Skip to content

Security Finance Review: The Best Installment Loan Company With Guaranteed Approval For Bad Credit Loans

Security Finance Review

When you find yourself in financial distress, you want to get a loan from a lender with a good reputation in the industry. A reliable company in the industry is Security Finance.

The company offers personal loans in over 1,400 locations across the United States. You can borrow installment loans, payday loans, home loans, and other personal lines of credit even if you have less-than-perfect credit.

Typically, payday loan amounts start as low as $100, but the maximum and minimum amounts may vary by state. With Security Finance, you can get short-term loans that are often due the next payday.

So, when borrowing this type of loan, make sure you can honor the agreement as defaulting can result in penalties. The lender offers both secured and short-term unsecured loans.

So if you want a significant amount, you can opt for a title loan, which is calculated based on the value of your vehicle. However, if you only need a small amount to meet a financial emergency, a payday loan would do the trick.

Are you interested in this type of loan? If so where would you get it? To answer all your questions, we review Security Finance, a leading installment provider in the country that operates in almost all states that allow this loan service.

What Is Security Finance?

Security Finance is a financial services company specializing in the provision of traditional consumer credit, credit reporting, and the provision of loan and tax preparation assistance.

It has a nationwide presence, all you have to do is find the nearest or most convenient branch.

Although the company is not a payday lender, it does offer same-day loans for emergencies and unexpected bills like car repairs, medical expenses, or other unbudgeted expenses.

So are you wondering about the quality of their service? You might want to know more about them. Here’s a comprehensive report that tells you everything you need to know about this company, founded in 1955.

How Does The Security Finance Loan Work?

Security Finance is licensed to offer traditional installment loans that vary in amount, terms, and ancillary products available depending on the state of operation and the type of license purchased in that state.

Security Finance Loan
Security Finance Loan

Security Finance is a financial services company with more than 1,400 offices across the United States. The company specializes in short-term loans, payday loans, and installment loans.

These are products that are known to have high interest due to their short-term nature and do not require good credit or collateral. The loans are perfect for someone who is in financial distress and needs cash fast.

To get the loan you need to follow these three simple steps:

  • Fill out an application form online. To apply for a loan, you can call your nearest branch, apply in person during business hours, or submit your loan request online.
  • Once the application is complete, a member of the Security Finance team will contact you to discuss your credit needs. If you proceed with a loan application, the Company will complete a screening and underwriting process to determine if you are eligible for the amount of credit you are requesting.
  • Visit the store and get the money.

If you choose to become a Security Finance customer, you can make your monthly payment by cash, check, money order, or debit card at the branch where you received the loan.

If you prefer, you can also send a check, or money order, or use a mobile app to make your monthly payment.

Security Finance Online Application Process

Unlike most providers where you can complete your application online, for Security Finance you can start online but you will need to visit or call your local branch to complete the application.

This approach can be an inconvenience. On the one hand, some people are conservative and don’t like to share their personal information online.

Complete the Inquiry Form – Click on ‘Need a Loan‘ on the lender’s home page and fill out the following inquiry form which will help the lender identify your local branch.

The information required here includes:

  • Zip Code.
  • Full name.
  • Address.
  • phone number
  • loan amount.

Once you’ve filled out the information, tell how the lender found out about it and agree to the terms and conditions of the loan.

This online application process is a loan request only and staff will contact you to go through the application. However, there are a number of conditions that you must meet in order to proceed with the application process.

Security Finance Loan Requirements: Eligibility

If you are a member of the Armed Forces on active duty, active duty guard, or active reserve duty, you are not eligible for a loan from Security Finance Corp. The same applies to your spouse or dependents under the new provisions of the Military Lending Act. Otherwise, you must:

  • Be at least 18 years old
  • Be a permanent resident of any of the 14 states that operate it.
  • Provide your social security number
  • Enter your monthly expense items.
  • Submit proof of income
  • Agree to credit checks

Once you provide all the details above, the application will go to verification and it will take an hour for the store customer support to get back to you.

If all of the information you provided has been verified, your request will be approved or denied within an hour of submission.

However, in some cases, it takes longer. Still, the lender streamlined the process. It’s fairly quick, and if successful, your check can be ready the same day.

