Of all the tribal lending companies that have been reviewed at this site, and there are now more than 100 firms, no company has provided the least information than Harvest Moon Lending. This company has almost no information at their site and the company gives no insight into their operations, terms, loans, or programs.
Native American lenders, and really most lenders everywhere, tend to have a bit of mystery about them. They are by nature a somewhat opaque business, never quite giving you the whole story. And why should they? In the end, a lender is someone who is going to make money from their customers by lending money, and the there really is no service or product involved in the transaction, it's just interest on the time you get to use the money. All a lender has is cash that you can use, and they let some time pass by, then they get their money back with even more money as a fee.
So it's not too surprising when a loan company doesn't be 100% honest or transparent. That's where the infamous fine print concept comes from. Some lawyers, politicians, or regulators (or a combination of all three) make lenders put the exact terms of a loan down on paper so consumers can see what kind of obligation (trouble) they are getting themselves into when they sign for a loan. But do you ever notice the fine print is often so ridiculous, printed so small it's not even legible? Lending is at once both an ancient business and one that is tinged with corruption at some deep level.
Normally, the lack of transparency is only a little bad. For example, companies like Clear Creek Lending and Mobiloans both are very open about their policies and terms. If you want to understand some feature of their loans you can most likely find it at their website.
The situation over at Harvest Moon Loans couldn't be further from that if they tried to hide under a rock. The business of Harvest Moon Loans is just barely published at their website and consumers just do not know what they are applying for when they ask this company for a loan. If you think this is an exaggeration then let's review exactly how much information the company provides....
First, Harvest Moon doesn't tell you how much you can borrow. It's just nowhere on their site. We don't know if we can borrow $200 or $2,000. There's just no information and no way to tell.
Second, we don't know what the interest rates are for a loan with this firm. We do not get the interest rates, no information about the APR, no information about finance charges or anything at all about how much money this loan will cost the consumer. That's not very helpful, there are not many other businesses that could get away with not informing the customer about how much money the product will cost them. Imagine going into a clothing store or a toy store, or any store, picking up a product and just walking to the cashier. Then you say "I'll have this one" and just be willing to pay whatever the sale price of the item is? This is preposterous for any other business, but for some reason it's alright with lenders (like Harvest Moon Lending) to just expect the customer to pay whatever their determine (and unpublished) cost for the loan happens to be.
The third problem that Harvest Moon Lending has is that there is no information listed about how long the loans last. The duration of the loan matters just a little bit, don't you think? This particular failing is especially galling for me, as the length of the loan has always been the single most important factor to me when I was borrowing from tribal lenders. Every lender that I shopped at always published the duration of the loan and it is just essential information. This is a gaping hole of information that is just not acceptable.
The company just doesn't provide any good information. What information do they provide? Well, they do let you know that if you apply by 4pm EST you will get your money the sent to you the next business day as long as you are approved. And they let you know what you need to be approved, it's the usual batch of requirements, such as being 18 years old, having a job, having an email address, and having a functioning checking account. But neither of these matter that much to people. Yes, we already know that the money will be sent in 48 to 72 hours. Yes, we know we need to be 18 years old and have a bank account that actually works so you can transfer over the money. Those pieces of information are worthless because we already assume and know the answers to those basic concepts.
It's just so silly, this company has a lot of nerve. Then on one of their pages the company writes about why you would want a loan from them by saying "superior services sets us apart." What? This is a joke, right? Superior services? Not only are the services at Harvest Moon Lending not superior, here's an important update: there are no services at the company at all, at least not in the realm of information.
Harvest Moon Lending must assume that we are all so desperate, that we are all in such bad shape, that we will just come running to figure out that they offer X amount of money to us at Y terms and that we will have Z amount of time to repay the company. Everything will just work itself out, as long as we get that superior service loan from them as quickly as possible.
Thanks, but no thank you. Harvest Moon Loans is not interested in giving us any information about their product. Alright, that's fine, but I have absolutely zero interest in asking this company for a loan. There is no reason to even begin considering conducting any business with this company, as they have provided no reason for us to be interested. Their website is just a waste of space floating out in the middle of the internet, with no direction and no information, and no purpose.