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Tribal lending guide – companies and rates

Many tribal lenders are able to use their sovereign immunity to circumvent standard payday loan regulations.

A tribal lender is a lending institution that is based on tribal land and operated by the Native American community. Tribal lenders offer many of the same products as traditional lenders, but because they are based out of reservations, they are protected sovereign territories and they don’t have to adhere to the same restrictions.

Blue Trust Loans Installment Loans

Blue Trust Loans

Apply for an installment loan of up to $2,000 with this tribal lender.

  • Min. Loan Amount: $100
  • Loan Term: Approx. 6 months
  • Turnaround Time: As soon as next business day
  • Lower rates and extended terms for returning borrowers
  • Must be at least 18 years old and employed
  • Must have a valid checking account
  • Not available in AR, CT, GA, MA, MN, NY, PA, VT, WA, WI and WV

    What is tribal lending?

    Many tribal lenders are represented by the Native American Financial Services Association (NAFSA), which advocates and enables tribes to offer responsible online loans.

    Many beneficial Native American programs are funded with money from short term/payday loans. These include health care, housing, and various educational and youth programs.

    Tribal lenders can lend money to tribal and non-tribal borrowers, and they can even lend money to customers in states where payday lending is normally illegal. While many are legitimate and fair lenders, keep in mind that because they are a sovereign instrumentality, they cannot be sued.

    Where can I get a tribal loan?

    Top online tribal lenders

    Blue Trust Loans

    Hummingbird Funds, LLC is a sovereign enterprise, and wholly-owned and operated by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians, a federally-recognized sovereign American Indian Tribe.

    Blue Trust Loans is a member of the Online Lenders Alliance (OLA).

    • Max. Loan Amount: $2,000
    • Loan Term: Approximately 6 months (longer for returning borrowers)
    • Turnaround Time: As soon as next business day
    • Maximum APR: Varies

    Click here for more info on Blue Trust Loans

    SWIFT Payday Loans

    While SWIFT doesn’t provide loans themselves, they work with many lenders (including tribal lenders) to help you find the loan that’s best suited for you.

    • Max. Loan Amount: $1000 for first time borrowers, $1,200 for return customers (depending on the lender)
    • Loan Term: Varies
    • Turnaround Time: Next business day
    • Maximum APR: Varies by state of residence

    Click here for more info on SWIFT Payday Loans

    Big Picture Loans

    Big Picture Loans formerly operated as Castle Payday. It is a completely owned and operated entity of the Lac Vieux Desert Band of Lake Superior Chippewa Indians. This tribally-owned lender is registered with the tribe’s reservation in Watersmeet, Michigan. It carries out all its operations on tribal land within the same region.

    • Max. Loan Amount: $1500
    • Loan Term: Varies, but the average is 14 days
    • Turnaround Time: Same or next business day
    • Total Cost of Borrowing $100: $35 for every $100 you borrow

    Click here for more info on Big Picture Loans

    Lendgreen Installment Loans

    Lendgreen is a provider of installment loans and operates within the boundaries of the Lac du Flambeau Reservation, as a federally-recognized sovereign Indian Tribe.

    • Max. Loan Amount: $400 for first time customers, $1000 for return customers
    • Loan Term: Up to 18 months
    • Turnaround Time
    • Maximum APR: 795%

    Click here for more info on Lendgreen Installment Loans

    ActionPayday Short Term Loans

    FSST Financial Services, LLC, dba Action PDL Services owns and operates ActionPayday.com. The Flandreau Santee Sioux Tribe, a federally recognized Indian Tribe, wholly owns this company. It operates and provides short term loans from within the tribe’s reservation.

    • Max. Loan Amount: $1500
    • Loan Term: Varies
    • Turnaround Time: 1-2 business days
    • Total Cost of Borrowing $100: $30 for every $100 for 15 days

    Click here for more info on ActionPayday Short Term Loans

    Compare more short-term loan options

    A selection of tribal loans you can apply for

    Here are some loan providers that you can apply with. Note that the max loan amount is based on the lender’s max amount and your state of residence. Check the websites of any providers you’re interested in to confirm they operate where you live.

    Rates last updated November 20th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    $2,000
    6 months
    As soon as next business day
    Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,200
    Varies by lender
    Next business day
    Must be at least 18 years old and employed or have regular income.

