Pepper Cash claims to have installment loans on their website and the question is do they? The answer is "who knows" because their website qualifies as the least informative of all the tribal lenders. Most loan companies will explain something about their loans, as in the type of loan that is being offered. But not so with Pepper Cash.
Instead, we have a company that has a website and that site says that you can borrow up to $1,000. Pepper Cash also mentions that first time borrowers will qualify for an amount ranging from $200 to $1,000 so don't even begin to plan on getting $1,000 on your first loan unless you have a really excellent income because when a firm hedges like this (with the $200 small end of the loan spectrum) there's a very good chance you will be offered $500 or less.
The problem here is that we're left not knowing that much. When Pepper Cash is searched (and located) online there is a mention next to their title of "installment loans" but when you land on the company site there is zero mention of installment loans. Truly, there isn't one word. However, there isn't any mention of payday loans, either. The company just leaves the door wide open. We only know that a customer is able to borrow between $200 and $1,000. No time frame provided, no scope of what type of loan this is, and no mention of what the interest rates will be charged on the loan.
It's not too uncommon for tribal lenders to omit their interest rates. They either do not want you to see how expensive the rates will be or they want to adjust the interest rate for each customer, so they can't post the rates online or they will lose their flexibility. That's not very good business practice but I do understand what they are doing. But a company not posting to the public even what type of loan they are issuing? Pepper Cash just seems to assume that there are enough desperate customers that will just see that they can get any type of a loan and come running without any questions being answered.
Here's another funny situation. The company posts on their FAQ page the following statement, which reads "You Have Some Questions" and then proceeds to answer almost none of them. They explain that they are a tribal lender and that you will not have any recourse (legally) if you are unhappy with the loan you get. They also talk about how to qualify for the loan and how fast their customer service team will jump on your application. Thanks, but we know that information already.
The fact that Pepper Cash just floats this website with so little information is just not really acceptable. It's hard to recommend a company that does not publish their interest rates but for a company to say in their web results "installment loans" and then to have no information about the time period of the loans being provided is just crazy.
Is there anything positive to say about Pepper Cash? There are a few things. First, they do technically reach the $1,000 limit in a loan amount. But again, whether you can actually qualify for this amount is a question. The fact that they offer it at all sets them apart from a number of internet loan companies, including quite a few tribal loan firms, that offer $300 to $600 for their first time customers. Another thing that some borrowers might like is that Pepper Cash only requires a gross income of $700 a month to qualify. This is substantially lower than many other lenders these days. So a person that wouldn't even begin to qualify for a loan at Plain Green Loans or Great Plains Lending would have a chance to get a loan with Pepper Cash.
Overall, there just is not much here. And that's not necessarily a negative commentary, it's just that we don't know what Pepper Cash offers. Normally, I will start an email chain to get more information with a tribal loan firm and I'll also call them to ask questions about their products and history. But in this instance there just doesn't seem to be a reason to do that. If a company isn't going to bother putting the most basic information on their website then why should I try to find that information by calling? In other words the fact that such a low level of information is provided is enough to pass judgment on this company.
Unless you can't qualify for a loan anywhere else I wouldn't go to Pepper Cash for a loan. The one exception here is that if you have very low monthly income you could apply because this might be one of the few places you could qualify for a loan. But make sure to ask questions, get clear answers and be ready to negotiate for better terms. Otherwise, just head over to Spotloan or Plain Green Loans.
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