Each year it is a good idea to take the time and see how many online lending companies have entered the market, plus take a look at those that have gone out of business. This is a challenging business to keep up with because unlike other industries where the financial press, or some level of press coverage keeps tabs on the comings and goings of industries, the world of online lending is largely ignored.
Why is that?
Most likely it's due to the fact that the business is considered a touch to the low grade side, plus it is boring. When you look at these hundreds of direct payday loan lenders you quickly realize there is very little diversity among them.
You would guess that with so much competition from so many sources the business of online lending would have a plethora of financial choices, right? The reality is there is very little choice. There are basically three types of short-term loans that are available online and those are the extremely basic payday loan, the slightly more involved installment loan and the sometimes infrequent line of credit.
There is another big schism when it comes to online lending, and that is whether the lender is a Native American lending company or a state licensed lender. These are the two groups, there is no third option if you want to own and operate a direct lending company online. You must either be licensed through one of the states or you must be lucky enough to be part of a federally recognized tribe that is then allowed to qualify for issuing tribal payday loans or the installment loan product.
Trying to list all of the direct payday loan lenders that have state licensing would be almost impossible, there are literally thousands of them. Some of the biggest are Check Into Cash, ClickNLoan, CheckNGo, InPayday, LoanByPhone, and Speedy Cash. That's by no means even close to the definitive list as there are so many more it would take pages to fill them up.
But for the Native American lenders, we can create a pretty solid list of direct payday loan lenders. Some tribal lenders issue lines of credit and more than a few issue installment loans, so we will strip those companies out of the results so we are left with truly payday loan companies. Below is the list of direct payday loan issuers who happen to be tribally-affiliated and are much more simple to qualify for than the typical short-term (state licensed) lender. This list is not definitive but it does include at least 90% of all tribal payday lenders...
- 500 Fast Cash
- Advantage Cash Services
- Ameriloan
- Arrow One Lending
- Bear Paw Cash (out of business)
- Big Eye Lending
- Big Sky Cash
- Black Card Loan
- Black Pine Lending
- Blue Frog Cash
- Blue Thread Lending
- Boulevard Cash
- Bright Star Cash
- CashAdvance.com
- Cash Advance Now
- Cash Fairy
- Cashwell Loans (no longer taking new loans)
- Castle Payday (very popular lender)
- Fast 123 Money
- Fast Day Loan
- Fast Money Store (this is a website company, no physical store)
- FastCash2U (is now out of business)
- Gentle Breeze Online (popular tribal lender)
- Golden Valley Lending
- Great Basin Finance (this company vanished, no longer available)
- Great Eagle Lending
- Great Sky Cash
- GreenCorp Cash
- Green Gate Services (sometimes called Green Gate Loans)
- Green River Loans
- Green Trust Cash
- Greenline Loans (this is the old Spot On Loans)
- Harvest Lending
- Harvest Moon Loans
- Iggy Loans (this is a brand new tribal lender)
- Insta Plata (Spanish speaking service for payday lending)
- Instant Cash USA
- Kashia Lending (relatively new company)
- Lakota Cash
- Lending Booth (sometimes has been on hiatus but still in business)
- Minute Funds
- Money By Phone
- Money King Loans
- Money Loans Quick (very old looking site)
- Mountain Summit Financial
- My Back Wallet
- My Cash Advance
- My Next Paycheck
- My Payday Advance
- My Quick Funds
- My Silver Safe
- My Sure Cash
- National Payday Loan
- New Vista Loans
- North Cash
- One Click Cash
- Payday City (company is out of business now)
- Pepper Cash
- Payday Loan Pros (sometimes referred to as PDL Pros)
- Quick Cash Ahead
- Quick Credit 911
- Quick Credit Us
- RadiantCash (they have the RadiantClub for lower rates)
- Ripple Cash
- Riverbend Cash
- Seaside Payday
- Sky Loan Online (also called Sky Lending)
- Sovereign Advance
- Splash Cash Advance
- Star Cash Processing
- Target Cash Now
- TLC Funds (also called Trusted Lender of Choice)
- Together Cash (out of business)
- Tremont Lending (very new firm)
- Tribal Advance (this is actually a loan matching service)
- United Cash Loans
- US Fast Cash
- Virtual Cash Loans
- White Hills Cash
- Your Fast Payday
That's a lot of tribal lenders and that isn't a complete list, plus remember we left out companies like Spotloan, Superior Funding, Great Plains Lending, Plain Green Loans, Clear Creek Lending, Mobiloans and a few others because they issue either lines of credit or installment loans. In this particular piece we want to focus exclusively on direct payday loan lenders that will work with consumers who have bad credit (or no credit) so that people do not have to go through all the problems of working with a bank or state licensed lender. These firms will require more extensive information, probably will require the applicant to fax over important documents, will have to submit to a credit report check and potentially a credit score check as well. Plus, the state licensed lenders will want two (or three phone numbers) and they will want you to have been on your job for a long time. They will also want at least two personal references who aren't family members and some lenders want more references.
The above list of tribal direct payday lenders will work with individuals who do not have good credit and they will make the application process much more simple than dealing with a state licensed lender. There will be no background or credit checks, the need for references is not a factor and if it is part of the application it is much less intrusive than the state organized lenders.
This list was built mainly because no one has organized and put together any type of list for what tribal payday lenders are out there.
Without any type of centralized data there would be no way except to start searching for a loan without any guidance.
With this list of payday lenders at least a consumer can run down the list for new names, or try contacting different companies to see which one offers the best deal. Sometimes to get a new customer these tribal lenders will bend their rates (and rules) to get a new person to sign-up. Feel free to use this list as best you can. By the way, if you see any other payday lenders that weren't on this list (and are tribally organized so that they provide easy approval) please fee free to comment below to update everyone as to the new tribal lenders.
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