Blue Frog Cash appears to be out of business, or at a minimum their website is no longer operating. Plus, it's a little worse than their site simply being "down" or not operational, because when you go to visit the company website it now shows a number of flimsy ads that are not related to getting a loan or anything tribal in nature.
It's more like some other company has taken ownership of the Blue Frog Cash page and is trying to make some cash off the old Blue Frog customers who are returning to the site, by selling them some useless services or low grade products. Everything that used to be associated with Blue Frog Loans, like the artwork on the page and the friendly blue frogs, all the notations about this being a tribal lending entity, everything that relates to the old company is now gone.
This update follows a very recent one I just did about Blue Frog Cash that talked about there was no one really complaining about the lender and not to take that situation to heart, as it was more likely no one was using the services of the company rather than everyone was just happy with the company. I think I was spot on with that assessment as we now see the company has folded. This lender simply had no business and they probably had a zero dollar marketing budget or a tiny budget if there was one.
This isn't much of a surprise to me. When I first started monitoring (and utilizing) the Native American lending industry there were about 50 to 70 total tribal lenders in existence, and that's including all tribes in all states. At this point in time (April of 2014) we have well over 200 total tribal lenders, some of which are offshoots of other larger lenders and some tribal lenders are operating with multiple retail names, but either way when you put all these retail (public facing) loan companies that are tied to tribal lending we have more than 200 outlets for the public to use. And that's probably just a few too many because the market of people who are willing and able to take on high interest short-term debt is limited. It's not a static number of people because there are consumers who are always getting into trouble, there are workers who are always losing their jobs and there are young adults who keep turning 18 every day, which will make them eligible to start taking out loans. In the end there are only so many millions of Americans that will try to take advantage of Native American loans and with over 200 operators it makes it harder for all of the tribal lenders to stay in business, especially the smaller companies.
That would be the demise of Blue Frog Cash, they were just one of the smallest lenders and in the scope of the entire tribal lending industry they just didn't even show-up on the map. I was surprised when the company had absolutely no complaints anywhere online. That's so unusual and it spoke volumes about just how much trouble this outfit was in, because I knew they had been around for at least a year so by all logic (all prior evidence) there should be a certain degree of complaints posted against them. And there were zero instead. That was the red flag that said this lender is not making any loans. What happens to a lender that fails to make any loans? Right, good bye.
What did we lose with Blue Frog Cash going by the board? Nothing. The company issued some boring, basic short-term loans that weren't competitive to other, higher quality and better financed tribal lenders like Plain Green Loans and RadiantCash. So this is just a note to the fact that we lost another tribal lending entity and not a lament to the cute blue frogs that were scattered all over the company site. I think that's where the company spent most of their marketing money, on those fancy blue frogs on their site. What a waste.
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