Tower Loan Reviews

Hannibal, MO

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About Tower Loan

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Tower Loan is a personal installment lender operating across eight states. It offers loans up to $20,000 for common uses like debt consolidation, covering emergency expenses or large purchases. Borrowers can apply online or at one of Tower Loan’s in-person locations across Alabama, Florida, Illinois, Louisiana, Mississippi, Missouri, Tennessee and Texas.

Pros
  • In-person support across more than 260 locations
  • Flexible loan terms between 12 and 36 months
  • Online applications available for some loans
  • Loans often approved same-day
  • No prepayment penalties
Cons
  • Only operates in eight states
  • Must apply for larger loans in person
  • Doesn’t publish APR range or fee schedule

Featured Reviews

Springfield, MO
Verified purchase
I took out a loan for approximately $700 from them, and have had no issues whatsoever. … They've been kind and courteous. They have called me a couple of times, attempting to offe...

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Clinton, MS
Verified purchase
Researched other loan places, and Tower Loan's interest rates are very, very high, and they will call you at least 20 times to get your payment in. Then they will call your family...

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What is Tower Loan?

Tower Loan is a personal loan provider operating in Alabama, Florida, Illinois, Louisiana, Mississippi, Missouri, Tennessee and Texas. With more than 260 branches across eight states, Tower Loan offers in-person customer service for borrowers looking for personal installment loans.

Borrowers use personal loans for a wide variety of reasons. Common uses include consolidating debt, covering unexpected expenses or financing large purchases, like a wedding or home repairs.

Tower Loan loan types

Tower Loan specializes in personal installment loans. It offers loan amounts up to $20,000 and term lengths between 12 and 36 months. Borrowers repay the loan over a set period with agreed-upon interest rates and a fixed repayment schedule.

The company provides both secured and unsecured loans. Secured loans require you to use assets, such as a car, as collateral in the case of nonpayment. You must go to a Tower Loan branch location to get a secured loan.

Tower Loan cost and fees

Tower Loan doesn’t publish a standard fee schedule online. Fees vary depending on your location and loan agreement. That said, most companies charge origination fees (fees to take out the loan), late payment fees and interest.

Tower Loan loan terms

Loan terms will vary depending on your state and loan agreement. Borrowers at Tower Loan can typically expect the following:

Tower Loan personal loan terms at a glance

Tower Loan rates

Tower Loan doesn’t publish its annual percentage rates (APRs). Rates will vary depending on your:

  • State of residence
  • Loan amount and terms
  • Credit history
  • Income
  • Debt
  • Loan type (secured versus unsecured)

Tower Loan application process

You can often complete the loan application process for Tower Loan within a few minutes and receive funds within a few days. Here’s how to get started:

  1. Check if you prequalify. Prequalification is optional and lets you see if you’re likely to qualify before submitting a formal application.
  2. Submit an application online or in person. You’ll need to provide basic personal and income information and undergo a hard credit check. Tower Loan often approves applications within minutes, though timing can vary.
  3. Review and accept loan terms. Once approved, you’ll be able to see what loan amount and terms you qualify for.
  4. Sign documents and receive loan funds. Finally, you’ll sign the loan agreement and receive your funds via direct deposit or check. Funds are usually available within three business days.

FAQ

How long does it take for Tower Loan to approve a loan?

Tower Loan usually approves loans within a day and can often approve applications within a few minutes.

Does Tower Loan do a hard credit pull?

Yes, when you apply for a loan, Tower Loan conducts a hard credit check. However, you can get prequalified before submitting a formal application. This process allows you to see if you qualify for a loan without impacting your credit score.

Can you pay off a loan through Tower Loan early?

Yes, Tower Loan doesn’t charge prepayment penalties if you pay off your installment loan early. This can lower the amount of interest you owe on the loan.

Does Tower Loan verify income?

Yes, applicants must provide proof of income to be approved for a loan through Tower Loan.

What can I use a Tower Loan personal loan for?

Tower Loan’s personal loans can be used for a variety of reasons, including debt consolidation, emergency expenses and large purchases.

Is Tower Loan legit?

Yes, Tower Loan is a legitimate personal loan provider. The company has been in business since 1936 and operates across eight states with over 260 physical locations. Borrowers in these states can go online or apply for a loan in person to see if they qualify.

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Tower Loan Reviews

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    Page 1 Reviews 0 - 10
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    Customer ServiceContract & TermsPunctuality & SpeedLoan ProcessHonesty & Transparency

    Reviewed May 12, 2026

    They are not up front during the paperwork process. Be AWARE. Customer Service is awful. They will lie and tell you anything to get you sign. An unknown $2700 closing fee for a 5000 loan that you weren't made aware of till you try to pay off early. You seriously can't make this stuff up.

