Kashia Lending is a newer tribal lending company and the company is so new in fact that there are hardly any reviews of the company on the internet. That's very unusual, it shows just how brand new this company is. So this post is a bit of misnomer, since there are not any reviews available on the internet.
Kashia Lending doesn't need a lot of customer reviews for me to move away from the company. It's nothing personal against Kashia, the company is doing what so many other tribal lenders have done already.
They aren't doing anything differently. If anything, they have a much cleaner website and that site has excellent web security to protect your financial data, so that's a good thing. The real problem is the fact that they are not different from any other Native American payday loan shop. They offer the same small dollar loans, they offer the same cost structure of $30 for every $100 borrowed. Kashia Lending offers the same weak timeframe to repay the loan, which is nominally 14 days, which assumes you are getting the loan right around your payday and that the loan will be due 14 days later, when you get paid again from your employer.
See the problem? There just is no competitive advantage or reason that Kashia Lending draws any attention. They are just another repeat. It's such a shame too, because tribal lenders are free of all the legal restrictions, regulations and rules that nearly all other lenders (the state licensed lenders) face for each and every one of their loans.
I just wish more tribal lenders would mimic the actions that a company like Mobiloans (also a tribal lender that happens to be innovative) has taken. Mobiloans created a line of credit for individual borrowers of up to $1,500 which can be accessed anytime, at the discretion of the borrower. The interest rates are low and the loan is highly flexible.
Why doesn't a company like Kashia Lending do something creative like this? They would get more attention and they would get more business. Instead, they've chosen just to imitate a very uninteresting loan which doesn't help people.
Getting $300 or $500 for anywhere from 11 to 17 calendar days just won't help me and I would maintain it won't help most people. This isn't much of a loan and at least if you were going to offer this short-term loan, why not be creative with the repayment structure? Or what would be even better would be to offer a substantially lower interest rate than the other tribal payday lenders. But that's not the case, it's the very plain 30% interest due every pay period.
That's just not enough for me. So if you want a review then here it is, the fact is that Kashia Lending is a fine company offering a low grade product that is offered by many other lenders. There just is not much to review, in more ways than one.
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