Issued by Indian tribal lenders or by the Native American lenders, tribal loans are often considered as a substitute to payday loans. Those who need immediate funds apply for some of the best tribal loans which work like a credible substitute.
When the credit history of an individual is not in a good condition or the person is unemployed, then personal loan alternatives are quite limited. However, there are options still available in the form of payday loan. Payday loans are like short term lending options where money is available for those who are in need at quite high interest rates, dependent on the earning of the applicants. These loans are popular because no matter how your credit ratings are, lenders will be there to lend small amounts.
The best part is that there will not be any credit check or strict qualifying standard for the loan. Thus, in case of an urgent situation, payday loans come as a boon for the lender. Let us check some of the many options available.
5 Best Tribal Loans â Quick-Pick:
- Viva Payday Loans â Best for same day decisions
- Credit Clock â Best for lower loan amounts (up to $500)
- Money Lender Squad â Best for bad credit history applicants
- Very Merry Loans â Best for weekend funding
- Heart Paydays â Best for no phonecalls or paperwork
How to Apply for Tribal Loans â Quick 4-step guide:
Step 1. Visit a reputable loan finder â Those who need money or with bad credit can use Viva Payday Loans. Go through the information available like features and services before you apply for the loan. Direct borrowing is available quickly and quite easily with just a few clicks. Once the application process is complete, the portal searches for lenders to find a lending alternative.
Step 2. Complete the application form â Those who have used Viva Payday portal know that the whole process is quite straightforward and quick. You need to fill in your details like name, email id, loan amount, and personal details. However, it is recommended that the applicant decides on payback period and loan amount beforehand so that confusion can be avoided. You should be reasonable enough when selecting a loan amount so that you do not have difficulty in paying it back. Check all the information you have filled in and then submit your application form for approval.
Step 3. Get your decision â When you submit the application form, you will know within 2 minutes if your loan amount is approved. If the loan is approved, the applicant is directed to the lenders who will be providing the funds. If the lender needs, the applicants might have to submit further information which includes income proof, bank statements and address proof. No matter how the credit rating is, there will always be a lender that will be ready to provide the loan.
Step 4. Receive your loan â The borrower can read and accept the terms of the loan. The borrower can then sign the document and the funds get deposited into the bank account. Loans are usually accessible in the next business day and there is also a communication on the same.
What Are Tribal Loans?
Those who are in search of best tribal loans from direct lenders and with no credit check can get help from loans offered by lenders belonging to the Native American tribes. These lenders have the permission to operate lending business online in a few states. In the present times there are around 11 federally recognized tribes which are affiliated with such installment loans.
Many people confuse tribal lending with payday loan. However, tribal loans are quite like installment loans. These loans are quite like conventional loans where the borrower is required to pay a certain part of the loaned amount with interest. Thus, this gets easy for individuals to plan repayments as they do not have to pay the whole amount at once.
Such best tribal payday loans are generally safe but to get the loan. Such loans have high interest rates and are generally exempt from most laws. Thus, it is crucial to choose the right lender because in case of any dispute, the government does not have any authority to resolve.
Best Tribal Loans â Fully Reviewed
1. Viva Payday Loans â Overall Best Tribal Payday Loan
Viva Payday Loans is one of the leading payday loans providers. The provider offers facilities to all types of borrowers that include those with bad credit and those who are unemployed and in severe financial distress. Such people usually look for loans from a legitimate source, which can get approved fast, does not require a credit check and the process is simple.
Viva Payday Loans offers loans from $200, and individuals can apply up to $5000. The repayment period is usually between 2 months to 24 months. To apply for a loan, the borrower needs to fulfill a form and then apply. The application is reviewed by lenders and the loan gets approved in just two minutes.
The borrower needs to understand the rules and follow all terms and conditions of the loan. Personal information such as income proof, bank statements, resident proof and other details can be verified. As the loan is approved, the amount gets deposited into the bank account directly.
- Unemployed and bad credit borrowers welcome
- Extended repayment periods are available
- Loans of $200 to $5,000 are available
- This is available for applicants in some US States
2. Credit Clock â Best Tribal Installment Loan For Lower Loan Amounts
Credit Clock is considered as a short-term loan broker that is quite dependable and has successfully provided loans to thousands of borrowers with bad credit. The online broker deals with personal loans, payday loans bad credit. Loan amount varies and can be between $200 to $5000. Those who are looking for quick approval loan without any credit check, can check out the Credit Clock platform.
The loan approval procedure is quite simple, it is quick and transparent. Borrowers can go through the terms and conditions on the website and then go ahead with the application process. There is a minimum earning requirement mentioned on the website which should be met. However, this loan provider accepts applications from only American citizens with addresses.
- It takes just a few minutes to apply for a loan
- Money disbursement takes place in just 24 hours
- This is completely safe and a legal portal.
- Borrowers need to have $1000 earnings to be eligible for a loan.
3. Money Lender Squad â Best Tribal Loans For Those With Poor Credit
Money Lender Squad is the portal which offers a low APR loan for people who do not have a guarantor and those who live in the USA. That is not all, individuals can also apply for bad credit payday loans and there will not be any credit check for such applications. The loan repayment period is within 24 months or can be just above 60 days.
Those who wish to apply for loan, need to visit their website. The portal is convenient and easy to use. The entire loan application process is online which means that lots of paperwork can be saved. Loan disbursal and approval often takes time due to elaborate credit checking process and paperwork. Since everything is online, the entire process is fast and doesnât take much time. The system is totally automated and delivers applications to the lenders who can approve the loan in a record time.
