Need a loan but don’t want to pay it back in one chunk? A Lendgreen installment loan could be the solution for you.
If payday loans are illegal in your state or you want to have more time to pay back what you borrow, consider an installment loan. Lendgreen can help you through a tough financial emergency no matter your credit history, and the loan proceeds go towards funding the Lac du Flambeau Reservation, a federally-recognized sovereign Indian Tribe.
|Product Name||Lendgreen Payday Loans|
|Min. Loan Amount||$100|
|Max. Loan Amount||$1,500|
- Must be a U.S. citizen
- Must not reside in AR, CA, GA, MD, MN, NY, PA, VA, WV, or WI
- Must not be a member of the military or spouse/dependent of a member of the military
- Must be at least 18 years of age
- Have a source of regular income
- Have a checking account
States where Lendgreen does not offer loans:
- New York
- West Virginia
If you live in one of these states check out our installment loan guide to find out which loans are available where you live.
How does borrowing from Lendgreen work?
To qualify, you have to meet basic eligibility criteria, including an income of at least $1,100 per month.
If you’re eligible, you can start the borrowing process by submitting an online application. Lendgreen doesn’t perform credit checks with the three main credit providers, but it may determine your credit through an alternative provider such as Teletrack.
You’ll find out if you’re approved in seconds. If you are, you’ll receive a pre-approval estimate of your loan, which can range from $100 to $1,500, although first-time borrowers won’t qualify for the maximum amount.
A Lendgreen representative will contact you and guide you through the rest of the process, or you can speed things up by signing the loan agreement electronically. Lendgreen will then transfer the money into your bank account, usually by the next business day.
Payments are predetermined based on the details in your loan contract. Read this carefully before you sign to make sure you can afford the payment schedule and the high interest rate. If you don’t feel like you’ll be able to successfully pay for the loan, you are under no obligation to accept.
See how other loans compare to Lendgreen
Benefits of Lendgreen Loans
- Bad credit is OK. Lendgreen takes your existing financial situation into account before making a decision. As long as you make the minimum monthly income, you will qualify for a Lendgreen installment loan..
- Large availability. Lendgreen provides installment loans to residents of over 40 states.
- Payment schedule. Unlike payday loans, you’ll be able to repay your loan in installments based on how often you get paid.
- Repayment flexibility. You can make payments towards your loan automatically via direct debit, or you can send money orders, cashier’s checks or certified checks via mail. Lendgreen lets you make additional payments at any time, and you can pay your loan off before the due date for no additional fee.
Features of Lendgreen Loans
- Various loan amounts. As a first-time borrower with Lendgreen, you can borrow between $400 to $700. Returning customers can qualify for $1,000 or more.
- Sovereign entity. Lendgreen Loans is solely owned and operated by the Lac du Flambeau Reservation. They are a tribal lender, and the funds generated through loans help support government projects.
- Accredited Lender. They are members of the Online Lenders Alliance (OLA), meaning they abide by set standards when determining interest rates and payment schedules.
- Variable loan term. Loan terms can vary from 3 to 18 months, depending on the amount you borrow and your ability to make repayments.
How much will I pay for an installment loan through Lendgreen?
The average APR of Lendgreen loans varies from 720% to 795%. As with all installment loans, the longer you take to repay, the more it will cost. This is because interest will continue to accrue until the end of your loan period. The best way to save money is to pay back your loan as quickly as financially possible.
The loan contract outlines how much you may end up paying in different circumstances. If you make late payments or miss them entirely, you will likely have to pay extra fees and face your loan going into collection, which can wrack up even more costs. Avoid this by only taking out as much as you can afford and budgeting for the extra costs.
How to apply for an installment loan from Lendgreen?
Applying for the loan is an easy online process.
- Be a US citizen or permanent resident
- Be at least 18 years old (varies by state)
- Have a valid bank account
- Meet minimum income requirements ($1,100/month)
- Not reside in one of the following states: AR, CA, GA, MD, MN, NY, PA, VA, WV, or WI.
- Your name, contact information, date of birth and Social Security number
- Details from a valid form of ID
- Details about your income and pay schedule
- Your bank account information
Are payday loans permitted in your state?
Hover over your state of residence (or click on your state if you’re using a mobile device) to find out if payday loans are legal in your state.