Lend Green ReviewsLendgreen is an American online-based lender services. The company is exclusively owned by LDF Holdings, a subsidiary of Lac du Flambeau Business Development Corporation. It is registered under the Indian-American tribe lending laws and is compliant of the federally recognized regulations of the Indian tribe - the Lac du Flambeau Tribal Financial. The company’s endeavor is to cater for all your personal loan needs through a quick and convenient process. Website: https://www.lendgreen.com
Lendgreen is an online lender providing payday loan services. The entire application process is done online but the head office is based in the Lac de Flambeau, Wisconsin. All loan applications are processed in the head office. Company allows borrowers to access loans between $100 and $1500 within 24 hours after the approval of application.
The business is owned by a Native American financial company, Lac du Flambeau Tribal Financial, and thus its lending operations are regulated by Indian Tribe law and regulations. Approved Lendgreen loans are therefore under the regulation of Tribal laws and relevant federal laws in addition to the terms and conditions agreed with the client.
Lendgreen provides loans to residents of more than 40 states in America. All that one needs to apply is access to internet. Website online application is easy to fill and therefore one can complete it in a matter of minutes. In the application, you will be required to provide the following basic personal information:
- Name, date of birth, contacts information, and Social Security number
- Details about your income
- The amount you want to borrow
- The amount you are comfortable to pay per installments
- How long it could take you to repay
- Your driver’s license details
- Bank account information
Within seconds after the completing the application, you are notified whether you are eligible for a loan and the amount you can borrow. A Lendgreen representative will then contact you and guide you through the rest of the application process. Like many other payday lenders, negative credit score are a non-issue to Lendgreen. If the application process is successful, the amount is deposited in your account within 24 hours. In case of delays, the amount is deposited the next business day.
The terms and conditions of differ depending on the amount borrowed and the amount loaned. The general repayment plan is that the borrower begins to repay during the next payday. The payments are usually deducted automatically from the borrower’s bank accounts. However, other means of payment such as certified checks and money orders are also accepted.
Lendgreen has created an alternative repayment plan called the Multi-Pay Option. The plan stretches the loan repayment period such that you pay the amount in up to 35 payments done bimonthly. While the option increases the loan term, it is much more expensive than the regular repayment method. For instance, under the Multi-Pay option, a $500 loan repaid in 35 bimonthly payments totals up to almost $4,000.
The basic eligibility qualifications include:
- Identification documents that prove you are either a US citizen, a permanent resident or possess a long-term US visa
- Over 18 years of age
- You must not be working for the military
- Spouses and dependents of military employees are also not eligible
- Not a resident of Arkansas, Georgia, Maryland, Minnesota, New York, Pennsylvania, Virginia, West Virginia or Wisconsin
- Either in full-time employment or have a verifiable stream of income providing at least $1,100 per month
- A valid and active bank account that accepts electronic deposits
Lendgreen main specialization is in payday loans and installment loans. The initial loan amount is between $400 and $700. The amount increases in subsequent borrowing periods up to $1500. The amount is determined by your present financial situation. Applicants with bad or no credit scores have a chance of getting a loan with the company.
The payday loan is repaid in one or two repayments on payday(s). However, under the installment loan, you can borrow a substantial amount and repay it in installments of small amounts. The installments are made over a predetermined period. The total loan repayment period ranges between three and 18 months. The details of the repayment plan are negotiated before the loan is approved.
Lendgreen is flexible in terms of repayment options. You can make loan repayments automatically through the direct debit option. However, other means of payment such as checks and money orders are also accepted. You may also make extra amounts any time in order to pay the loan off ahead of the stipulated time. This might, however, attract some extra charges.
The average APR on loans is 795%. The rate might vary slightly depending on the terms of your loan.
Other charges such as penalties or late repayment may increase the owed amount.
In the installment plan, the installment is usually a fixed regular amount. Paying more than the stipulated amount in order to clear the loan early could attract extra charges.
- The online loan application process is free and fast
- You can access the amount soon shortly after the application process is over
- Flexible repayments option making process much easier
- Once your details are in the system, your next loan application process will be much easier
Lendgreen’s has lived up to its target of providing loans fast and efficiently. The customer service is also top notch and works with the client to come up with a suitable plan. The rates are, however, quite high even compared to other payday loan providers. There are also other charges such as penalties due to delayed payment and paying extra amounts to clear the loan early.
As an entity owned by an Indian tribal business, Company strives to comply with both Tribal laws, federal regulations and state laws. The company has complied with all the relevant guidelines. The combination of federal regulations and tribal lending laws, however, slightly complicates the loaning process. As such, it is imperative for the client to understand how all these aspects of operations affect their loan.
Lendgreen loans are not available to residents of Arizona, Arkansas, North Carolina, Connecticut, New York, District of Columbia, Maine, New Hampshire, Maryland, Massachusetts, Minnesota, Pennsylvania, Montana, New Jersey, Colorado, Georgia, Ohio, Oregon, Vermont, West Virginia, and Wisconsin or to members of the military.
The company’ lenders do not have any promotion package at the moment.