Little Lake Lending Review: Last-resort Loans for Bad Credit

Is Little Lake Lending legit?

Yes, Little Lake Lending is a legitimate provider of short-term loans. But it’s also a tribal lender, which allows it to skirt state laws and charge APRs in the triple digits.

Despite its high interest rates, Little Lake Lending maintains a B- rating from the Better Business Bureau (BBB) and 4.6 stars from past customers on Trustpilot, which strengthens its reputation. The company also takes appropriate measures to protect customer data, including using industry-standard security protocols.

How Little Lake Lending compares to other lenders

5 of 5 results

Updated regularly

Finder Score	Loan amount	Turnaround time	Requirements	bullet point infobox
Promoted Finder score 9.5 Excellent EarnIn	Finder score 9.5 Excellent	Up to $150/day, with a max of $1000 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 $1000 between paydays. Subject to EarnIn terms & conditions.	Go to siteMore info Compare product selection Compare	loading
Promoted 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
Promoted 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
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 9.1 Excellent CreditNinja Installment loan	Finder score 9.1 Excellent	$300 to $5,000	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	Not available in: AK, CO, CT, FL, GA, IL, IA, KY, ME, MD, MA, MT, NV, NH, NJ, NM, NY, NC, ND, OR, VT, VA, WA, WV. 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

loading

Load More

Showing 5 of 5 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 breakdown

Where Little Lake Lending falls short

The biggest shortcoming is Little Lake Lending’s lack of transparency regarding interest rates. On its FAQ page in response to the question “How much money will it cost to borrow money from Little Lake Lending?” the company states, “Little Lake Lending believes in transparency. We publish our rates on our website and ensure that our clients understand exactly how much their loan will cost.”

Except that’s not true. An APR range is nowhere to be found on the company website. We only have an approximate idea of how much Little Lake Lending charges because past customers complain about the cost on review websites. More reputable short-term lenders like OppLoans and OneMain Financial openly disclose their minimum and maximum APRs so you know exactly what you’re signing up for.

Some borrowers might also be turned off by the low maximum loan amounts. If you need to take out a larger loan — like for $5,000, $10,000 or more — you’ll need to search for another lender and maybe even snag lower interest rates.

What makes Little Lake Lending shine?

Little Lake Lending offers borrowers quick access to cash when faced with a financial emergency. The loan application is easy to complete and only takes a few minutes. You can borrow up to $2,000 if you’re a first-time customer or $2,500 if you’ve used the company before. Once you sign your loan agreement, funds should arrive as soon as the next business day.

If you change your mind about the loan, Little Lake Lending gives you two business days to cancel. And if you take out the loan and have trouble making a payment, you’re allowed one three-day extension over the life of the loan. However, you must request it through the customer service department before your payment is due.

Little Lake Lending loan details

Little Lake Lending contact information

Calculate your monthly loan payments

You can calculate exactly how much a loan might cost you by entering your loan amount, repayment term and interest rate below.

How to qualify for Little Lake Lending

There are only a few basic requirements you need to meet to qualify for a loan through Little Lake Lending:

• Be a US citizen
• Be at least 18 years of age or older
• Have an active checking account
• Earn regular income
• Not be active duty military or their dependent

Little Lake Lending has no minimum credit score requirement and encourages people with no credit history or a bad credit score to apply.

How to apply

According to past customers, Little Lake Lending’s application process is simple and straightforward. Here’s what it typically looks like:

1. Visit the Little Lake Lending website and select the “Get Started” button in the upper right corner of the page.
2. Enter how much you want to borrow plus your name, phone number, Social Security number, address, etc.
3. See if you qualify for any offers. Review the terms carefully and decide if you’ll be able to repay the loan.
4. Verify your information either online or by talking to a company representative if you decide to move forward with the loan.
5. Sign the loan agreement and expect to receive your funds by the next business day if signed and submitted by 6 p.m. CT on weekdays.

Little Lake Lending reviews and complaints

Reviews of Little Lake Lending from past customers are mixed. On Trustpilot, where the company has high marks overall, most borrowers praise the easy application process and fast funding. Several also mention how helpful the customer service team is.

But many claim that the cost of borrowing isn’t clearly explained up front and were shocked to discover exactly how high the interest was. The word “scam” is often used to describe the company in these complaints.

Those who give specific numbers report APRs around 400% to 500%. Other complaints include rude customer service personnel, fees charged even after a loan has been paid off and loans canceled unexpectedly by their bank before funds were received.