NorthCash ReviewsNorthcash is a tribally owned and controlled online lender offering installments loans to customers. With a splendid customer care department, they have been offering loan services to 42 states in the US. The company shows a commitment to transparency in operations and discloses their maximum rates applicable to loans. Since the company is tribal controlled, it is not bound by any state laws. Website: www.northcash.com
Northcash is a tribal-owned and controlled lending company that offers online loans across multiple states in the US. The business has sovereign and legal government immunity and is not bound by any state laws in all states of operation. However, transparency and a dedicated customer service are evident in their operations.
Northcash offers online installments loans to customers across 42 states in the US. The application process is simple and takes a few minutes to complete. The form requires some personal information which will be used in determining your loan amount.
Upon successful submission of the application, you will receive instant notification of the loan status. If the application has been approved, you are required to contact a Northcash representative and verify your details. To make the process smooth and fast, you should have the following items ready before making the call.
- Your drivers’ license or a government issued ID
- Your banking information
- Income information and a good internet connection
The lender will not make credit checks from the three major credit reporting bureaus but will search for consumer reports from other sources. This is a good way of ensuring that credit records are not damaged further.
As a tribally owned lender, the company is open and transparent with their rates and publicly displays them. Also, minimum and maximum APR caps specified in the state laws will have no effect to this lender since they are not bound by the laws. Therefore, the rates are synchronized throughout all the states serviced by this lender.
Should you choose to conduct business with Northcash, bear in mind that they are not eligible to suit in the normal court of law. However, you can seek solutions that are consistent with the tribal laws.
The installments loans offered are available for a period of 3 months to 18 months. On the due date of the loan, you are expected to make timely payments as scheduled and in accordance with the loan agreement. Late fees and insufficient fees are applied to accounts that do not honor the payment
To qualify for a loan, you’ll need to fulfill the following requirements.
- You must be a citizen or a permanent resident of the US
- You should be above 18 years of age by the time of application
- You must have a source of regular income and meet the required minimum monthly income
- You must not be on active duty in the military or be a dependent of a member on active duty. The federal laws seem to make lending to military members very unfavorable for most lenders, and tribal companies are not an exception.
- You should have an active checking account that is ACH accessible. You can easily find out whether the account is accessible by reaching out to the bank.
- You must reside in any of the states where Northcash is offering its services
The loans available range from $100- $1500 but qualification depends on income and consumer reports. However, new customers can borrow from $400-$1000 where applicable. Once you become a repeat customer and build your credit history with the company, it becomes easy to access higher amounts.
NorthCash offers loans that are commonly referred as installments loans or personal loan. they are intended to offer financial assistance to people with an instant need of cash. Although the loan amount is smaller than from other lenders, the process is quick and doesn’t require hard credit checks.
Approved loans are funded as soon as the next business day but applicants who need fast cash have the option of same day funding. By choosing the same day wire transfer, you are agreeing to pay a $12 additional service fee.
Although the loan application can be completed without the need to fax documents, if there is need to make additional verifications, the company may ask you to send them documents through fax.
Loan repayments are made through automatic account debits and through money order or cashier’s check. Automatic payments are done via ACH on after every billing period and it’s a good way of ensuring there won’t be any missed payments. However, it is prudent to make sure your account has sufficient amount to make the scheduled payments. Otherwise, you’ll be charged some fees for insufficient funds and this could also attract several other charges.
The APR will vary depending on your loan amount as well as credit history with Northcash. However, the maximum APR on any loan taken is 795%. The borrowed amounts are intended to be used as a short-term remedy to financial hardships but never as a long-term solution.
There are additional charges applicable to these loans and it will be wise to review the loan agreement before signing.
Wire transfer fee is $12 per transaction for individuals who can’t wait until the next day to receive the money.
The Nonsufficient funds’ fee is $30 and it’s applied every time a payment is not received due to lack of enough funds in your account. Also, a $30 late fee is also applicable.
The loans are processed fast and funds are deposited in your account as soon as the next business day. but for individuals with an immediate need for cash, a wire transfer can be done to have the money on the same day at a fee.
The company doesn’t use credit checks as a means to determine the maximum amount to borrow. However, they will utilize several consumer reports from alternative credit reporting bureaus. The bureaus used do not have an effect on the current credit score. This is quite a bargain for people with bad credit scores given that current scores are cushioned from dropping further.
Because the lender is tribally controlled, the rates, charges, and fees are more transparent than from most lenders. In addition, the lender warns you against misuse of short term loans and commits some space to educate the borrowers.
Northcash operates in all states in the US except Arkansas, California, Georgia, Minnesota, Maryland, Montana, Pennsylvania, New York, Virginia, and West Virginia.
Company does not seem to offer any coupons to their customers.