A provider of short-term loans that emphasises simplicity, boasting better rates that traditional lenders and greater amounts for returning borrowers.
Plain Green Loans is a company based in Montana that is designed to help consumers meet their short-term borrowing needs. Sudden expenses can be difficult to handle, and Plain Green Loans understands this. On the website, it lists such emergency expenses as auto repairs, medical bills and travel expenses for which people typically seek loans to cover. It also stresses that such loans are not designed to provide solutions to long-term financial needs. The company never charges what it refers to as “hidden fees” that are not disclosed in the terms and conditions. Simply fill in the easy-to-understand application form and then wait for a speedy response. Once approved, loans are typically funded the next business day.
For an initial loan from Plain Green Loans, you are able take out anything between $250 and $1,000. As mentioned about, the company boasts higher maximum amounts than other companies, but this typically applies to returning customers who may be eligible for up to $3,000 if they have repaid an earlier loan on time. As for cost, the APR (Annual Percentage Rate) can range between 299% and 379% depending on the size of the loan, which is much lower than the average APR for a payday loan. Typical loans are to be repaid in 14 days, though once paid off the consumer can easily take out a second loan.
In order to qualify for a short-term loan with Plain Green Loans, one must be at least 18 years old (19 if residing in Alabama or Nebraska) and reside in a state the company serves. You must have a job or other source of income that can be proven, as well as an active checking account for the money to be paid into once you are approved. No matter your credit history, if you check all these boxes you should qualify for an initial loan of up to $1,000. Upon approval, the funds will be deposited in your account as soon as the next business day. That is for applications received before 6 P.M. Applications that are received after 6 P.M are typically processed the next day, meaning you will receive funding the day after.