Tribal payday loans are the more common (but less popular) version of tribal loan products. The higher quality tribal financial product is the installment loan which only a fraction of tribal loan shops offer, only about 20% of all the tribal lenders offer an installment loan.
So let's get away for a minute from the installment loans (even though I prefer those type of loans) and stick with the payday loans. But there needs to be this caveat stated about tribal payday loans, which is I would personally always lean towards getting a tribal installment loan rather than a tribal payday loan.
Having said that, here are my reviews of some of the larger payday lenders...
1) Arrow One Lending
2) Greenline Loans - this company is the old Spot On Loans and has changed their name (and the look of their website) but this is the same old team from Spot On Loans. Even though the web has a number of boards that are full of complaints I don't mind Greenline Loans. The company offers a basic payday loan product which tops out at a maximum of $500.
3) Advantage Cash Services - not a bad company, but nothing that special either.
4) Castle Payday - this company was never very useful but now they have been limited (most likely by the push from the New York Attorney General) in their use of the electronic banking system. The translation of that means that Castle Payday may not use the checking accounts of most banks to transact deposits into a customer account and they can't use that same account to deduct funds for the repayments due to the company. They have tried to come-up with a variety of other methods to allow them to continue to do business with their customers but none of them are good. They have tried credit cards, payment cards, debit cards, prepaid cards, MoneyGram, etc. What was already not much of a good situation is now less than useless.
5) Green Corp Cash - or is it GreenCorp Cash? Well, it doesn't matter because this firm limits their borrowers to only a few hundred dollars and the interest rates are not very good, so there isn't much of a reason to borrow from this company.
6) Money By Phone - this is a growing tribal payday lender which offers some basic loans. The company is not bad but not that great either. One good thing is that they have really solid internet security features, so your information will be secure when (and if) you decide to borrow from Money By Phone.
7) US Fast Cash - this is a sister company to some other Native American payday lenders like 500 Fast Cash and United Cash Loans. If you've followed the site here for any length of time you know that I'm not a big fan of this group of firms. It's not really a fair dig because many other lenders follow the exact same format that US Fast Cash. But here's the real problem with these companies, which is none of them provide any information about their loans. They will not say on their website(s) how much money you can borrow and they don't even give any kind of hint as to how much money. Some loan companies will not tell you how much they'll loan you but they at least give some general allusions as to the range they're willing to lend. Plus, the company does not disclose their interest rates, which most tribal lenders do in fact provide. This company for me personally is the bottom of the scale due to not just their low level of quality but their lack of information about their low level of quality.
8) United Cash Loans - this firm is essentially a clone of US Fast Cash, with roughly the same policies and methods in place.
9) Cover Me Cash - another short-term tribal lender that tries to vary from the other companies by having a sense of humor. They have a pink blob that keeps appearing on the site and they try to communicate and relate to their customers on a more simple and plain way. It's not a bad idea but the company doesn't do much for the consumer because they still carry those high interest rates and same extremely short time to repay the loan.
This list could keep going on, there are probably at least 60 tribal payday lenders that are currently in business as we start 2014. They come and go, a few have gone out of business and a few have merged, but there is no short supply of Native American payday lenders. They all offer the same basic financial product which doesn't do much to help the financial status of the people that use it.
By the way, there is a short supply of tribal installment lenders. Those are the companies that I tend to use. You can find that list of tribal installment lenders over here.
Feel free to add any tribal payday shop that you use below in the comments. Chances are I will already know about them and let you know why I would stay away from them.