Brand Overview: 1st Franklin Financial
1st Franklin Financial is a privately held financial services company specializing in consumer installment loans and retail financing. Founded in 1941 by Ben F. Cheek in Toccoa, Georgia, the business operates under 1st Franklin Financial Corporation and has grown into a regional lender serving communities across the southeastern United States.
Contact Info
Customer Support Email: A public customer support email for individual loan servicing is not available due to borrower privacy policies; account holders are directed to use the secure contact form on the official website. For investment inquiries, the company provides [email protected].
Phone Number: 1-800-700-7943 (Customer Care Team) or 1-833-689-5626
Industry and Operations
1st Franklin Financial operates within the non-bank consumer lending and financial services industry. The business model centers on community-focused branch lending, supported by an online portal, with hundreds of locations across ten states including Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, Texas, and Virginia.
- Personal Installment Loans: Fixed-rate loans tailored for debt consolidation, medical bills, home repairs, and unforeseen personal expenses.
- Retail Sales Financing: Point-of-sale financing partnerships with retail businesses for consumer goods such as furniture, appliances, and electronics.
- Secured Loans: Credit products backed by personal collateral, such as automobile titles.
- Investment Securities: Debt securities, including senior demand notes and variable-rate subordinated debentures, available to eligible investors.
User Sentiment
User feedback and public review profiles for 1st Franklin Financial show a critical pattern of consumer dissatisfaction regarding loan terms, collection methods, and account administration. The most prevalent complaints focus on the following issues:
- High Interest Rates: Borrowers report steep interest charges and financing fees, noting that the long-term cost to borrow makes repayment burdensome.
- Bundled Add-On Products: Customers express frustration over supplementary charges, such as credit life and disability insurance, added to loan contracts without clear disclosure or consent.
- Aggressive Collection Efforts: Multiple reviewers report high-frequency phone calls to borrowers, family members, or workplace contacts as soon as an account becomes past due.
- Account Portal and Payment Glitches: Users cite difficulty accessing the online portal, recurring account lockout errors, and delays in recording submitted payments.
- Payoff and Credit Reporting Disputes: Consumers report issues obtaining accurate payoff amounts, delays in closing satisfied accounts, and disputed negative marks sent to credit bureaus.
Share Your Experience
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