fees, and a reported $2.95 processor fee for some one-time payments.
• Billing and payment issues. Some borrowers report problems applying payments correctly.
• Credit reporting disputes. Complaints mention inaccurate reporting to the credit bureaus.
• Mailed live checks. Reddit users describe unsolicited live checks sent by mail, sometimes cashed by the wrong person.

Is Regional Finance legit?

Yes. Regional Finance is the consumer-lending brand of Regional Management Corp., a publicly traded company (NYSE: RM) headquartered in Greer, South Carolina, and founded in 1987. It operates licensed branches and reports to the major credit bureaus.

Being legitimate does not make a loan cheap. The real question is whether a specific offer fits your budget. Compare the APR, total cost, and fees on the Truth in Lending Act disclosure with at least two other options.

Start with our Regional Finance overview, then review the rates and fees and requirements pages.

How to weigh Regional Finance reviews

1. Check the date. A review from 2019 may describe policies that have changed.
2. Look for patterns. One angry post is noise. Ten posts about the same fee are a signal.
3. Separate service from price. Friendly staff and a high APR can both be true.
4. Match the state. Rates and fees vary by state law, so reviews from your state matter most.
5. Verify with documents. Your loan agreement is the final word, not a review.

How to file a complaint about a lender

If you have a problem with any lender, start with the lender's customer service and keep a written record. If that does not resolve it, you have options.

1. CFPB. Submit a complaint at consumerfinance.gov/complaint. The CFPB forwards it to the company and tracks the response.
2. Your state regulator. Consumer lenders hold state licenses. Your state's financial regulator or attorney general can investigate.
3. Credit report errors. Dispute directly with Experian, Equifax, or TransUnion, and with the lender that reported the data.
4. Fraud. Report scams to the FTC at ReportFraud.ftc.gov.

Regional Finance reviews by topic

Reviews tend to cluster around a few parts of the borrowing experience. Here is what to expect at each stage, based on the themes third-party sources report.

Applying and approval

Borrowers often describe the prequalification step as quick, because it uses a soft credit check. Approval can take longer than with fully online lenders, since Finder reports that documents may need to be submitted and the loan signed at a branch. Reported approval times run about 24 to 48 hours.

Branch experience

Positive Regional Finance reviews frequently mention branch staff by name and describe personal help. That is a real advantage of a branch network of 353 locations. The flip side is that your experience can depend on your local branch.

Cost of the loan

Cost is the most common complaint. Fair-credit installment loans carry higher APRs than bank or credit union loans, and an origination fee raises the APR further. Reviewers who felt surprised by the cost often say they focused on the monthly payment instead of the total of payments.

Servicing and payments

Some reviews describe payment posting problems or a processor fee for one-time payments. Setting up autopay, keeping every receipt, and checking your statement each month helps you catch issues early.

Credit reporting

Because Regional Finance reports to the credit bureaus, on-time payments can help your credit history. Several complaints involve reporting errors, so review your credit reports at least once a year for free at AnnualCreditReport.com.

Questions to ask before you accept a Regional Finance offer

• What is the APR, and what is the total of payments over the full term?
• Is there an origination fee, and is it deducted from the loan amount?
• Is the loan secured by my vehicle or other collateral?
• Is optional credit insurance included, and can I decline it?
• Can I pay early without a penalty, and how do I get a payoff quote?
• Which payment methods are free?

Use our loan calculator to test the numbers, and read our Regional Finance FAQ for quick answers.

Regional Finance reviews FAQ