• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
GoLoans

GoLoans

  • Personal Loans
    • Signature Loans
    • Debt Consolidation Loans
    • Wedding Loans
    • Home Improvement Loans
    • Signature Loans
    • Medical Loans
      • Dental Loans
  • Business
    • Business Loans
      • High-Risk Business Loans
    • Business Credit
  • Home Loans
    • Home Equity Loans
    • Home Equity Line of Credit
    • Bad Credit Home Loans
    • First Time Home Buyer Loans
  • Bad Credit Loans
    • Tribal Loans
    • Installment Loans
    • Payday Loans
    • Car Title Loans
    • No Credit Check Loans
    • Emergency Loans
    • Same Day Loans
    • Short Term Loans
  • Auto Loans
    • Bad Credit Car Loans
  • Student Loans
    • Private Student Loans
  • Financial Help
    • Free Credit Score
    • Loan Sharks
    • Debt Relief
      • Debt Management Plan
      • Credit Counseling
    • Credit Repair
      • Credit Repair Companies
    • Calculators
      • Car Title Loan Calculator
      • Motorcycle Loan Calculator
    • Credit Monitoring Services
  • Reviews
    • Lenders
      • Bad Credit
        • Tribal Lenders
Home » Lender Reviews » Great Plains Lending Reviews

Great Plains Lending Reviews

April 5, 2019 by Brian Allen

great plains lending reviews

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

You’ve likely heard of Great Plains Lending, a tribal lender that offers consumers quick short term loans and installment loans for bad credit.

The question is:  are they a reputable lender that legitimately helps consumers in need? Or are they an online loan shark that preys on people’s misfortune?

Our Review of Great Plains Lending

Brian Allen

Loan Amount
Funding Time
Customer Support
Cost of Loan
Application Process

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

3

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?

Let’s explore Great Plains Lending in more detail.

RELATED: Here’s the Truth About No Credit Check Loans
Skip Ahead
  • Urgent Notice: Don’t Apply for Great Plains Lending Until You Read This Review
  • What is Great Plains Lending and How Does it Work?
  • How Much Will Great Plains Lending Charge Me?
    • TRENDING: Top Reviews of Bad Credit Lenders
  • How Much Can I Borrow From Great Plains Lending?
  • What Are the Loan Terms of Great Plains Lending?
  • How Do I Qualify for a Great Plains Lending Loan?
  • The Bottom Line on Great Plains Lending

What is Great Plains Lending and How Does it Work?

how does great plains lending work

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 easy installment loans for people with bad credit, who need to pay emergency expenses.

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.

How Much Will Great Plains Lending Charge Me?

cost of great plains lending

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).

RELATED: Bad Credit Loans: How to Get a Loan When You Have Poor Credit

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.

RELATED: Use This Calculator to See How Much a Car Title Loan Cost

TRENDING: Top Reviews of Bad Credit Lenders

How Much Can I Borrow From Great Plains Lending?

how much can i borrow from great plains lending

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
RELATED: BBB Warns Borrowers of Cash Advance Loan Scam

That said, here’s the minimum and maximum loan amounts of Great Plains Lending:

Minimum Loan Amount: $100

Maximum Loan Amount: $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 of Great Plains Lending?

great plains loans 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.

RELATED: Cash Advance Loans: The Pros and Cons of a Fast Cash Loan

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 the loan off 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 Great Plains Lending Loan?

advantages of great plains lending

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:

Trending: Bad Credit Loan Tips to Get Financed

chiroptractic treatment financing

Pay For Chiropractic Care With These 6 Creative Financing Tips

Receiving needed chiropractic care is extremely important. The alignment of the spine can have a major effect on the nervous system. After all, your spinal cord is located under your spine.

Continue Reading >> Pay For Chiropractic Care With These 6 Creative Financing Tips

tax penalties on 401k withdrawal

Should I Use My 401(k) To Pay Off Debt?

25% of people between the ages of 24-35 have taken money out of their 401(k) retirement plan to pay down debt – and taking some money from your retirement savings to pay off your debt may seem like a good idea if you’re not sure how else to get out of debt.

Continue Reading >> Should I Use My 401(k) To Pay Off Debt?

coronavirus disrupts personal loan interest rates

Will COVID-19 Affect Personal Loans and Interest Rates?

Whether you’re looking to get a personal loan due to the spread of the COVID-19 coronavirus, or you’re a financial services professional, you may be wondering how this pandemic has affected personal loans in America.

Continue Reading >> Will COVID-19 Affect Personal Loans and Interest Rates?

personal loans, lenders more cautious 2020

Personal Loans: Lenders Requiring More Data on Loan Applications

For years your credit report data was enough for lenders to judge whether or not you are worthy of a personal loan. Recently, however, lenders have become hungry for what almost all companies want in 2020; more data.

Continue Reading >> Personal Loans: Lenders Requiring More Data on Loan Applications

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

2019 Update:  Great Plains Lending is no longer in business.  If you need a bad credit loan, read our review on Big Picture Loans here.

The Bottom Line on Great Plains Lending

great plains lending reviews

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.

Filed Under: Lender Reviews Tagged With: tribal lender reviews

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.

Primary Sidebar

Trending Now

no credit check loans apply

Here’s the Truth About No Credit Check Loans

pros and cons of car title loans

5 Common Myths About Car Title Loans You Should Know About

car title loans guide

Car Title Loans: Here’s Why You Should Never Use Them (Plus, Better Alternatives)

online loan sharks and moneylenders

What is a Loan Shark, Exactly?

tribal loans and lenders bad credit

Tribal Loans: The Ultimate Guide On Lenders, Rates and Terms

payday loans guide

Payday Loans: The Ultimate Guide on Laws, Rates and Alternative Loan Solutions

6 Reasons a Tribal Loan May Not Be For You

make money online

12 Ways to Earn Money if You Don’t Qualify for a Bad Credit Loan

Loan sharks online (predatory lenders)

Loan Sharks Online: How to Find an Alternative Loan With Bad Credit

sierra financial sued by AG

Sierra Financial Sued Over Predatory Lending Practices in Michigan

Footer

Address

GoLoans
980 N. Federal Hwy
Suite 110,
Boca Raton, Florida 33432
Phone: +1 (561) 962-0091
URL: https://goloans.co/

Advertiser Discoslure

GoLoans is reader-supported. When you buy through links on our site, we may earn an affiliate commission

© 2018–2021 · GoLoans | About | Contact | Terms of Use | Privacy Policy