    Compare up to 4 providers

    These services could connect you with a direct lender with one simple application

    These lender-connection services don’t actually fund loans. They also don’t make credit decisions. They focus on trying to connect you with a lender that might be able to provide you the funds you seek. Note that the max loan amount is based on the lenders in their network, but it will vary based on your state of residence. If you proceed with one of these services, you can confirm that the lender is reputable by checking with your local government.

    Rates last updated November 20th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    BadCreditLoans.com
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    3 to 60 months
    Varies based on lender
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
    $2,500
    Varies by lender
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,200
    Varies by lender
    Next business day
    Must be at least 18 years old and employed or have regular income.
    LoanSolo.com Payday Loans
    Potentially get connected with a legit lender offering convenient payday loans and quickly get funds.
    $1,000
    Varies by lender
    As soon as one business day
    You must be 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    ExtraLend.com Installment Loans
    This free and simple service could connect you with online lenders offering installment loans.
    $3,000
    Varies by lender
    As soon as one business day
    Must be at least 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    iCashLoans.com Short Term Loans
    Potentially get a loan through a network of 100+ lenders. One simple online application.
    $1,000
    Varies by lender
    Varies by lender
    Be employed, have a bank account in your name and income of at least $1,000 per month.
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this broker may be able to connect you among its nationwide network of lenders.
    $999
    Up to 12 months
    1–2 days
    You must be at least 18 years old with take-home monthly income of at least $1,000 after taxes.

    Compare up to 4 providers

    Is it safe to take out a tribal loan?

    Considering that tribal lenders don’t have to follow any state statutes, a common concern is whether or not they are safe. Yes, they are safe overall, but they’re not cheap. Just like regular payday loans, tribal loans carry extremely high APRs. This is the main reason payday loans are prohibited in many states.

    What’s the controversy about?

    Many American Indian tribes have the financial resources to be able to fund their lending business and are members of the Online Lenders Alliance (OLA), which offers peace of mind to consumers. Unfortunately, some less self-sufficient tribes are engaging in illegal and irresponsible lending practices in order to gain revenue.

    Tribal lenders will partner with a 3rd party, non-tribal lender to provide short term loans to consumers. The tribe operates as the official owner and collects a percentage of the APR. Both the tribal lender and the 3rd party lender are protected by the tribes immunity. This practice is often referred to as a “Rent-a-Tribe.”

    Tips for taking out a loan from a tribal lender

    The ability to self-regulate lending codes has led to a lot of controversy surrounding tribal lenders and their practices, particularly the high APRs. Due to the high interest rates and the possibility of extra fees, it is very important to have a solid plan to pay back your debt. Defaulting on your loan could cause more financial stress than you had when you initially applied for the tribal loan. If you choose to borrow money, it’s very important to read all the fine print and get a clear breakdown of the interest, fees and loan terms.

    Frequently asked questions

    You would have to look up the Consumer Financial Services Regulatory codes for the specific tribe that you’re borrowing from.

    So far, there have been no cases of this happening. Only the lenders have been prosecuted for unfair practices.

    Are payday loans available in my state?

    Aliyyah Camp

    Aliyyah is a Publisher for finder.com. She specializes in loans. When she's not helping people with personal finance, she likes going for a run outdoors.

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    4 Responses

    1. Default Gravatar
      CharlieOctober 23, 2017

      Can I borrow $200,000 and pay a big note each month say for a year then pay it off early?

      • Staff
        renchcruzOctober 23, 2017Staff

        Hi Charlie,

        Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

        Some lenders will penalize you for paying off your loan early. Most that do this use it as a way of making back some of the interest you would have otherwise paid.

        Contacting your lender’s customer service may be the best option for finding out what, if any, prepayment penalties exist. If repaying your loan early will end up costing more than finishing out your regular payments, it may not be worth it.

        However, many lenders offer loans with no prepayment penalties.

        You can also have a look on this page for further information and compare your options.

        Cheers,
        Rench

    2. Default Gravatar
      DavidJuly 3, 2017

      Can I get a loan without a bank account and bad credit

      • Staff
        AnndyJuly 3, 2017Staff

        Hi David,

        Thanks for your question.

        You may check this page to compare bad credit short term loans. Some of the lenders on the page will allow you to borrow and have the funds deposited to a prepaid debit card.

        Kindly review the eligibility criteria and the relevant terms and conditions of the loan before submitting your application to know if it is the right option for you.

        Cheers,
        Anndy

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