Plain Green Loans Review: An In-Depth Look at Their Services

What is Plain Green Loans?

Plain Green Loans is an online lender that provides unsecured installment loans. They operate as a tribal lending entity, wholly owned by the Chippewa Cree Tribe of the Rocky Boy’s Indian Reservation in Montana. Because they are a tribal lender, Plain Green Loans operates under tribal laws rather than state lending laws. This can affect things like interest rates, repayment rules, and borrower protections.

This is important to understand because tribal lenders are not always required to follow the same laws as lenders licensed in your state. That means the rules that usually protect borrowers from high rates or aggressive collections might not apply in the same way with Plain Green Loans.

What Types of Loans Do They Offer?

Plain Green Loans offers installment loans, which are loans you pay back in small amounts over time instead of all at once. Here are the basic loan features:

• Loan Amounts: First-time borrowers can get up to $1,000. Returning customers, especially those in their VIP Rewards Program, can borrow up to $4,500.
• Repayment Terms: Loan terms typically range from 6 to 24 months.
• APR (Annual Percentage Rate): The APR ranges from 199% to 699%. These are much higher than traditional personal loans, which usually have APRs between 6% and 36%.
• Fees: There are no origination fees, but there may be fees for late payments or insufficient funds.

How the Application Process Works

The process for applying with Plain Green Loans is simple and fully online:

1. Online Application: Fill out a form with your personal and financial information.
2. Loan Approval: If you’re approved, you will receive a loan offer.
3. Accept and Fund: Once you accept the offer, funds are typically deposited into your checking account within one business day. If you finish the loan process before 11:30 AM (Mountain Time), you might even get the money the same day.

They also offer direct-to-debit card funding for returning customers, which is faster than traditional bank deposits.

VIP Rewards Program

Plain Green Loans has a program called “VIP Rewards” that benefits loyal customers. Here’s what you can expect:

• Higher Loan Limits: Returning borrowers may qualify for up to $4,500.
• Faster Funding: Some members qualify for instant funding through debit card deposits.
• Better Terms: Some may receive lower APRs and more flexible payment plans.

This is one of the ways the company encourages customer retention. However, borrowers should remember that even VIP terms may still involve high-interest rates.

A Closer Look at APR and Costs

Interest rate is one of the most important things to understand. With Plain Green Loans, the APR can be extremely high. Let me show you what this means in real dollars.

Example Loan Breakdown

Loan Amount	Term	APR	Monthly Payment	Total Paid
$1,000	12 months	299%	$189.15	$2,269.80
$1,500	18 months	399%	$223.40	$4,021.20
$2,000	24 months	699%	$403.30	$9,679.20

As you can see, a loan for $2,000 can end up costing more than four times the original amount borrowed. These high costs make it very important to plan and make sure you can keep up with the payments.

Comparing Plain Green Loans to Traditional Lenders

Let’s take a quick look at how Plain Green Loans compares to other types of lenders:

Lender Type	APR Range	Repayment Terms	Credit Check?	Speed of Funding
Plain Green Loans	199% – 699%	6 – 24 months	No hard check	Same/Next Day
Traditional Bank	6% – 36%	12 – 60 months	Yes	1 – 3 days
Credit Union	6% – 28%	12 – 60 months	Yes	1 – 3 days
Payday Lender	300% – 700%	By next paycheck	Sometimes	Same day

Real Customer Stories

While Plain Green Loans does offer some good features like fast funding and flexible terms, customer experiences are mixed.

• Positive Reviews: Many borrowers say they appreciate how fast and easy the application is. They also like that you don’t need perfect credit to qualify.

Legal Aspects of Tribal Lending

Because Plain Green Loans is owned by a Native American tribe, they are not bound by state laws in the same way other lenders are. This means they can offer higher interest rates and may not follow the same consumer protection laws.

Some states have tried to sue tribal lenders, but the results have been mixed. Before borrowing, it’s important to check whether your state has any laws that affect loans from tribal lenders.

Should You Borrow from Plain Green Loans?

The answer depends on your situation. Plain Green Loans might be helpful if you need money fast and have few other options. They don’t do hard credit checks, which is good for people with bad credit.

But the high-interest rates mean these loans are expensive. Make sure to read all the terms and calculate the total cost of the loan before you sign.

If you only need a small amount of money and can pay it back quickly, a Plain Green Loan might work. If you’re looking for a more affordable option, consider credit unions, personal loans from banks, or peer-to-peer lending platforms.

Tips Before Borrowing

Here are some tips I always give to people looking at payday or installment loans:

1. Only borrow what you truly need. Don’t take extra money just because it’s offered.
2. Make sure you can afford the monthly payments. Look at your budget.
3. Compare lenders. Even a slightly lower interest rate can save you a lot.
4. Read the fine print. Understand all fees and penalties.

Final Thoughts from Randy Murrie

As someone who helps people with payday loan alternatives, I believe Plain Green Loans can be helpful in a financial emergency. They offer fast funding, don’t require perfect credit, and allow flexible repayment. That said, the cost of borrowing is very high.

If you choose to use Plain Green Loans, be sure to fully understand what you’re signing up for. Check the total cost of the loan and make sure it fits into your budget. It’s always best to explore all your options first.

A Friendly Alternative: Ready Payday Loans

If you’re looking for a more affordable and flexible option, I invite you to consider Ready Payday Loans. At Ready Payday Loans, we focus on fast, secure loans with transparent terms and competitive rates. We care about helping you get the money you need without getting stuck in a cycle of debt.

We work with a wide network of lenders to match you with the best possible offer. Whether you need a small loan or just want more flexible repayment, we’re here to help. Feel free to visit Ready Payday Loans to learn more.

Thanks for reading my review, and stay financially smart!

— Randy Murrie