1st Franklin Personal Loans Review

1st Franklin Personal Loans Review1st Franklin Personal Loans says they can get you a short term personal loan, so it’s sort of like a payday loan in that regard. They say that you can apply today and get the process started.

It’s interesting to point out that you will have to enter your social security number during the application process, but they do not state whether your credit will be checked or whether they’re using your job as your collateral for the loan. Payday loans make it clear that they don’t check your credit, but this is a personal loan, so perhaps there is a credit check, and maybe you’re able to pay it off in installments.

1st Franklin Personal Loans Review – Loan or Invest

1st Franklin Personal Loans is one of the first places we’ve noticed that have the ability to take out a loan and also to invest. It’s worth noting because most lenders just offer payday loans or other short term loans and only want to collect the fees, they are the ones investing and they don’t want you to invest with them, they just want to take your interest and fees and pad their coffers.

You Can Also Invest
They say that you can also invest with them, and that they may be able to provide higher paying investments than what’s out there. This is the first time we’ve ever seen a lender that also let’s you invest with them. This shows that they don’t expect you to keep borrowing from them again and again, and that when you get on your feet financially you can use them to have your money make money.

And that’s really what it’s all about, having your money work for you rather than doing all the work yourself. If you make a few wise investments you won’t have to loan short term money anymore. It’s nice to go with a company that can get you through the rocky times and then set you up for smooth sailing later.

There isn’t much that you can’t do with a company like this, so it basically comes down to doing what needs to be done in the moment, without getting down about your finances right now. Always look forward to the future and what you’ll be doing when this situation has passed. Getting caught up in the drama of having low funds will only keep you in that vibrational state, and the problem will just resurface again and again.

$300 Minimum Loan
1st Franklin Personal Loans offers loans as low as $300. Typical local payday lenders will start at $100 so this is a rather high minimum amount. If you need a lower amount than this you’re better off going with a payday lender, as their fee will be lower and the amount you borrow and pay back will be lower, so you don’t have to stress out about taking out more than you need.

Maybe it’s a higher minimum because you get to pay it back in installments. A payday loan will be due back in two weeks or on your next payday, while a personal loan may be 3 monthly payments of $100 each plus the fees and interest. Depending on what makes the most sense in your situation, you’ll want to go with the right numbers.

The Loan Process
They say that the application takes just ten minutes to complete, and that you can visit a branch to get your money faster, and that you can save your information if you want to complete the application at a later time. It’s unclear whether the entire process can be done online, or whether you need to visit a branch in order to complete the loan. They don’t loan nationwide, so you’ll have to put your zip code in to see whether or not they’ll do business in your area.

Our Recommendation
1st Franklin Personal Loans would definitely be a company that we would go with to take out some short term cash. They have everything in order as far as their online presence goes, and they have real world brick and mortar offices that you can visit, which makes them about 100 times more credible than an online-only business.

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