We've been discussing bad credit tribal loans here for over two years, but up to this point there has been no list constructed that contains all the tribal lenders who are unconcerned with bad credit.
That's going to change today, as we put together and organize the bad credit tribal loans list. This will be the big list of all the Native American lenders who do not care about your past credit history.
Unlike every state licensed lender the majority of tribal lenders don't care about your past repayment and credit history. They don't care about your credit score, and they don't care if you have charge offs on your old credit cards.
Some lending companies do not even care about recent bankruptcies.
The whole Native American business model is dependent on getting a lot of lending done to a lot of customers, both new applicants and returning customers. That means these firms are often times (but not always) going to look the other way when it comes to underwriting their loans. But again their are some tribal lenders that do have credit rules and that are more picky than others, so that's the point of this big list of bad credit tribally-based lending firms.
In general I always talk about how easy it is to qualify for Native American loans but it's not always true. Some people can't qualify because of negative aspects of their credit and others can't get approved due to low income or the fact that they work part-time rather than having a full-time position.
I know for a fact that a number of people who want tribal loans get turned down because they write on the comments section of these pages, and they send me email, that detail exactly why they didn't get approved for a loan. And they are often not too happy because the prospect of getting one (or more) of these tribal loans sounded very simple.
So with the realization that not everyone will be approved by these easy lenders, below is the list of the companies that I believe are the most willing to lend money...
1) Seaside Payday - yes it's a little strange to see these guys at number one on the list, the thing is this is a new tribal loan company and they are looking to establish a clientele. As in they need business. The field of tribal loan shops is getting too crowded and when I spoke with this company they were just highly agitated that I wasn't going to get a loan. Ithink just about anyone could get a small dollar loan from these guys at this point in time (March 1, 2014) as of this writing.
2) Mobiloans - now this company offers up to $1,500 and I'm not saying that you will qualify for that much. In fact you have to be working at a halfway stable job and be making some decent money to borrow the maximum amount. But they are quick to deal out a $500 loan and most people will qualify.
3) Northern Plains Funding - another lesser known, obscure lender that is also relatively new to the scene. This is always a good blend for getting approved as a new customer.
4) Minute Funds - I borrowed money from these guys years ago and it was the most simple process. I think the only thing that would maybe prevent a loan here would be if you worked so little or made too little in total income, but even then you might get a loan. I can't stress to you how amazingly fast the whole thing went and they sent $500 the next morning. Piece of cake.
5) Greenline Loans - this will be an easy lender to borrow from but the amount will be quite low, I think $500 is their maximum and as a new customer you may only qualify for $300. But you should be approved with little or no problems. Just as an aside this company is the old Spot On Loans for those of you keeping track at home.
6) Cover Me Cash - this lender has very simple terms and a very simple website. They also try to inject some personality and humor into the whole lending situation. They will most likely approve yo ufor some amount.
7) Clear Creek Lending - they offer up to $2,500 and not many people qualify for that high amount. But down at the $500 this company is much more likely to take a chance on a new customer.
8) Cash Advance - or otherwise known as the very popular CashAdvance.com this is a tribal payday lender that keys their success off of their high volume of customers. They offer smaller loans and I'm not a big fan of them, but you would most likely be approved for some basic amount of money.
9) Blue Frog Cash - these guys are new to the lending business and they say right on their website they don't care about your past lending history. So there you go, if they do not care then I guess you should be approved pretty quickly.
10) Castle Payday - another tribal payday outfit which I don't particularly recommend but at the same time I believe it would be incredibly easy to qualify for their loans. Unless you have a terribly low income you should be approved without much trouble.
These are the top 10 easy to borrow from Native American lenders. By definition all tribal loan companies are easier to deal with and get approved for a loan than the state licensed firms. But at the same time you have to watch out because Native American lenders will inherently charge more in interest payments that the state licensed companies. Not all the time, but 95% of the time. If you are desperate the 10 firms listed above should provide some short-term lending options for you.