Birch Lending: Avoid This Tribal Lender – Consider These Instead

Is Birch Lending legit?

Birch Lending is a real lender, but it’s a wholly owned subsidiary of Benhti Economic Development Corporation (BEDCO), which was “created under the laws of and for the benefit of the Native Village of Minto,” a federally recognized sovereign Indian Tribe in Alaska. What that means is it follows tribal laws and doesn’t have to abide by the laws in your state.

So, while you can probably obtain loan approval from this lender, it has the freedom to charge rates up to 700% or more. Even with poor credit, you may be able to qualify for other installment lenders that offer more affordable rates.

How Birch Lending compares to other lenders

6 of 6

Updated regularlyShare

Product	Finder Score	Loan amount	Turnaround time	Requirements
Promoted Finder score 9.4 Excellent Varo Cash Advance	Finder score 9.4 Excellent	Up to $500	Instant, once qualified	Active Varo Bank Account with a positive balance and at least $800 in total qualifying direct deposits in the current or previous month. Additional quals apply.	Varo Advance (VA) is a small dollar line of credit. Initial limits range from $20-$250. Work your way up to $500 over time. Fees range from $1.60 - $40 based on loan amount.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 9.5 Excellent EarnIn	Finder score 9.5 Excellent	Up to $150/day, with a max of $750 between paydays	1 to 2 business days or within 30 minutes for a fee	At least 18 and a US resident, Valid Social Security number, At least 60 days of banking history, Proof of consistent income, Positive bank balance, Get paid by direct deposit.	Access up to $150 per day, with a max of $750 between paydays. Subject to EarnIn terms & conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 9.1 Excellent CreditNinja Installment loan	Finder score 9.1 Excellent	$300 to $2,500	1 to 2 business days	Checking account at least 60 days old, regular income through direct deposit, resident of eligible state, age of majority in your state	Fast online funding up to $5K, but you won't know about rates and terms until after you apply.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.4 Excellent OppLoans Installment Loans	Finder score 9.4 Excellent	$500 to $5,000	As soon as the same business day	+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state	Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.	Go to siteMore info Compare product selection Compare	loading
Finder score 8.7 Great Current	Finder score 8.7 Great	$50 to $750	Up to 3 days or within an hour for a fee	Among other factors, you must receive a monthly total of $500 or more in Eligible Payroll Deposits into your Current Account.	Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.	Go to siteMore info Compare product selection Compare	loading
Finder score 8.2 Great Cleo	Finder score 8.2 Great	Up to $250	3 to 4 days or instant for a fee.	Not stated	Automatically monitor your spending plus access cash advances up to $100 at a time.	Go to siteMore info Compare product selection Compare	loading

loading

Load More

Showing 6 of 6 results

Compare other products

We currently don't have that product, but here are others to consider:

How we picked these

What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full Finder Score breakdown

Where Birch Lending falls short

The rates Birch Lending charges are outrageous. It’s taking advantage of people in vulnerable financial positions and borrowers who may not read the loan agreement as carefully as they should. Legit lenders — including those who specialize in bad credit loans — disclose their rates and fees up front.

What makes Birch Lending shine?

By most accounts, Birch Lending has an easy application process and provides fast funding. It also accepts virtually all credit scores, making it an option for almost any borrower.

But there are other lenders out there who accept poor credit. You could also consider a lender like OneMain Financial that offers secured and cosigned loans. For smaller advances to cover you between paychecks, try a cash advance app, which doesn’t charge interest at all.

Birch Lending loan details

Birch Lending contact info

Calculate your monthly loan payment

Use our loan repayment calculator to compare monthly payments and the total cost of the loan based on different rates and loan terms.

How to qualify for Birch Lending

Here’s what Birch Lending says you need to qualify for one of its installment loans:

• At least 18 years old
• Proof of income
• Active checking account
• Not currently involved in a bankruptcy proceeding

How to apply

Follow these steps to apply for a Birch Lending installment loan:

1. Fill out the online application.
2. Wait to receive a decision by email.
3. Complete verification and approval process.
4. Read and e-sign your loan documents.

Birch Lending says it may check your credit, but it doesn’t specify when that occurs. It also states that a phone call is necessary to complete the verification process.

Birch Lending reviews and complaints

Birch Lending has an F rating on the Better Business Bureau (BBB), with only 1.24 out of 5 stars. Chief complaints include poor customer service and the ridiculously high rates, with some reviewers saying they were repaying three or four times the amount they borrowed. One client said it was helpful in an emergency, but only because they were able to pay it back within a month to avoid the excessive interest charges.

The company has more positive reviews on Trustpilot, with customers saying it was convenient and has an easy application process and fast funding. But even the good reviews describe rates as predatory. A few recommend that new borrowers carefully read the fine print so they realize exactly what they’re getting into and have a plan to pay it back ASAP.

Frequently asked questions

Can I repay my Birch Lending loan early?

Yes. It doesn’t charge prepayment penalties, so you can repay your loan in full at any time. You can also make additional payments to reduce your interest charges. However, you’ll need to call customer service to make any non-scheduled payments.

Can I cancel my loan with Birch Lending?

You can, but it has to be no later than 5 p.m. CT on the second business day after your loan is disbursed.

Will Birch Lending affect my credit?

It might. The company says it may report your payment history to one or more credit bureaus, although it doesn’t specify which ones. This can help your credit if you’re always on time, but late payments will lower your score.