How To Find Security Finance Near You

Security Finance has offices across the US making it easy to find the financial solution you need. Find your nearest office location by entering your zip code in the location finder.

 Find Security Finance Near You
Find Security Finance Near You

Security finance opening hours

1Monday9:00 AM – 6:00 PM
2Tuesday9:00 AM – 5:00 PM
3Wednesday9:00 AM – 5:00 PM
4Thursday9:00 AM – 5:00 PM
5Friday9:00 AM – 6:00 PM
Security finance opening hours

Products Of Security Finance

Security Finance, headed by US Navy Jesse L., began by offering traditional installment loans with a fixed monthly payment of one dollar over a set period of time. But since then it has diversified its portfolio and now offers:

  • Installment loans,
  • Creation of credit reports
  • Offer credit
  • Assistance with tax preparation

The Cost Of Collateral Finance Loans

One thing that irritates a lot of people about Security Finance is how economical the company is with information. There is very little online about the cost of his loans.

Despite this, we know that the loan comes with pre-determined terms, including pre-determined equal monthly payments.

The loan requires neither advance payments nor prepayment penalties. But the lender charges fees on top of the interest rate. You pay a service fee of $130.45, which is on top of the interest rate on your loan.

As for why it shares little information about interest rates, the company argues that it tailors its lending products to the borrower.

So you need to fill out the request form, call or go to any of the branches spread across the 14 states to give them your financial information.

Only then can it calculate the loan interest applicable to your case. So if you don’t want to speak to the lender directly, Security Finance may not be the right choice for you. After all, the following applies to the lender:

  • Account
  • term of the loan
  • The state sets the rate.
  • your household income
  • Your debt-to-income ratio
  • Your FICO credit score

The terms of the loan and the amount you are eligible for vary from state to state based on the type of license it receives from that state.

However, the amount ranges from $250 to $2,000. Texas has the lowest lower limit of $256, and the highest is in both North Carolina and New Mexico at $2,000.

7New Mexico$300$2,000
10South Carolina$391$2,000
The Cost Of Collateral Finance Loans
NOTE: Installment loans don’t smother you with payments, but a payday loan does, but charge processing and monthly administration fees. As such, security financing is still a costly choice and you should not consider it if you qualify for more affordable emergency financing options.
NOTE Payment – Security Finance Loan Repayment

So your loan request was successful, you cashed the check, and now it’s time for amortization.

Depending on the term of your loan, you make equal monthly payments until you pay off your loan. Previously, you had to call or visit a local branch to submit your payment.

But now Security Finance has a handy app that you can use to make payments.

You can easily install the lender app on your phone to manage loan repayment. Once you have done this, you can view the next due date of your loan and conveniently make the payment on that day.

These installment loans are expensive, so you don’t want to burden yourself by paying late and incurring late payment fees. Familiarize yourself with the repayment dates.

The company advises you to call ahead if your financial situation has changed and your monthly repayment schedule could be at risk. You should speak to your local Security Finance office so that you can work out a repayment plan that suits your situation.

Security Finance Locations – Which Countries Does Security Finance Accept?

Security Finance operates only in the United States. Therefore, it does not accept customers from other countries.

In the USA, too, it only has branches in states that allow installment loans. It is currently available in 14 states, namely:

  • Alabama
  • Georgia
  • Idaho
  • Illinois
  • Louisiana
  • Missouri
  • New Mexico
  • Nevada
  • Oklahoma
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Wisconsin

Security Finance Phone Number And Customer Support

Security Finance customer support is primarily over the phone. You can call customer care at 1-866-281-7043 to report complaints and at 1-866-281-7043 for comments, questions, or claims. Alternatively, you can walk to your local branch for more personalized services.

For credit disputes, primarily those falsely submitted to a credit reporting agency, you may write to the Company at c/o Consumer Reporting, PO Box 3146, Spartanburg, SC 29304.

Security Finance Phone Customer Support
Security Finance Phone Customer Support

The letter should include your contact and address, the information in dispute, and your argument. Of course, the lender advises you to attach the supporting documents if necessary.

It still doesn’t make sense why a lender as large as Security Finance would roll out instant messaging for their customer support. Some issues could be easily resolved through live chat support.

Is Security Finance Legitimate And Safe To Borrow?

