On the surface it looks as though Red Sky Loans is just another tribal lending company out to push a few unsecured, extremely short-term loans. But a little more digging shows that the company is not involved with personal lending at all, and despite the name of the company they are not tied to any Native American organization. Red Sky Loans sounds so much like a tribal lender I'm sure there are more than a few people who have confused the company as an unsecured lender.
In reality Red Sky Loans is not a lender at all, but a company that provides quotes for refinancing homes. This company falls under the category of false alarm, where we believed we had found another Native American lender and that was not the case. So in case you are looking at any of the tribal lending companies in the big list please disregard Red Sky Loans. If you are looking for mortgage lending then you may want to check into Red Sky Loans but this site (Native Loans) will not be endorsing or dismissing the firm since they are engaged in a completely different area of lending.
Another note about this company is are they even still in business? Sometimes the company website will be functional and other times it's as if the firm is closed or out of business. All around this is not the place to turn if you are trying to get a Native American loan.
All of the other "sky" tribal lenders that were around were never tied to this mortgage refinancing third party operator. Just as a side note, most of the 'sky' lending companies that had tribal affiliations are now out of business. The most popular of these (and the company that I thought owned Red Sky Loans, mistakenly) was Western Sky Financial. This was the largest Native American loan company by far, both in terms of the number of customers that they had and the amount of advertising they would push out on the radio, television and print.
Western Sky also owned other smaller tribal loan shops like Big Sky Loans and Great Sky Financial, the list goes on because there were several subsidiaries owned by the larger Western Sky outfit.
Red Sky Loans never had any entanglement or business dealings with the group of lender firms owned by Western Sky. Red Sky never had the similar business model as Western Sky either, because Red Sky Loans is (was if they are out of business) a mortgage matching which does nothing for anyone looking to become a customer of a tribal lender. This isn't to say that Red Sky is a bad company and they might be worth looking further into for someone who is planning on procuring a Native American loan. A big difference is that tribal lenders are offering unsecured loans while Red Sky Loans is trying to find a match for a mortgage home lender.
There are two different types of customers being served here and that makes it hard to compare the two groups. Borrowers looking for a mortgage quote are not going to be interested in a high interest loan that has to be repaid in two weeks or even two years for that matter (not that any tribal lender is offering two year loans at this point, Western Sky was the last unsecured lender to make those offers) and at the same time borrowers trying to get a $500 loan wouldn't even begin to qualify for a mortgage loan.
This has been the long version of saying Red Sky Loans is coming offer the Native American list of lenders and that it was a mistake to have ever put the company on the list in the first place. Don't judge a lender strictly by their name is the lesson here.
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