, pub-0016852085759039, DIRECT, f08c47fec0942fa0 Native Loans: TREMONT LENDING


August 2023

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31, pub-0016852085759039, DIRECT, f08c47fec0942fa0



Tremont Lending is the newest Native American lender to arrive into the already crowded field of tribal lenders.  The question is do you as a consumer want to look at what kind of financial program this company is operating?  Assuming the answer is yes, then let's look at some Tremont Lending reviews.  There aren't a lot of places to find these reviews but our friends at the BBB have a few listed there and the reviews are not good - literally all 1-star which is the worst rating.  Here we go...

The first review goes as follows:  "This company should not be trusted. They qualified me for a loan then denied me a loan. So i am letting everyone know not to trust this company!" 

So this is a common complaint for payday lenders, but usually not for Native American lenders.  Most likely what happened was the loan information was not able to be verified. The would-be borrower has a good point though, why did Tremont give them the "approval" ahead of time?  Most likely they 'approve' anyone and everyone who asks for a loan.  And then they will actually take the steps to run the employment verification process.  This way they don't let any potential customer 'get away' - they keep them on the line with the (true or not) unofficial approval and then sort everything out after they do their background checking.  Most of the time it works out because the applicant has the job that is required but when it doesn't work out - then it's 'oh well' for that early 'approval' which turned out to not be an approval.

Looks like this problem is more widespread at Tremont because the next review is an even worse version of the first, where the reviewer writes:  "Tremont lending approved me for and I signed my documents which thank god I kept to prove and I never received the funds. Now they are coming after me with a lawyer for the funds I never received. SCAM and it's BS" 

So in this instance it looks like the applicant was well on their way to getting a loan but then Tremont decided to back out of their early commitment.  Most likely what happened was they were trying to get hold of the borrower's employer, left a voicemail and/or email and kept waiting.  To keep things moving along they told the customer to fill out the forms and to keep the ball bouncing down the road. The problem probably came up when the lender could never get ahold of the HR dept. or manager of the would-be borrower - so they pulled the plug on the loan.  You can see why the customer would be upset, everything appeared to be moving towards getting the loan and then the deal falls through due to the inability to get a phone call done in a small window of time. 

Tremont Lending is not one of the Native American lenders that I would say to use. The company doesn't stand out from the pack of other tribal loan companies offering the exact same product.  Same dollar amounts, same type of approval process, same repayment terms. Not for me.