River Valley Loans: Your Life Preserver in a Sea of Debt

River Valley Loans is a veteran-owned and operated financial services company headquartered in Detroit, Michigan. Founded in 2008, River Valley Loans specializes in providing loans to active duty military, veterans, and their families. 

With over a decade of experience serving the military community, River Valley Loans understands the financial needs of military members and is dedicated to helping them access affordable financing solutions. The company offers a variety of loan products tailored to the military lifestyle, including personal loans, auto loans, credit builder loans, and debt consolidation loans.

River Valley Loans takes pride in providing exceptional customer service and financial education resources to ensure borrowers make informed decisions. Their team of loan experts guides through every step of the application process and works diligently to fund loans as quickly as possible.

As a mission-driven lender, River Valley Loans aims to help military families achieve financial security and build strong credit. They are committed to responsible lending practices and report to all three major credit bureaus to help borrowers establish their credit history. With competitive rates and flexible terms, River Valley Loans has become a trusted resource for military families across the country looking to reach their financial goals.

Types of Loans Offered  

River Valley Loans offers a variety of loan options to meet the needs of different borrowers. Some of the main types of loans available include:

Personal Loans

Personal loans can be used for a variety of purposes, such as debt consolidation, home improvements, medical expenses, vacations, and more. River Valley Loans offers flexible personal loans with competitive rates and terms. Borrowers can get preapproved online and receive funds quickly upon approval.

Payday Loans  

River Valley Loans provides payday loans or cash advances to help borrowers meet short-term cash needs between paychecks. The application process is fast and funds can be deposited directly into your bank account as soon as the next business day. Payday loans are a helpful option for unexpected expenses but should be used cautiously.

Business Loans

River Valley Loans offers a range of business financing options, including term loans, lines of credit, equipment financing, and SBA loans. Business owners can apply for startup funding or funds to expand, purchase inventory and equipment, or bridge cash flow gaps. Loans have flexible repayment terms tailored to each business’s needs.


River Valley Loans offers competitive mortgage rates and programs to help consumers purchase a home or refinance their existing mortgage. Various loan terms and fixed or adjustable rate options are available. The mortgage process is streamlined so borrowers can get prequalified online and close quickly. Mortgages, home equity loans, and home equity lines of credit are offered.

Loan Application Process 

Applying for a loan from River Valley Loans is simple. Here’s what you need to know about the application process:

How to Apply

To get started, visit the River Valley Loans website and click “Apply Now.” This will take you to the online application portal. The application can be completed online in around 15-20 minutes. 

You’ll need to provide some basic information about yourself including your name, address, date of birth, Social Security number, income, employment details, and contact information.

After submitting the online application, a loan officer will contact you within 1 business day to discuss your application and provide instructions for submitting the required documents.

Required Documents

As part of the application process, you’ll need to submit certain documents to verify your identity and financial situation. Commonly required documents include:

  • Photo ID such as a driver’s license  
  • Proof of income such as recent pay stubs or bank statements
  • Proof of residence such as a utility bill
  • Bank routing and account numbers if applying for direct deposit  

The loan officer will let you know exactly which documents you need to provide. For quick processing, have these ready before you apply.

Approval Criteria

River Valley Loans evaluates each application carefully based on certain criteria. As long as you meet the requirements, approval is likely. Key factors include:

  • Credit score of at least 600
  • Debt-to-income ratio lower than 50%  
  • At least 1 year of steady employment 
  • Monthly income of at least $1,500
  • U.S. citizenship or permanent residency  

Applicants with past bankruptcies, foreclosures, or outstanding tax liens may face a more difficult approval process.

River Valley aims to provide a quick and easy loan application experience. Within 1-3 business days, most applicants will receive a decision on their loan application. Contact a loan officer with any questions.

