Plain Green Loans
plaingreenloans.com
Plain Green Loans is able to provide short-term loans to people all across the US because they operate from an Indian Reservation located in the state of Montana. Reservations aren’t subject to the same laws and regulations as any states in the US due to the nature of them. This allows them to conduct business easily. Plain Green Loans has outstanding third party reviews and features very competitive rates.
Something that sets this company apart from other online payday loan companies is that the more you use their services, the higher the dollar amount you qualify for. If you get a $1000 loan the first time and pay it back without missing payments or needing extensions, the next payday loan you get could be up to $1400 and have a reduction in interest up to 60%. This is an amazing system that almost guarantees repeat business.
What They Offer
Plain Green Loans offers short-term payday loans to people all across the US. Unlike traditional payday lenders, this company realizes that if you pay back a loan in full within 30 days, you’re going to end up very broke no matter how you look at it. To avoid this, they offer “installment” loans that you can pay back for up to six months in some cases. This really eases how much is taken from your bank account on any given payday though you may end up paying some additional fees in the long run.
The official website is extremely clear in showing potential customers exactly how they work and what you can expect from your payday loan experience with them. This company doesn’t match you with lenders in your area, they are the lenders themselves.
Where They Are Located
This company is located on the Rocky Boy Indian Reservation. Reservations are technically considered “sovereign nations” so they don’t abide by any of the normal regulations instituted by the US or state governments.
The headquarters is in Montana but most people will use their services by visiting the website and completing the payday loan application. When that is completed, a customer service representative will go over the details of the loan and tell you what you qualify for. You can access the site from most computers and newer mobile devices.
Rates/Terms
The rates and terms offered by Plain Green Loans are extremely competitive. A first time borrower will typically qualify for an amount between $250 and $800 with an APR of 360%. Naturally, if you pay this off quickly, you won’t pay very much back but if you utilize the 12 payment method, you’ll end up paying back close to double what you borrowed. This sounds like a bad deal but the small payments make a huge difference.
Additional Info
The loans offered by this company are meant to be payed off over a long term period at relatively small amounts instead of completely on your next payday. To understand the rates a bit better, you can compare them to a rent to own company where you make a lot of small payments over time to buy merchandise. You end up paying more than retail price but it’s convenient.
