Online Green Loan was a small tribal lending website that is now out of business. But the funny thing is was it ever it's own business? A better way to ask that same question is this: was Online Green Loan just a subsidiary company of Plain Green Loans?
The answer is "yes" it was part of Plain Green Loans. Not that this is a big secret or anything. If a customer were to have spent even a minute or two at the Online Green Loan website they would have noticed a stunning similarity to the Plain Green Loans site. Not only was the language the same but also all of the branding, which included the colors, the theme, the font, and basically it was done in the exact same style as the Plain Green Loans branded image.
The only thing that was different at all when comparing Online Green Loan to Plain Green Loans was the fact that it seems that Online Green Loan had the ability to "shop" your loan application should you not qualify for a loan with them. The Online Green Loan site had language that read "do you provide a loan matching service" and the answer to that question was yes, they did.
The Online Green Loan site when on about their loan matching service by saying: "Yes. If we are unable to provide you a loan, we can help find you another lender. You can opt-in to this free service by checking the appropriate box on your application."
This is a significant difference from Online Green Loan and (what evidently is the parent company) Plain Green Loans. The purpose of having a loan matching service is to still try to get a loan for borrowers who have difficult credit circumstances and troubled credit histories. These can include things like bankruptcies, repossessions, foreclosures, short sales, and default of any type of debt, such as a home equity loan, a personal loan or credit card debt.
The loan match service is also used when a lender has a threshold of an applicant's monthly earnings. For example, if a would-be borrower failed to meet the minimum requirement for monthly income that was designated to qualify for an Online Green Loan financial product, then that applicant would not be approved for any loan. But with the loan match service that applicant's information (should they have so elected by checking the box that was mentioned) would be distributed to a select batch of pre-qualified (and pre-arranged) lenders.
This list of pre-arranged lenders most likely included other tribal lenders, but it very well could have contained a number of state licensed short-term lenders too, we'll never know. If one of these companies in the Online Green Loan network accepted the credit and income levels of the applicant then they would be matched and a loan offer would be provided to the applicant.
This feature is not to be found on the Plain Green Loans site, so we can assume that they either have discontinued that portion of their lending program or that it was always a dedicated component of the Online Green Loan site.
Beyond the loan match service, the Online Green Loan was very similar to the lending program of Plain Green Loans.
Now that the Online Green Loan site has gone out of business the only option left is to apply with Plain Green Loans. I feel that this has been (and really was) the only way to go. I had kept an eye on the Online Green Loan website through 2013 and never really understood the point of having this offshoot or subsidiary firm. Apparently though it may have been that loan matching service was one of the reasons they kept the site and the fact that the overall company might have pulled in more customers through the marketing of that particular website.
Either way we no longer have Online Green Loan in our family of Native American lenders, which is alright. The "company" never really looked as though it was a standalone firm and since we still have the (very high quality) Plain Green Loans in business we haven't lost a thing.
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