Name

Tower Loan

Legal name

Tower Lending

Website

https://towerloan.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Consumer Lending (522291), Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

akta.pro secondary industries

Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH), Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD), Home Improvement Personal Loans (Unsecured Installment) (FSAKAAAE)

Keywords

• Consumer installment lending
• Personal loan services
• Auto secured loans
• Debt consolidation loans
• Online lending platform

Headquarters

HQ city

Jackson

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Installment Loan Interest: Tower Loan earns revenue through interest charges on fixed-rate, fully-amortized closed-end installment loans. Loans are repaid in substantially equal multiple installments at fixed intervals. Typical loan terms range from 12 to 60 months with APRs varying by state law, loan amount, and applicant creditworthiness. The company offers both secured (using vehicle as collateral) and unsecured personal loans.
2. Sales Financing and Automobile Financing: Tower Loan offers sales financing and automobile financing through retail installment sales contracts, providing indirect extensions of credit.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Tower Loan is a privately held consumer installment lender that provides fixed-rate, fully-amortized closed-end installment loans to individuals across eight U.S. states. Loan products are delivered through over 260 physical branches and an online application portal, with amounts up to $6,000 online and up to $20,000+ in-branch, offered as both secured (vehicle-collateralized) and unsecured variants for purposes such as emergencies, home improvements, vacations, and debt consolidation.

Product overview

Tower Loan is a consumer installment lending company offering a unified lending platform with multiple product types accessible through both online and in-branch channels. The core product is installment loans offered as secured and unsecured variants across nine distinct loan products: Personal Loans, Online Loans, Installment Loans, Vacation Loans, Home Improvement Loans, Auto Secured Loans, Emergency Loans, Debt Consolidation Loans, and Check by Mail. All products share common features of fixed interest rates, equal monthly installment payments, and transparent terms. Online Loans serve as the digital application channel enabling quick approvals and electronic document signing, while the various purpose-specific loans (vacation, home improvement, auto secured, emergency, debt consolidation) represent specialized variants of the core installment loan product tailored to different consumer needs.

Differentiator

Problem solved

Functional benefit

Brands

• Tower Loan Rewards: Employee rewards and benefits program
• Tower Loan eStatement

Products and services

• Personal Loans Consumer installment loans offered as either secured or unsecured options, providing lump-sum funding with fixed monthly payments over fixed terms (typically 12-60 months). Available up to $6,000 online or up to $20,000+ in-branch. For individual consumers needing credit for personal expenses.
• Online Loans Digital-channel installment loan product allowing customers to apply online for loans up to $6,000, receive approval within minutes during business hours, sign documents electronically, and receive funds via same-day ACH deposit (applications completed by 2:00 PM). For individual consumers who prefer digital rather than in-branch service.
• Installment Loans Fixed-rate, fully-amortized closed-end consumer credit repaid in substantially equal monthly installments at fixed intervals. The primary lending structure underlying all Tower Loan products, with terms typically ranging from 12 to 60 months. For individual consumers seeking predictable repayment schedules.
• Vacation Loans Specialized installment loans for financing travel and vacation expenses, with same-day financing options, fixed interest rates, and fixed monthly payment terms for predictable budgeting. For individual consumers planning trips or travel.
• Home Improvement Loans Installment financing for home renovation and improvement projects, providing lump-sum funding repaid in monthly installments without requiring the home to be used as collateral. For homeowners funding repairs, renovations, or upgrades.
• Auto Secured Loans Secured installment loans using the customer's personal vehicle as collateral, allowing borrowers to access larger loan amounts at potentially lower interest rates. Tower Loan can pay off existing vehicle liens and use the vehicle as collateral. For vehicle owners who need larger loan amounts or better rates than unsecured options offer.
• Emergency Loans Quick-access installment loans designed for unexpected expenses such as medical bills, urgent car repairs, or other financial emergencies, with same-day funding options and fixed repayment terms. For individual consumers facing urgent, unplanned financial needs.
• Debt Consolidation Loans Installment loans that combine multiple debts (credit cards, medical bills, other loans) into a single monthly payment, potentially with lower interest rates than existing revolving debt, simplifying repayment and potentially saving money on interest. For individual consumers seeking to streamline and reduce the cost of multiple debt obligations.
• Check by Mail / Live Check

Quantifiable outcome

• Approval decisions within minutes for online applications during business hours
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• OneMain Financial: OneMain Financial is the largest installment lender in the US, offering unsecured and secured personal loans through 1,400+ branches in 44 states. It is the closest direct peer to Tower Loan in business model, customer segment (subprime), and branch-based distribution.
• World Finance: World Finance (a subsidiary of World Acceptance Corporation) offers installment loans through 1,000+ branches in the Southeast and Midwest. It is a direct competitor in subprime installment lending, operating in a similar geographic footprint to Tower Loan.
• Mariner Finance: Mariner Finance provides personal installment loans through 500+ branches across 25+ states, serving a similar subprime customer base. It competes directly with Tower Loan in secured auto loans and unsecured personal loans.
• Regional Finance: Regional Finance operates a branch-based installment lending model across the Southeast and Midwest, offering personal and auto-secured loans. It directly competes with Tower Loan in core states like Mississippi, Alabama, Louisiana, and Tennessee.
• Lendmark Financial Services: Lendmark Financial provides personal loans, auto loans, and retail financing through branches across 20+ states, primarily serving subprime borrowers. Its branch-based model and target customer closely mirror Tower Loan's approach.
• Advance America: Advance America operates a large network of storefront lending centers offering payday loans, installment loans, and title loans. While its product mix skews more short-term than Tower Loan's, it directly competes for the same subprime customer base in the Southeast.
• Springleaf Financial (now OneMain): Springleaf was acquired by and rebranded as OneMain Financial, but historically operated as a direct competitor in branch-based installment lending serving subprime consumers. The historical Springleaf model is nearly identical to Tower Loan's current offering.

Broad incumbents

• LendingClub: LendingClub operates a leading online personal loan marketplace serving prime and near-prime borrowers. While it targets a slightly higher credit tier than Tower Loan, both compete in the unsecured personal loan space and LendingClub represents a key digital channel disruptor.

Emerging players

• Upstart: Upstart uses AI-driven underwriting to offer personal loans through bank partners, increasingly reaching near-prime and lower-FICO borrowers that overlap with Tower Loan's customer base. It is a key competitive threat from the fintech side.
• Prosper Marketplace: Prosper operates an online personal loan marketplace serving borrowers across the credit spectrum. It competes with Tower Loan for unsecured personal loan demand, particularly for amounts in the $6,000-$20,000+ range where Tower Loan's online channel is capped.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TowerLoan1936
• Facebookfacebook.com/TowerLoan
• LinkedInlinkedin.com/company/tower-loan
• Instagraminstagram.com/towerloanofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tower Loan