Tower Loan reviews

3.5

63% would recommend to a friend

(452 total reviews)

Francis C. Lee

61% approve of CEO

61% positive business outlook

Tower Loan has an employee rating of 3.5 out of 5 stars, based on 452 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Tower Loan employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

452 reviews
1.0
Sep 2, 2015

Never Again!

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The only thing that is good about this company is that you make pretty good money coming straight out of college.

Cons

Where do I begin? 1. Stupid hours:we would work almost 10 hours a day. And don't even think about having a free weekend! 2. Attire: Ladies expect to wear heels everyday. If you are a black woman you can't wear braids either. 3. Morality: This is the worst part. This company basically gives people high interest loans and then harasses them to pay it back. I literally had a woman come in crying because she didn't have any money and had lost her job. I tried to come up with a payment plan for her but my manager basically said that she could renew her loan(which would double what she owed) 4. Safety: There were times customers got really hostile. I was threatened several times and managers would laugh it off. 5. Leadership: District supervisors are going to come in for special visits.Most of them are old white men that are slightly racists and perverted.

1.0
Oct 26, 2011
Recommend
CEO approval
Business Outlook

Pros

Salary was good compared to other companies, descent benefits package and bonus pay. 13 paid days off when you become a manager after completing manager trainee program.

Cons

Long hours, unprofessional collection methods, had to make bad loans to meet monthly goals on to have to collect them, which included going to customers houses and threatening to take their personal belongings if they didn't pay. Job security very unstable. Manager trainee program is suppose to be a salary position but they have what they call fluctuating pay which most people can't explain or understand. Would not recommend starting a career here, VERY VERY high turnover.

2.0
Oct 14, 2019

Not Worth It

Recommend
CEO approval
Business Outlook

Pros

Its a job. Pay is descent. If you hit the bonuses it is good. I suppose if you are someone without a college degree the advancement opportunity is good but you have to be willing to relocate. If you have a college degree you can do better than this.

Cons

Be ready to be treated like trash. Your job will constantly be threatened. Constant micromanaging. The management expects you to pull loans out of the air. You work 50 hours a week and just about every Saturday. Hard to get time off and don't let your numbers be below expectations before vacation otherwise they may not let you go. Their computer system is severely outdated. As manager you will have to go to customers home who are behind on their loan. If that bothers you don't work here. Turnover is very high. You are constantly short staffed because everyone who works there realizes how bad it is leaves if they don't get fired first. You could do good for 11 months out the year and then have one bad month out the year and they are ready to fire you.

Viewing 19 - 21 of 452 Reviews

Glassdoor has 456 Tower Loan reviews submitted anonymously by Tower Loan employees. Read employee reviews and ratings on Glassdoor to decide if Tower Loan is right for you.