This tribal lender is an alternative to payday loans, offering online installment loans with fast turnaround times. You pay over a fixed repayment schedule, rather than in one lump sum.
Blue Trust Loans is a tribal lender that offers installment loans of up to $2,000 as an alternative to payday loans. Instead of paying the loan back in full with your next payroll check, Blue Trust Loans allows you to pay it back in installments over a six-month period.
Why should I consider getting a Blue Trust Loans installment loan?
- No prepayment penalties. Blue Trust Loans won’t charge any fees if you decide to pay off your loan balance earlier than the due date.
- Quick approval. After you apply, you could know about your approval status within a few minutes.
- Fast turnaround. If your application is approved, you could have up to $2,000 deposited into your bank account as soon as the next business day.
- Fixed payments. Except for the first and last payments, your payment amount isthe same throughout the life of the loan. Your schedule is created based on the interest rate, principal balance and number of payments.
More features to consider
- Accredited lender. Blue Trust Loans is a member of both the Online Lenders Alliance and the Native American Financial Services Association.
- Payment schedule. Your payment schedule is based on your income schedule, with typical terms lasting six months. This means if you get paid weekly, you will have 24 loan payments. If you’re paid biweekly, you will have 12 payments. And if you’re paid monthly, your loan will have six payments.
- Loan amount. You can choose to borrow from $100 to $2,000. The maximum loan amount may be lower for first-time borrowers.
- Club Blue membership. The Club Blue system allows people who have repaid previous loans to progressively borrow more money at lower rates for longer periods. Because of this tiered program, you won’t have access to $2,000 loans until you’ve borrowed multiple times.
- Sovereign entity. Blue Trust Loans is solely owned and operated by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. It is a tribal lender, and the funds generated through loans help support government projects.
- Not available in AR, CT, GA, MA, MN, NY, PA, VA, VT, WA, WI or WV.
- Age 18 years or older
- Have a fair credit rating
- Have regular income
- US citizen or permanent resident
- Have a valid bank account
- Bank account
- Credit or Debit card
Blue Trust Loans on the site