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    Customer ServiceBillingLoan Process

    Reviewed April 24, 2026

    Tower Loan of Mississippi is some crooked individuals. I have had several loans with them, but I decided no longer to deal with them. Because of the way they started acting. Especially calling me for the last payment. That was due on the account. They were calling back-to-back. But I captured all of those phone calls and took them and sent them to the consumer protection bureau.

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      Customer ServiceBillingLoan Process

      Reviewed March 27, 2026

      They mailed a real check to my home when I didn't apply for a loan as my credit score has been low and never wanted a loan. But that real check they sent my son stole as he was on drugs at the time. Signed my name, and I busted him. But since I wasn't putting him in jail I told Tower Loans I would pay it, but it was never on my income, my bills, my accord. They will not take partial payments and will call you 22 times in one day at your work. They beat on your door as if they are the police knowing I just got out the hospital that very day. I have never been treated so badly or harassed before. And I am stuck paying them. But, let's see what the judge thinks.

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      Customer ServiceCoveragePricePunctuality & SpeedStaffLoan Process

      Reviewed March 9, 2026

      This company is a nightmare. Last year, the manager tried to make me write a HOT CHECK to cover a loan, said if I didn’t, he would sue me. And I was called all types of names. The new manager on 26 is just as bad, I guess the staff likes to argue with the customers. Every other month, I’m charged 2 late fees in a month, even when paid before due date then tells me it’s for the previous month, when late fees were paid again, doesn’t matter if I pay on time or not, I’m still charged late fees. This company treats their customers badly. So if you want to get disrespected, go here. If you want horrible customer service, this is your place, you want to be laughed at, just walk through the door. My experience with the company.

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      Customer ServicePunctuality & SpeedLoan Process

      Reviewed Nov. 26, 2025

      I signed up for a loan I didn’t really need against my better judgment. Trying to pay these people off was horrible. They called my ex wife - we have been divorced for seven years - to include her in the drama when I tried to pay the loan off early. Their practices are awful and their customer service ranks right up there with the Third Reich.

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      Profile pic of the author.
      Punctuality & SpeedStaffBillingLoan ProcessRates

      Reviewed Nov. 11, 2025

      Government shutdown was beyond your customer (government employees) control. We are unemployed and receiving no pay. I’ve been contacted as part of Tower Loan process for late payment, I’ve been contacted every day for about 2 weeks. Some would consider this harassment especially since this is publicly known and told to each employee. Today, the manager told me that no provisions were created for government employees. Unfortunately now, my 36 month interest free loan established through Miskelley for merchandise purchased is null and voided with interested being applied. Quite disappointed and wouldn’t recommend Tower Loan to anyone.

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      StaffLoan Process

      Reviewed Sept. 11, 2025

      I went to title loan and got 6500. Danielle took care of me like a pro. She is nice, curious and made things really easy and worry free. I didn't have to use a car title like a lot of places do. Just some personal property I own like tv stereo and a couple other things. She made it a great experience and it took less than an hour. I would recommend Tower Loan and ask for Danielle. She is really positive and makes you feel welcome and will do all she can to get you what you need. Thanks tower loan. You have great folks working for you.

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      Punctuality & SpeedLoan Process

      Reviewed Sept. 9, 2025

      The absolute worst company I have ever dealt with. RUN. RUN AS FAST AS YOU CAN. Deceptive. Manipulative. Liars. Thieves. Total con artists. Do not do not do not I REPEAT do not use Tower Loan for any loan.

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      StaffBilling

      Reviewed Sept. 3, 2025

      The worst company ever! So unprofessional. I owed $1000 and now I’m being sued for $5700. This is crazy. I was making my payments accordingly. But the representative demanded I make the payments her way and we had an altercation and threatened to sue me. And that’s my story. Worst experience of my life OH YEAH NOT TO MENTION THEY'RE GARNISHING MY WAGES AND I MAKE NOTHING AS IS.

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      StaffBillingLoan Process

      Reviewed Aug. 19, 2025

      They wouldn't change my pay date through the month. Most places will to help you.. not them! Also my poor mom which has passed away since had a loan with them. They wouldn't defer a payment to the end of loan to help her when she was hospitalized several times and so very sick and I explained it to them. They are inhumane and do not care about anything but the almighty dollar! If you need a loan please go anywhere but there!

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      Tower Loan Company Information

      Company Name:
      Tower Loan
      Website:
      www.towerloan.com