Urgent Notice: Don’t Apply for a Loan Until You Read This
Our Review of Great Plains Lending

You’ve likely heard of Great Plains Lending, a tribal lender that offers consumers quick short term loans and installment loans for bad credit. Here’s the real question: is Great Plains a legit lender who helps consumers in need? Or an online loan shark that preys on people’s misfortune?
Summary
Great Plains Lending offers installment loans to consumers with bad credit. Compared to other tribal lenders, their interest rates are actually fairly reasonable. You can expect to pay interest rates between 118.66% 448.76% APR. While still considerably high, they offer rates much lower than other tribal loan providers. You can borrow as little as $100 up to a maximum of $3,000. Note: we never recommend borrowing as much as $3,000 for a short term installment loan. You should only borrow what you need and pay back as quickly as possible.
PROS
– Provides tribal installment loans with reasonable interest rates of 118.66% 448.76% APR, which is lower than your average tribal lender
– Application process is simple and fast
– Typically funds borrowers bank account within 24 business hours
– Good option for bad credit borrowers that can’t obtain traditional financing
CONS
– Although the APR is reasonable compared to other tribal lenders, it’s still an expensive form of financing
– Not a good option for people with average to excellent credit
Who is Great Plains Lending?
This Great Plains Lending review will answer the following questions:
- Is Great Plains Lending legit or a scam?
- What is the minimum and maximum loan amount?
- What is the average APR?
- What are the payment terms?
When you access the website, you’ll see that the information is presented very clearly. The website makes it easy to find what you’re looking for. Founded in 2011, Great Plains Lending was one of the first tribal lenders to launch installment loan programs in a tribal nation within the U.S. Their mission: provide bad credit loans to subprime borrowers. Great Plains Lending does not offer payday loans. Instead, they offer installment loans that can be repaid over time. That said, the lender has been involved in a range of litigation over the years, involving high interest rate fees. We’ll get into more detail here shortly.
Related
How Much Does it Cost?
APR stands for annual percentage rate and is a fee charged by a lender when you borrow money. The higher the APR, the more you will pay for the loan. The APR on installment loans range from 118.APR to 448.76%. Compared to the industry average of tribal lenders, this range is not too horrible (although still very high).
How is APR calculated? With Great Plains Lending, your APR is calculated by analyzing a few key factors.
- Employment history
- Credit score
- Whether you rent or own your home
- Your risk factor
Your credit score will only be used to assess your risk factor, not eligibility for the loan itself. No matter what your credit score might be, you’ll still likely be approved but have to pay the max APR. To receive the lowest APR, check your credit history for potential errors before you apply for a loan. This will maximize your chances of fair loan terms with the lowest rates. If you notice mistakes, you should correct credit report errors and then apply for financing.
This simple tip will save you a lot of money in the long run. There is a common complaint among borrowers: the APR is excessively high. That said, consumers should take into consideration that bad credit lenders are taking on massive risk. This is why lenders offering bad credit loans charge such high interest rates. The problem, in our opinion, is consumers are not educated. That’s not to say it’s consumers faults. Lenders should be more transparent and also educate consumers in the very beginning.
How Much Can I Borrow?
Great Plains Lending cannot help you with large, long-term financing needs. Their platform supports individuals that need short-term, small emergency loans only. Do not apply for a loan with the intent of financing a home, using it for a bad credit car loan or paying for education needs. Also, it is very important that you only use this loan for very short term financing needs such as:
- Help paying rent
- Help with small medical bills
- Help with an auto repair bill
- Help with groceries
- And other small bills under $500
That said, here’s the minimum and maximum loan amounts:
Minimum
- $100
Maximum
- $3,000
The key to having the best loan experience is this:
- Try not to borrow more than you need
- Keep the loan amount small
- Fully understand the loan terms and conditions
- Pay the loan back as soon as you can
What Are the Loan Terms?
Does Great Plains Lending charge an origination fee or other upfront costs? Good news: they don’t charge any upfront fees. They may, however, charge an origination fee. An origination fee is what lenders charge to cover things like the underwriting, the processing and the funding of loans. Origination fees range from 0.5 percent to 5 percent of the total loan amount. While it’s best to choose a lender that doesn’t charge this fee, it can be rare to find one.
Does Great Plains Lending charge any other additional fees, aside from interest? The only additional fee we are aware of are late fees. This is completely normal, as most lenders charge a late fee if you don’t pay the loan on time. Does Great Plains Lending charge pre-payment fees? Prepayment fees are when borrowers want to pay off the loan early or apply more payment to their loan total to pay the loan off faster. Lenders that charge pre-payment fees penalize borrowers for doing this. The good news is Great Plains Lending doesn’t charge pre-payment fees.
How Do I Qualify for a Loan?
It’s not difficult at all to apply and be approved for a Great Plains Lending loan. Since this lender does not go by your credit score, they simply need to know you have the ability to repay your loan. If you don’t have consistent employment, you might run into issues being approved. Aside from that, you only need to meet the requirements below:
Here’s how to qualify for a loan:
- Must be a U.S. citizen
- Must be 18+ years of age
- State issued driver’s license
- Valid checking account
- Verifiable employment
2021 Update: Great Plains Lending is no longer in business. If you need a bad credit loan, read our review on Big Picture Loans.
The Bottom Line on Great Plains Lending
As of March 2019, Great Plains Lending is no longer in business. This decision came from a lawsuit filed by the State of New York that claimed the lender was offering usury loans to consumers in the state. If you need a bad credit loan for emergency expenses, you can read our review on Big Picture Loans above or compare rates from other tribal lenders here.
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