Greenline Loans review
No breakdown of cost online, but relatively simple application process.
Bottom line: Greenline Loans is a tribal lender — and that means high potential costs. Consider what you might need to pay and what other options are available before you borrow. Read our full review.
1 to 3 business days
Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for everyday people to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise.
Greenline Loans is a tribal lender that offers small installment loans. First-time borrowers can qualify for up to $300.
While this isn’t the most robust service out there, Greenline is a good choice if you’ve run out of other options and need a small amount of cash. The low loan amounts mean that, even with a high interest rate, you may not pay hundreds of dollars in fees.
But Greenline isn’t clear about its costs. It’s not regulated by state laws, either, and it may perform a credit check. You should carefully compare other options before taking out an expensive tribal loan.
Pros and cons
- Available in 35 states
- Small installment loans
- Member of the Online Lenders Alliance (OLA)
- Loan cancellation available
- Low maximum loan amount of $300 for first-time borrowers
- Not regulated by US state laws
- Not up front about potential costs
- May perform a credit check
Greenline rates, fees and terms
Greenline isn't upfront about the cost of its loans. But as a tribal lender, it doesn't have to abide by state laws — which could mean an annual percentage rate (APR) of over 500%. If you decide to borrow, carefully review your loan contract. It should contain details about your payments, the total cost of your loan and the loan term.
It does state on its website that you can't renew or extend your loan. And while you can pay off your loan early at no extra cost, you may be charged a late fee if you can't make your payment on time.
Is Greenline legit?
Yes, Greenline Loans is a legitimate lender. It's a member of the Online Lenders Alliance (OLA), which has a set of best practices that help educate consumers.
Greenline merged with Quick Help Loans, a tribal lender
Tribal lender Quick Help Loans now exclusively offers loans through Greenline. The websites of these two lenders is largely similar, and Quick Help Loans redirects borrowers to Greenline on its application form. However, the Better Business Bureau (BBB) only has customer reviews for Quick Help Loans, not Greenline.
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Greenline reviews and complaints
|BBB customer reviews||5 out of 5 stars, based on 1 customer reviews|
|BBB customer complaints||7 customer complaints|
|Customer reviews verified as of||21 March 2021|
Greenline Loans only has a few set eligibility requirements.
- Regular source of income
- Monthly income of $1,000 or more
- Open checking account
- US citizen
- At least 18 years old
It states you may need to meet other criteria as well — potentially minimum credit. Greenline states that it may check your credit to determine if you're eligible. However, it doesn't state whether it pulls from one of the three main credit bureaus — TransUnion, Experian and Equifax — or if it uses an alternative credit bureau.
How to apply
Greenline Loans has a straightforward application. And like most online lenders, it asks for some sensitive personal information up front, including your Social Security number and bank account numbers.
But while it advertises loans of $100 to $300 available for first-time borrowers, you'll only be able to select $300 when you apply. Once you submit your application, Greenline will electronically review your information and determine if you qualify.
If approved, you can sign your loan documents electronically. In most cases, you should see your loan deposited into your bank account within one to three business days.
Greenline Loans is an online tribal lender with no physical locations. And while it does offer loans to the majority of the US, you will not qualify if you live in one of these states:
- New Hampshire
- New York
- West Virginia
Greenline Loans also does not lend to residents of Puerto Rico.
Greenline Loans offers two ways to pay:
- Automatic online payments. Greenline automatically withdraws payments from the bank account you provide in your application.
- Certified checks. Send a check to Greenline's PO Box — but plan ahead to avoid missing your due date.
If you have any questions about payments or won't be able to make one by your due date, reach out to Greenline's customer service for information on rescheduling.
Greenline also allows you to cancel your loan, and avoid a finance charge, by 3 p.m. MT the business day following your loan disbursement. To cancel, log in to your Greenline account or reach out to customer service.
Tribal loans are expensive — even for installment loans. Before you borrow, consider a state-based payday loan to avoid the high cost.