Interest Rates and Fees

River Valley Loans offers competitive interest rates on all of our loan products. Here is an overview of the rates and fees you can expect:

Interest Rates

  • Personal loans – Rates range from 5.99% to 35.99% APR, depending on creditworthiness. Those with excellent credit will qualify for our lowest rates.
  • Payday loans – Payday loans have higher rates given their short-term nature. Rates range from 129% to 199% APR.
  • Auto loans – Auto loan rates range from 3.99% to 20.99% APR depending on the age of the vehicle and the applicant’s credit score. Those with good credit can qualify for rates under 5%. 
  • Mortgage loans – Fixed and adjustable rate mortgages are offered with competitive interest rates based on market conditions. Fixed rates are commonly between 3-6% APR while adjustable rates start lower and fluctuate based on an index.

Origination Fees

River Valley Loans charges origination fees on some loans to cover the costs of underwriting and processing.

  • Personal loans – Origination fees of 1-6% of the total loan amount. 
  • Payday loans – No origination fees.
  • Auto loans – Origination fees of $300-$500 on new vehicle loans. No fees on used vehicles.
  • Mortgages – Origination fees between 1-2% of the total loan amount. Discounts available for certain mortgage programs.

Late Fees

Paying late will result in the following late fees:

  • Personal loans – 5% of the late payment or $15, whichever is greater.
  • Payday loans – $20 flat late fee charged per late payment. 
  • Auto loans – 5% of payment amount per late payment.
  • Mortgages – Late fees specified in the note, usually 5% of payment or $100 minimum.

Review all rates and fees carefully when applying for any River Valley loan. Our lending specialists are available to answer any questions and help explain rates and terms.

Repayment Options

River Valley Loans offers flexible repayment options to meet your needs. 

Repayment Terms

  • Standard Repayment: Equal monthly payments are made over the life of the loan. This is the default repayment term.
  • Extended Repayment: Lower monthly payments are made over a longer repayment period, which results in paying more interest over the life of the loan. To qualify, the loan amount must be over a certain threshold.
  • Graduated Repayment: Monthly payments start low and increase every two years. Payments are lower in the beginning when income may be lower. The total interest paid will be more than the standard plan.
  • Income-Driven Repayment: Monthly payments are based on your income and family size. As your income changes, so do your payments. After 20-25 years of payments, any remaining balance is forgiven.

Early Repayment 

You have the option to pay off your loan early. There are no prepayment penalties. Paying extra or paying off the loan faster will reduce the total interest paid over the life of the loan.


If facing financial hardship, you may qualify for a deferment or forbearance to temporarily postpone payments. Interest will continue to accrue during this period. Extensions are granted on a case-by-case basis.

Credit Reporting

River Valley Loans does report to credit bureaus, so taking out a loan with them will impact your credit score. When you take out a loan, they will report it to the three major credit bureaus – Experian, Equifax, and Transunion. This will show up on your credit report as a new account.

As long as you make your payments on time each month, this will have a positive impact on your credit score over time. Making on-time payments shows lenders that you are able to responsibly manage debt. However, if you miss payments, that can negatively impact your score. Late payments may be reported to the credit bureaus and stay on your credit report for up to 7 years. 

The amount of impact on your score will depend on your overall credit profile. For example, the loan will likely have more of an effect if you don’t currently have much other credit history. The higher your credit score and the more established credit history you have, the less of an impact a new loan account will have.

It’s a good idea to check your credit reports from each bureau before applying for a River Valley Loan so you understand exactly where your credit stands. Make sure you continue monitoring your credit after taking out the loan as well. You’re entitled to a free copy of your credit report from each bureau once per year. Staying on top of your credit profile is key to maintaining good credit and qualifying for the best loan rates.

Customer Service

River Valley Loans prides itself on providing excellent customer service. Here are some of the ways you can get support:

  • Phone – You can call their customer service line at 1-800-555-1234 Monday to Friday from 8am – 8pm EST. There is also a 24/7 automated phone system if you need help outside business hours.
  • Email – Send any questions or concerns to support@rivervalleyloans.com. Emails are typically answered within 24 hours.
  • Live Chat – Chat with a customer service agent directly through their website during business hours. Look for the chat widget on their contact page.
  • Social Media – River Valley Loans has active Facebook, Twitter, and Instagram accounts. You can send them a DM and typically get a response within a few hours.

Reviews of River Valley’s customer service are overwhelmingly positive. Customers highlight the friendly and knowledgeable support staff. Many note fast response times, both by phone and email. Overall, River Valley Loans appears to offer exceptional customer service across its various contact channels. Their extended business hours also make them more accessible than some competitors.


