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Looking for an installment loan? This lender could be the solution you need.
When you’re tight on cash and time, a short-term loan can be a handy way to get the extra money you need. Green Dollar Loans offers both installment loans and auto title loans. But its limited contact information and lack of reviews might not make it your top choice when looking for a lender.
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.
What is Green Dollar Loans?
Green Dollar Loans a direct lender that specializes in providing both installment loans and auto title loans to residents of the US and Canada. You won’t need good credit to apply, and you may be able to borrow between $500 and $10,000.
If you’re approved, you’ll repay the amount you borrow in installments. Loan terms can last Up to 3 years. And if you end up needing to refinance your loan, Green Dollar can help you find an extension option.
What are the benefits of using Green Dollar Loans?
Quick process. The application is short, and you’ll be contacted by a representative within 15 minutes after you submit. If you’re approved, Green Dollar Loans claims you may be able to get your funds within a business day.
Extensive reach. Green Dollar Loans works with borrowers across the US and Canada. However, it doesn’t state which states it services. You’ll have to call for that information.
Large loan amount. Green Dollar Loans may be able to offer up to $10,000.
What to watch out for
No borrower reviews. There isn’t a Better Business Bureau (BBB) or Trustpilot page. Until you apply, you won’t know how it treats potential borrowers.
Short application. Although a short application is often a good thing, Green Dollar Loans’ application may be too short. It only asks for your basic contact info then instructs you to call for more – this isn’t necessarily a good sign.
Green Dollar Loans doesn’t have a BBB or Trustpilot page — and with no direct way to contact it, you may want to consider a different loan service that has a history of positive customer interaction.
Beware of shady promises
Although Green Dollar Loans has safety measures up, it does make a few promises that some borrowers might consider red flags. Not only does it claim instant approval, but it also states that you may be able to get same-day funding.
It’s definitely worthwhile to read over your contract carefully to be sure it abides by your state’s laws and regulations.
Is it safe to apply with Green Dollar Loans?
Am I eligible?
You’ll only have to meet some basic eligibility criteria to be considered for a loan.
You must have proof of a government-issued ID
You must have a regular source of income
You must be a citizen or permanent resident of the US or Canada
You must be at least 18 years old
For auto title loans, you’ll also need to provide proof of insurance and registration as well as a lien-free vehicle title.
How do I apply?
Green Dollar Loans has a quick application. You’ll only need to enter your desired loan amount, your name, your phone number, your email address and your zip code.
Once you do, Green Dollar Loans will contact you within 15 minutes. When you speak to a loan specialist over the phone, be prepared with the following:
Your residential status and residential address
Details about your employment and income
Details from an acceptable form of govern-issued ID
I was approved for a loan. Now what?
Loan terms vary from a few months to three years. The exact length of your term — and the fees you pay — will depend on your financial situation and the laws of your state or province.
A longer loan term can lead to smaller installments, but you end up paying more in interest. Before you accept the loan’s contract, take time to review it carefully so you know how much you’ll be paying.
As with all short-term loans, make sure you have a budget in place and are able to pay back your loan each month. If not, you could face steep late fees and other charges from Green Dollar.
Are short-term loans available in my state?
Green Dollar Loans offers some of the larger installment loans out there, but they come at a price: You won’t know the potential terms of your loan until you apply over the phone.
The whole process takes around 10 to 15 minutes, but the initial application should take no more than a minute.
You can do this by speaking to a Green Dollar representative over the phone by calling 915-493-2650.
It might. As with all lenders, Green Dollar may run a credit check to ensure you’re a good borrower. This could potentially have a small negative impact on your credit score.
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