Big Picture Loans review

Flexible short-term loans — but higher than normal rates.

Bottom line: Big Picture Loans is one of the more transparent tribal lenders out there. But its rates are still much higher than other US-based lenders are able to charge.

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$200

Min. Amount

$3,500

Max. Amount

Details

Product NameBig Picture Loans
Min. Amount$200
Max. Amount$3,500
Loan Term4 to 18 months
RequirementsHave an operational bank account, be a US citizen or a permanent resident, be at least 18 years old and earn a minimum of $700 per month

Pros and cons

  • Wide range of loan amounts
  • Repeat borrowing lowers APR
  • Low minimum monthly income requirement of $700
  • Falls under tribal law
  • Poor customer ratings
  • APR up to 699%
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Review by


Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

Big Picture Loans, formerly Castle Payday, is a tribal lender that offers installment loans that can be used to cover just about any expense. Unlike other lenders, Big Picture Loans follows the laws of its tribe to determine your loan terms. That means you may be stuck with an APR far above the legal limit in your state.

Big Picture Loans could be helpful when you’re face with a large expense a payday loan won’t cover, but you’ll still need to be cautious. With so many mixed reviews, you’ll have to do your own research and compare your other short-term loan options before you borrow.

Big Picture Loans rates, fees and terms

Big Picture Loans is upfront about its rates — and it isn’t cheap. First-time borrowers can expect an APR between 350% to 699%, which is much higher than many states allow. And while Big Picture Loans lowers rates for repeat borrowers, it never drops below a high 35%.

You can borrow between $200 to $3,500 for a term of 4 to 18 months. The exact APR you receive, as well as your repayment schedule, will depend on how frequenly you get paid and how much you can afford.

How Big Picture Loans compares to other lenders

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Name Product Filter Values Loan amount Turnaround time Requirements
B9 pay advance app
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OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Stilt
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
Get a fair loan designed for immigrants and nonresidents.
CashNetUSA Loan
Varies by state
As fast as same business day
Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
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How to qualify

In order to apply for an installment loan, you’ll need to meet a few basic requirements:

  • Minimum monthly income of $700+
  • Operational bank account
  • US citizen or a permanent resident
  • At least 18 years old

Big Picture Loans reviews and complaints

BBB accreditedNo
BBB ratingA+
BBB customer reviews1.38 out of 5 stars, based on 65 customer reviews
BBB customer complaints268
Trustpilot score4.6 out of 5, based on 10,757 customer reviews
Customer reviews verified as of16 October 2020

While Big Picture Loans receives a high volume of positive reviews on Trustpilot, customers on its BBB page reported problems with payments and high interest rates. Because complaint details are unavailable, it’s difficult to say if there is a trend to these problems. Before you borrow, you should ensure you understand the full cost and that you’ll be able to repay your loan funds.

How the application works

Big Picture Loans only accepts online applications. You will need to provide basic information about yourself and your income, including your current employer. It should take around 15 minutes to fill out.

Should I verify my bank account?

Big Picture Loans asks you to verify your bank account by entering your username and password. Many lenders will ask for your bank’s routing number and your account number, but not your login info. While it claims the process is secure, it doesn’t state that it’s using a service like Plaid to keep your information safe. And when I selected skip and continue, Big Picture Loans denied the application without providing any specific details.

This may be a red flag — and could put your bank account at risk. While Big Picture Loans is a legit service, compare lenders with better defined application processes before you sign in to your account through a third party.

What sets it apart

Big Picture Loans is a short-term lender that is completely owned and operated entity of the Lac Vieux Desert Band of Lake Superior Chippewa Indians. This tribally-owned lender is registered with the tribe’s reservation in Watersmeet, Michigan. While this means it can offer loans in many states short-term lending may otherwise be illegal, it also results in extraordinarily high APRs.

If Big Picture Loans receives all the required information through your application before 5 p.m. CT Monday to Friday, you may be able to receive your loan by the next business day. If not, it may take multiple business days to fund.

Is Big Picture Loans legit?

Yes. Big Picture Loans has a secure website and outlines its safety measures and privacy policy in the Terms of Use page. Your personal information is kept safe by a standard security certificate. If you have any questions, Big Picture Loans is easy to contact by mail, email or phone.

Big Picture Loans is an expensive choice. If payday loans are legal in your state, it may make more sense to compare US-based options to avoid extremely high APRs.

Frequently asked questions

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22 Comments

    Default Gravatar
    Denise
    December 14, 2018

    If approved on Friday mornin, will my loan be available on Saturday or Monday?

      Default Gravatar
      nikkiangco
      December 18, 2018

      Hi Denise,

      Thanks for getting in touch! The release of funds will depend on Big Picture Loans and will be disclosed when you are approved. Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

    Default Gravatar
    Jennifer
    September 26, 2018

    If your maximum loan amount is $1500.00, why did I get preapproved for up to $3000.00?

      Avatarfinder Customer Care
      Jhez
      September 26, 2018

      Hello Jennifer,

      Thank you for your comment.

      Please note that pre-approved loan means that a lender has independently determined that you meet their requirements for a credit opportunity through a soft inquiry credit check. Pre-approved offers state that you may qualify for a certain amount. This can also mean that you may not qualify for the loan or credit card once your credit reports are reviewed. Hence, pre-approval still changes when a formal application is submitted.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

    Default Gravatar
    Helen
    March 28, 2018

    How much would the interest be on a $1200 loan

      Avatarfinder Customer Care
      Joshua
      March 28, 2018

      Hi Helen,

      Thanks for getting in touch with finder.

      I may not be able to give you the exact interest rate for a $1,200 loan. The reason is that the interest rate will depend on how often your payments are scheduled and the duration of the loan as well as your current financial situation. The loan contract you receive lists all applicable charges so be sure to review these carefully before you sign.

      If you want to get a quote, you might want to get in touch directly with the lender.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    Fallon
    January 25, 2018

    How long do you have to pay the loan back?

      Avatarfinder Customer Care
      Rench
      January 31, 2018

      Hi Fallon,

      Thanks for your inquiry.

      With Big Picture Loans, you are offered with installment loans which you repay over time with a set number of scheduled payments. Though you can also pay off your installment loan early and no penalties charged to you when you do this. Your scheduled payments is outlined in your contract.

      Meantime, in the Big Picture Loans website, you can find and use their personal loan calculator if you like to get an idea on what would be your repayment schedule will look like.

      Hope this information helped.

      Best regards,
      Rench

    Default Gravatar
    Kathyrn
    January 11, 2018

    I was,applying for loan and at the bottom it asked for my bank information like routing number is that lagit

      Default Gravatar
      Arnold
      January 12, 2018

      Hi Kathryn,

      Thanks for your inquiry

      That information is required by Big Picture loans so that you may be able to receive your approved funds in your bank account electronically. Please note that to qualify, you have to meet basic eligibility criteria. Please check them out before applying.

      Hope this information helps

      Cheers,
      Arnold

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