When applying for a loan, it’s a good idea to shop around and compare options from different lenders. Here are some alternatives to consider instead of or in addition to River Valley Loans:

Big National Bank

  • Pros: Big National Bank has branches all over the country, so you can walk into a branch near you. They have been in business for over 100 years and have a reputation for reliability. Their interest rates are competitive for borrowers with good credit.
  • Cons: Since they are a huge bank, you may feel like just a number. Customer service responsiveness varies between branches. Approval times can be slow.

Local Credit Union

  • Pros: Credit unions are member-owned nonprofits, so their goal is to serve members, not make profits. This means they may offer better rates or fees compared to traditional banks. Local branches allow for more personalized service.
  • Cons: Membership eligibility at credit unions is limited. Loan options may be more limited compared to larger banks. Fewer local branch locations.

Online Lender

  • Pros: Online lenders can offer fast approvals and funding, sometimes within a day. Application process is digital and can be done from your home. Often have low interest rates.
  • Cons: Lack of in-person support. Higher likelihood of hidden or surprise fees. Some online lenders are predatory. Harder to check reputation or get customer support.

When weighing your options, be sure to compare interest rates, fees, eligibility requirements, and customer service reputation. Consider both online and local brick-and-mortar establishments to find the best loan for your needs.


What types of loans do River Valley Loans offer?

River Valley Loans offers a variety of loan products including personal loans, auto loans, home improvement loans, debt consolidation loans, and more. We offer both secured and unsecured loan options with competitive interest rates.

What are the interest rates and fees for River Valley Loans?

Interest rates and fees vary depending on the loan product, loan amount, credit history, income, and other factors. In general, APRs for personal loans range from 5.99% to 35.99%. There are no application fees, origination fees, or prepayment penalties. Check our website or speak to a loan officer for specific rates.

What credit scores qualify for a River Valley Loan?

We offer loans to borrowers with a wide range of credit. Each application is reviewed individually, but generally, credit scores of 640 and above qualify for our lowest rates. We also work with credit-challenged borrowers. 

How long does the loan application process take?

The loan application process typically takes 1-3 business days. Once we receive your completed application with all required documents, one of our loan officers will review it and contact you promptly. Loan decision times range from minutes to one business day in most cases.

How fast can I get loan funds once approved?

Once approved, loan funds are usually sent via ACH within 1-3 business days. For an additional fee, wire transfers can be arranged to get funds the same or the next business day in most cases. Speak to a loan officer about expedited funding options.

What repayment options are available?

We offer flexible repayment terms of 12 to 84 months. Payments can be made via auto-debit from a checking account, online, over the phone, by mail, or in person at a branch. There are no penalties for early or extra payments.

Does River Valley Loans report to credit bureaus?

Yes, River Valley Loans reports your payment history to all three major credit bureaus – Equifax, Experian, and TransUnion. On-time payments are reported monthly and help build your credit score over the loan term.

How can I contact River Valley Loans with questions?

You can contact us at 1-800-555-RVLN, chat live on our website, visit a branch, email loans@rivervalley.com, or send a secure message via your online account portal. We have dedicated loan officers to assist you and answer any questions.


River Valley Loans provides a wide range of loan products to meet the diverse financial needs of customers. Whether you need a personal loan, auto loan, or mortgage, River Valley Loans offers competitive interest rates and flexible repayment terms to fit your budget. 

The loan application process is quick and easy. You can apply online, over the phone, or in person at a branch. River Valley Loans prides itself on fast loan decisions, so you can get the funds you need when you need them.

River Valley Loans reports loan information to the major credit bureaus, so responsible borrowing and repayment can help build your credit history. They offer credit counseling and financial education resources to help customers make sound borrowing decisions and improve their finances over time.

When it’s time to choose a lender, there are many reasons to select River Valley Loans. Their wide range of loan products, competitive rates, and fees, flexible terms, and focus on customer service make them a leading lending provider in the region. Borrowing from River Valley Loans can help meet your financial needs today while building a relationship for the future.

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