Update: Here’s What Every Borrower Should Know
Our Review of Blue River Lending
– Good for emergency expenses
– Good if you have bad credit
– Funds loans within 24 business hours
– Very expensive form of borrowing. Up to 747% APR
– Not a good option for long term expenses
– You can easily dig yourself into a debt trap
Overview of Blue River Lending
Thanks for visiting our site and checking out our Blue River Lending reviews. Starting on the home page you will find a very well laid out and professional presentation, having everything you need to get started right on one page. At the top you have the link you’ll need for additional information and logging into your account. From there, you can begin the application process by using the widget on the homepage.
Scrolling down the page you will see typical information on how the application process is fast and you can receive your money quickly. Each of the bullet points lead you to a page so if you want additional information you can follow the path. The only thing left is the contact information at the bottom of the page. In the footer of the website there is fine print information, some of which is important to review before applying.
Blue River Lending does not lend to residents of:
- Washington DC
- New York
- West Virginia
- Must have direct deposits from your employer.
- Valid/Non-expired government issued ID.
- Open and active checking account.
- Current banking statement.
- Must not be active duty in any branch of the military or a dependent of someone in the military.
- Must be at least 18 years of age.
- Must have a valid address and contact phone number.
Loan Rates and Terms
Blue River Lending offers you a short-term installment loan, which is beneficial for you because you can repay the loan over a period of time. Another detail in the footer of the website is a statement that states, “This is an expensive form of borrowing and it is not intended to be a long-term financial solution”. That means this product should be used in emergencies or for extremely short-term financial needs.
If you are a new borrower, you can apply for a loan as little as $100, all the way up to $1,000. This is considered a short term bad credit installment loan. As far as interest rates are concerned, you may have to pay as much as 747.96%, which is a high amount compared to traditional loans but is competitive in the tribal lender market. An efficient way for you to avoid interest expenses is to repay the loan back as quickly as possible.
Apply for a Blue River Lending Loan
As with any native american loan, the goal is to get you funds as quickly as possible. And according to several Blue River Lending reviews, it’s very fast. That means the application process shouldn’t take more than a few minutes, as long as you have your loan information ready. To start, you will input your basic personal information such as name, social security number, email and drivers license number.
In the next section, you will input the banking information of the account you wish to transact with. The final section will pertain to your income and employment information. While there doesn’t appears to be a specific income amount you must meet, most tribal lenders have a dollar amount of $1,000 a month.
The final sections will require you to answer military questions, add references and how much you wish to borrow. Once that’s completed, you are all set to submit your application for approval. During the application process, they do request a good time to call you, which indicates you likely will need to verify some information.
The Bottom Line
Once your application has been approved, you will likely receive funding on the next business day, according to positive Blue River Lending reviews. However, if you want same day funding you can speak with a Blue River Lending representative, but this may cost you additional money. After you receive your proceeds you can begin applying the money as you see fit. As for repayment options there are two ways to do that, with the first being a repayment based on your schedule. The second method is to repay your loan as early as possible and this will save you money on interest expense.
Overall, Blue River Lending appears to be solid company that can provide you what you need with a competitive rate in the current market. Head on over to their website and take a look for yourself. Be sure to compare rates with others in the marketplace and find the best one possible, along with solid product offerings and customer service.