The open secret about tribal loans is that in general they will approve everyone and anyone who has a pulse. That's a little bit of exaggeration but in truth there are very few barriers to getting a Native American loan. Some companies are more lenient than others though, and some lenders are actually focused on loan quality rather than just pushing the quantity of loans issued.
If you don't already know the story on Native American loans here it is...
The plan that tribal lenders put together roughly seven years ago was to create and issue unsecured consumer loans to as many Americans as possible. It was good timing on their part because seven years ago (in 2007) the credit markets were starting to tighten up with the near collapse of Bear Stearns and the quiet collapse of Countrywide Financial. Then in 2008 obviously everything did collapse and the financial system of the world almost imploded.
Even though the financial system did not fall apart it was very damaged and one of the biggest losses from that trouble was the fact that banks and credit unions were no longer interested in being in the business of consumer lending. If you wanted a signature loan, a credit card or a personal loan that was just too bad because you were not going to get one.
Into this empty field of unsecured lending stepped over 200 Native American lending companies. Some of them have gone on to be very wealthy, like Spotloan and Great Plains Lending. Some have faded into total obscurity, like Kashia Lending and Superior Funding. Others have gone down in flames in a very public way, notably Western Sky Financial.
However, the total experience and output of the Native American lending community has been to reestablish unsecured lending in the United States. Now, it's not quite that simple because tribal loans approach lending in a completely different manner than the banks and credit unions did a decade ago. The traditional banks would conduct some basic, normal (and at the time unquestioned) underwriting policies.
Tribal loans only have a few basic requirements and none of them involve the credit history of the borrower. Instead the tribes just want to know if the borrower has a job, how much money they gross in a month, if they are 18 years old, and if they have a checking account.
These basic requirements are designed to allow as many consumers to be drawn into getting (and getting approved for) a Native American loan. Unlike the banks the goal of tribal lenders is to establish as many customers as possible. The assumption by the tribes is simple, which is the more Americans they can get under their umbrella as borrowers the more money they will make.
That includes customers who struggle to repay, only partially repay and those who walk away from their debt immediately without repaying a dime. All of these factors have already been planned for and considered. Native Americans make more money by getting more customers, at this point it is just a numbers game for them.
Now that we have made the reasoning and methodology for Native American lending clear, we can move on to the tribal loans (issued from which particular lenders) that approve everyone (or just about everyone) who applies with them.
That list of easy to qualify for tribal loans is below...
- One Click Cash
- 500 Fast Cash
- Advance Me Today
- Fast 123 Money
- Fox Hills Cash
- Green Trust Cash
- Greenline Loans
- Quicker Cash
- Rolling Plains Cash
- Seaside Payday
- Sovereign Advance
- Tremont Lending
- United Cash Loans
- US Fast Cash
- USA Money Shop
- West River Cash
All of the tribally-based companies listed above are those that require the least amount of effort to get qualified for their loans. And the list above should not be confused with the list of the best tribal loans you can get, that is a much different list.
This list is for people who want the least amount of trouble and the fewest requirements in order to get their loan. If a borrower has a part-time job, or if they are living on some type of government assistance like Social Security, SSI, Disability or a defined private (or state) pension plan then they need a lender that's going to be very easy on them when it comes to getting approved for a new loan.
Being asked to provide more information, or being informed that your current income level is too low, this is the type of situation that many consumers (future borrowers) are wanting to avoid. By using the list above to work with a tribal lender that really does not care about your past, or even your current status, it will make getting a short-term loan all the easier.
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