AMERILOAN REVIEWED AND NOT RECOMMENDED

If you are interested in getting a tribal payday loan or installment loan (either one) then it's time to look elsewhere.  Ameriloan offers a vague, poorly defined payday loan that has zero appeal.  The company brings nothing in the way of value, they do not appear to have much flexibility, and their website reads like a lawyer's laundry list of terms, rules, demands, expectations and obligations.

My review of Ameriloan?  Simple.  No thanks.  Here are a few reasons why....

The website does not provide details on the loan product.  We know that Ameriloan is a Native American lender.  We know that they loan money.  We know that the loan is short-term in nature.  And that's it.  We do not know how much we can borrow and we do not know what the interest rates on that amount will be.  Don't you think this is important?  You have to love how their website emphasizes the fact that you will owe the money on your next payday, and there is also a big push about how it is your responsibility to repay the loan.

What a bad attitude.  This is how you approach your new (and potential) customers?  Everything about this website is all about Ameriloan.  As the customer it is my job, my responsibility, my obligation to do all these things and yet I am the would-be customer.  Meanwhile, I'm trying to inquire about a product and there is zero information available about that product.

Imagine going to a car dealership and instead of being shown some cars you are instead forced to sit down, fill out several pages of information and then the salesman returns to tell you exactly what car you can purchase.  Nice mean spirited, Orwellian future. 

Another problem with Ameriloan is they make a reference to their extended payment plan.  But again, there is no details.  So I know that I can extend my loan with you.  But for how long?  What are the costs of that extension?

Here's a third thing I don't like about this company, and that's the fact that they actually state in their FAQ that a new customer can't get a better interest rate than what the company offers.  If you've been reading at this site for any length of time you know that one of the best ways to handle Native American lenders is to negotiate for lower rates.  That practice works more often than not.  Until you sign that loan document the lender has no power, no money and no customer, so it's in their interest when you say you are a potential customer, if the company can accommodate your request.  But with Ameriloan they are just saying right out of the gate that you can forget it, their rates are non-negotiable.  Why?  Just because you say they are?

Ameriloan needs to realize that there is a lot of competition out there now.  There are hundreds of online lenders (maybe thousands at this point) and there are at least 70 other Native American loan companies currently operating.  That's the minimum, there could easily be many more.  So when they have an ugly, flat website that focuses on their needs, their demands, their rules, and how you need to be responsible, how you find out about your loan amount after you apply, and how you can't negotiate with the company, well there just isn't a reason to work with this company.

If Ameriloan wants to have all these rules and rude demands on the front of their business dealings that's their decision, but it's a mistake.  Are we all adults here?  Like the one where it is your responsibility to repay the loan on time.

No, really?  I thought it was the guy down the street's responsibility to repay the loan on time.  I thought I could pay it a year from now when it's more convenient for me.  Of course I know I have to repay the loan on time.  Ameriloan, with their pretensious verbiage on their website, acts as if their customers are naughty children that need to be reprimanded for the (inevitable) errors.  This company must have had some serious problems with previous customers for them to be so uptight and unreasonable.

Is there anything good about Ameriloan?  Yes, the company has excellent website security through two different companies.  I wish all tribal loan shops would have this level of security.  It only makes sense in this age of constant identity theft and hacking.  So we can congratulate Ameriloan for that good decision.

Unfortunately, it is a wasted effort. 

The company doesn't have the right information for me to make a decision.  The company has a bad attitude when it comes to customer service.  The company is solely focused on themselves and their interests, rather than on what they can provide for the customer.  Ameriloan just doesn't understand how to run a good business, they don't understand branding, and they are assuming that their customers need them.

They are wrong on all counts.  We (the borrowers) do not need them.  We do need companies that are understanding when that we might need help, that we want the information published clearly, that we want to know what we are applying to get, and that we want to be respected.

Ameriloan doesn't get this, at least not yet.  Guys, go make a new website, publish your offered products, and hire someone who knows what customer service means.  Go take a look at the Clear Creek Lending website to get an idea of what a good tribal lender can provide.

Comments

[Chasee Mays]

I am a black woman and I want you to know that these people didn't help me one bit. I have never made much money and honestly I know I never will, but why can't I at least be provided respect. My review is that all these lenders are mean, low ball operators who do not care about people and guess what they especially do not care about people of color.

[loan shopper]

I love this website, it has helped me so much, just wanted to say thanks.