Well, it is safe to take out installment loans from Security Finance. The company is highly valued.

According to the Better Business Bureau, the lender has an A+ rating. Still, when browsing customer reviews, most of the angry customers are the ones who have defaulted.

They complained about the rudeness of the customer service representatives. This brings us to why you need to be careful.

The company offers traditional installment loans, which give you a longer repayment period than payday loans but are short-term loans after all.

Such a loan is expensive, even after deducting the processing and monthly account maintenance fees. If you default on your repayment and add the late payment penalties, it can easily overwhelm you and sink you deeper into debt.

But an installment loan from Security Finance comes in handy when you have an emergency expense that you can’t pay in full with your next paycheck. Normally, you would address the emergency with a payday loan.

But what if you’ve already earmarked your next month’s salary for something else? An installment loan can give you some breathing space on your paycheck because you can spread the repayments out into equal monthly installments.

Advantages And Disadvantages Of Security Financing


  • Loan repaid in small manageable installments.
  • You pay back a constant amount every month.
  • A handy credit management app that allows you to make a payment.
  • Accepts bad credit.
  • Helps you build your credit by paying on time.
  • Security Finance has a long-standing reputation.
  • It is licensed in all 14 jurisdictions and operates in the US.
  • No bank account is required.
  • Security Finance has conveniently located offices in 14 states.
  • Faster and more convenient than a bank loan.


  • No internet loans, you have to call or walk to one of their offices.
  • Offers installment loans, which are high-interest loans.
  • Only available in 14 states
  • The worse your credit rating, the higher the interest to be paid.
  • More installments mean more interest.
  • Prohibited Charges.
  • Can lead you into a spiral of debt if you don’t pay on time.
  • Can permanently damage your creditworthiness.

How Much Interest Does Security Finance Corporation Charge On Payday Loans?

Before you borrow cash online or anywhere, you should know how much interest you are likely to pay. This will tell you if the product is right for you as some lenders charge too high-interest rates.

Also, interest rates may vary depending on the state you live in. Therefore, make sure you know the maximum amount you can charge a direct lender for payday loans.

Security Finance Corporation’s payday loan rates vary in each state, but the company makes sure they offer the most attractive interest rates.

When applying for a loan from Security Finance Corporation, you will be asked to provide your zip code before the lender will show you any offers.

If you decide to complete your application after looking at the loan installments, you can use the online loan application form provided on the lender’s website.

In Florida, lenders are limited to a 10% interest rate, but the state has no statutory cap on the APR. That means if you borrow from Security Finance Corporation, you can pay anywhere from $25 to $30 for every $100 you borrow.

Generally, the lender will combine these fees into one financing fee. For example, if you borrow $500 with a two-week term, you will have to pay a $125 financing fee and 10% interest, totaling $626.4 at the end of the loan term.

Before applying for a payday loan from Security Finance Corporation, read the terms and conditions. Also, have a solid plan for repayment, as Security Finance Corporation’s high fees and interest rates could leave you in further debt if you fail to meet your debt obligations.

Frequently Asked Questions

Does Security Finance offer payday loans?

No, Security Finance specializes in traditional installment loans, some of which are similar to payday loans but offer a longer repayment period.

Does Security Finance offer payday loans?

No, Security Finance specializes in classic installment loans, some of which are similar to payday loans but offer a longer term.

Is Security Finance Security available in my state?

Security Finance offers its services in 14 US states. These conditions include; Alabama, Georgia, Idaho, Illinois, Louisiana, Missouri, New Mexico, Nevada, Oklahoma, South Carolina, Tennessee, Texas, Utah, and Wisconsin.

I have bad credit, can I get a loan?

Of course, you can. Security Finance is a subprime lender that caters to people with bad credit. If you are successful in applying for a loan, conscientiously paying off the loan without delinquency can significantly improve your score.

Final Verdict

Same-day loans, like the installment loans offered by Security Finance, are quick fixes that cannot meet your underlying financial needs.

They’re useful for emergencies, but be sure to pay them off quickly to save on costs and interest so you don’t have to borrow to make up the original loan and end up in a cycle of debt.

Traditional credit facilities offer better interest rates. They’d rather be late than apologize, they say. Take your time processing your personal bank loan rather than rushing into an investment that will only cause you more trouble.