Our Review of Evergreen Loans and Services
Article Title: How Does Evergreen Loans and Services Stack Up?
Short Description: Evergreen Loans and Services is a tribal lender owned and operated by a Native American business organized under the Laws of the Lac Du Flambeau Band of Lake Superior Chippewa Indians, a Federally Recognized Indian Tribe and Sovereign Nation. This lender offers short term installment loans to borrowers with bad credit. But is a loan from Evergreen worth it? We investigate...
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Summary of Evergreen Loans and Services
Evergreen Loans and Services is a tribal lender that offers bad credit installment loans to borrowers with less than perfect credit. Provided your application is approved, you can borrow a minimum of $250 and a maximum of $1,500. What about interest rates? On the lower side, the interest rates are what you’d expect from a tribal lender — as low as 273% APR. However, it can go much, much higher. Depending on your credit profile, you could pay a maximum interest rates of 782%. If you have terrible credit, you can expect to pay an interest this high.
User Review
( votes)Pros
- Fast access to emergency cash – typically within 24 business hours
- Decent option for people with bad credit
- Allows you to borrow a minimum of $250
Cons
- If you have terrible credit, you could pay interest rates as high as 782% APR
- Not a good option for long term expenses
If you are new to the tribal lending space, then it can be overwhelming with the various options you can choose from. As with any financial product, there are near endless options and finding the right one can be a challenge in itself. While tribal are less popular than mainstream loans, they afford people with less than average credit the ability to obtain a loan. As financial technology has progressed, this process has moved online, and you can obtain a loan in a matter of minutes.
In this article, the goal is to help your search by giving you a review of the tribal lending company Evergreen Services. We’ll go over the high-level overview of their website and information, then we’ll move into the product description, application process and wrap things up with frequently asked questions.
Overview of Evergreen Loans and Services
Heading over to the Evergreen Services website, you will see a professional landing page that gives you all the information you’d expect on one screen. First you can begin the application process right away by population the short little introduction on the home page. If you wish you learn more you can navigate through the links at the top of the page.
As you continue down the homepage, you will see the application process in online and can be completed with confidence that everything is secure. You will gain instant approval once you send your application and you can have money put in your bank account as soon as the next business day.
At the bottom of the page you will see a few other bullet points of information and the fine print to round out the page. Evergreen Services states, “Unlike many other lending companies, we offer flexible payment options that empower our customers to better control their finances”. Also, you will notice that most tribal lenders have a long list of states they will not do business in but Evergreen Services has a rather short list.
Evergreen Loans and Services does not operate in:
- Wisconsin
- Virginia
- West Virginia
- New York
- Arkansas
Also, you must meet the following requirements:
- Must be at least 18 years of age.
- Must have a bank account in your name.
- Must have a working email address and phone number.
- Must be employed for a minimum of 90 days with your current employer.
- Your job must be your primary source of income.
- Must be a U.S. citizen or permanent resident.
- Must not be active military.
Evergreen Loans and Services Loan Rates and Terms
Moving to the product, Evergreen Services offers a short-term loan. While it is not initially an installment loan, you have the option to select a flexible pay down. Without that option, you will treat this loan as payday lender and need to repay your loan in full on your next payday.
The flexible pay down option can be reviewed in detail on the rates page of the website. While on the rates page you can get a sense of the annual percentage rate you may have when borrowing. Evergreen Services has competitive rates when compared to other tribal lenders as it can range between 273.75% up to 782.14%. Be careful when shopping around as there are some tribal lenders that have annual percentage rates that surpass the four-figure mark, which is very much avoidable.
Application Process
The important we’ll move to is the application process. Many tribal lenders offer you a fast and easy application process and Evergreen services is certainly no different. To begin the application process, you can simply click the apply button at the top of any page and you will move to the application form.
You will start the application process by inputting your personal information such as name, address, social security number and driver’s license number. Moving to the next portion of the application process, you will need to input the banking information you wish to use for payments and funding. The last section pertains to your employment and income. When applying for a tribal loan you must meet a certain income level to ensure you have a reasonable ability to repay the loan.
A few other bits of information you’ll need to provide include military information and references. Not all tribal lenders require references and if you have questions you may want to reach out before submitting the final form. After that is completed you are good to send your application for review.
Post Application
After submission you will receive instant approval and if you are approved, you can receive you money as quickly as the next day. The cutoff time according to their website is 6pm EST, which is late in the day compared to others in the market. Once you receive your funds you are free to do with them as you please.
Keep in mind the repayment process should be a quick as possible because not only does it repay the loan faster, but you also save money on interest expense.
Other information to take a look at includes the FAQ page, which is average in answering your questions. It’s certainly longer than some but not as long as others. Also, there is a page to promote responsible borrowing, which many lenders do not provide their customers.
Evergreen Services appears to be a reputable lender but that is for you to decide. You can head on over to their website and give them a look yourself. With a professional appearance and all relevant information easily accessible, it is worth your time.