- There are loans with extendable terms.
- The loan application process is quick, it is simple and uncomplicated.
- There is no requirement of any guarantor
- Those with a low credit score might have to pay high-interest rates
4. Very Merry Loans â Best Tribal Loan For Bad Credit With Weekend Funding
Very Merry Loans is another popular platform which helps borrowers connect with lenders in USA. This is an easy to use portal, engaged in helping people in financial distress and those who need cash immediately. It is often seen that people with poor credit score are often denied loans by lenders. Eligible borrowers have the advantage of getting same day payday loans
It is easy to apply for loans on Very Merry platform. The online application process takes just a few minutes. Loan disbursement takes another 60 minutes. Thus, when you compare this to other traditional methods of loan approval and disbursement, you will realize that this is fast and easy.
The loan portal has a simple structure and works in collaboration with many lenders. The amount of loan which they offer usually ranges from $200 to $5000. Thus, applicants can analyze their financial situation first and then borrow money. The repayment period is between 7 to 31 days when the loaned amount is $200. If long term loans the repayment period can be 24 months.
- Those with Bad credit or zero credit borrowers can also apply
- Loans are available on long term basis
- The approval process is fast, simple and easy
- Interest rates and fees tend to differ based on location or residence of the individual
5. Heart Paydays â Best Tribal Loan With No Phonecalls or Paperwork
Quite a well-known provider, Heart paydays is known to help people with getting their loans approved in a short time. Those with bad credit or unemployment can also apply for loans through the portal. Individuals who have a bad credit score are not eligible for loans from banks and other financial institutions. How do they arrange their finances or meet their emergency expenses in such a case?
Heartpaydays is the platform which provides loans to such applicants especially to those who live in some of the busy parts of the city. Through this portal, there is a scope to get their loans approved easily. Loans are available from $200 to $2000, and the amount can be paid off in 60 days.
The online portal is easy to use and applicants for apply for loans in just 5 minutes. The platform is best known for providing loans to all those who couldnât get a loan from another provider due to bad credit ratings. Loan disbursement does not take time and is possible in just one hour also.
- No additional hassles related to paperwork and phone calls
- Loan can be disbursed in an hour
- Lowest APR available on short term
- At times there are unexplained high interest rates on some loans
Features of Tribal Loans â Repay by Payday or in Installments
Here are some of the features of tribal loans from direct lenders with no credit checks.
Applicants are not judged by their credit rating which usually happens in conventional loans. Thus, the chances of getting loan approval are quite high which are quite a boon for families that struggle with poor finance or bad credit.
It is easy to apply for the loans because it does not require much of paperwork. Besides that traditionally, credit institutions do take time for evaluation and credit checks. However, this does not happen with tribal payday loans as brokers offer guaranteed loans. The amount is generally received in just a few days.
The conditions for loan are easy to understand and are quite clear. The details of the loan are clearly stated in the terms and conditions page. At times, the terms and conditions even have a provision where the borrower can repay the loan even before term.
Tribal loans do not need any credit background check like other loans. Credit inquires can often reduce credit ratings a little. However, with no credit check involved the entire process is easy and smooth.
Advantages And Disadvantages of Tribal Loans
If you are thinking about applying for tribal loans, you need to know about the various advantages and disadvantages before you decide.
- The application process is simple, easy, and fast.
- Access to decent loan amount
- There is no credit check involved
- Scope to deal with lenders directly
- Loans available even with bad credit
- Higher chances of getting loan approval
- Higher rate of interest in certain loan amounts
There are several conditions set to qualify for tribal loans. Borrowers must fulfil the following:
- Must be 18 years or more
- Must have a working and valid email address
- The application should have a cell phone connection
- Applicant must hold an active bank account in USA
The application process of Viva Payday Loans is quite simple and easy to understand. There are four steps involved in the process.
Step 1. Calculate the amount of loan you need based on your requirements
You need to decide on the amount you wish to borrow. You need to have a total plan for the amount you need which will help in relieving the stress. If one requests more than what is needed, it puts a strain on finances.
Step 3. Fill the online form
Viva Payday Loans website provides a form that takes just a few minutes to fill. The form contains details like name, address, email id and other information necessary. The form has important information related to fees and repayment schedule which the applicant must read carefully before filling.
Step 3. Approval of loan
As loans and approvals are submitted, buyers are connected to appropriate lenders who can provide loan services. The applicant may be subjected to certain third-party credit checking by lenders. Though, loans are available even with bad credit, they do involve some necessary scrutiny.
Step 4. Receive the loan
Once the evaluation is completed and the checks done, the borrower is informed about the loan acceptance. The loan amount is sent to the account of the borrower. The amount is credited between 1-5 days of application.
How do I apply for a Tribal Installment Loan?
To apply for such a loan the borrower needs to find a lender. The lenderâs website will provide an application form that can be filled with the amount of loan and time. Once this gets approved, the money gets credited to the bank account.
Do Tribal Loans Check Credit?
Those who do not wish to have their credit checked, can apply for a small amount of loan. There are many lenders who offer installment loans without any credit check.
Are tribal loans legal?
In the recent time the government has provided a framework for regulation of tribal lenders business. Several of their token practices are technically illegal though loans are not.
What will Happen if I do not Pay Back my Tribal Loan?
If you do not pay back your loan, the lender can sue you. This can occur if the borrower breaches the loan contract and is behind the repayments schedule, you may be charged a late fee.
Are tribal loans legal?
If you do not pay back your loan, the lender can sue you. This can occur if the borrower breaches the loan contract and is behind the repayments schedule.