They are not a direct lender. They are a company that has access to several payday loan companies and promise to get you the best rates possible. You should only use payday loans as a means to finance short term financing needs, such as car repairs, small medical bills, etc. When you submit your information on their website, they send your information to their network of lenders to find the best rates and terms for your situation. That said, you won’t find a typical interest rate or repayment terms until they match you with a lender.

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Pros

Good option for small, short term financing
Application process is fast and effortless
Has a wide range of lenders they can match you with

Cons

Submits your information to several lenders, which could cause you to be swamped with emails and calls from lenders
Payday loans typically have to be repaid in one lump sum
Doesn’t have customer support

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Depending on your needs, tribal lending will offer you better terms than better known payday lending. Tribal lending is mostly geared towards short-term, unsecured small loan lending. These products are great if you need cash for an emergency or unexpected expense.

Green Stream Lending is not a direct lender, but has access to a network of payday loan companies and claims to get you the best rates. Payday loans are designed to cover small expenses or emergencies.

While these are expensive forms of credit, they are not designed to be long-term financial solutions and you will benefit by paying the loan down early.

This article will be an in-depth review of Green Stream lending to help you determine if they are a reputable tribal lender to work with.

Overview of Green Stream Lending

Right away, you’ll notice the informational landing page that provides you with all the important information. Green Stream states they will lend to nearly anyone, as long as you have a job and a bank account.

There mission is to, “easily get the money you need without even leaving your place. Just simply fill out an online application, sit back and relax, money will be deposited into your bank account in just one business day”.

The about us page states much of what was in the introduction of this article, reassuring the purpose and ideal situations for this type of product. You can also find the contact information located at the top of bottom of the page. Here is where you can submit a message or they have their physical mailing address available and telephone number.

Green Stream Lending also has their privacy policy readily available at the top of the page. You need to review this as it will encompass how your information processes and if you agree with it. Accepting the privacy policy statement is likely a requirement in the application process.

Loan Rates and Terms: How Much Will it Cost?

Only one product is offered and that is the short-term, unsecured installment loan. Loans will range anywhere from $100 up to $800, with an APR between 818.12% up to 1,209.19%. This APR range is considerably high and is equivalent to loan sharks. Funds are typically put into your account within 24-hours, giving you fast money in the event of an emergency.

The interest rates are considerably higher compared to others in the industry. You will need to research on your own if this is a proper fit. Fees are not available because Green Stream Lending states they are based upon qualifying factors of the applicant. However, you can view a sample of how the payments would look using the hypothetical repayment structure.

The Application Process

Next is the application process, which should be easy given many in the industry have simple 5-minute application processes.

The first step in completing your application includes personal information such as name, address, city, phone number, social security number and driver’s license information. From there, you will begin inputting your income information, which is your income type, amount of paycheck, job title and how often you are paid. This is to let the lender know when you will make payments on your note.

Lastly, you will answer a few questions on military status, references and your banking information. There is no information on the application process on how your information will be used, but some tribal lenders do require the information.

Once that is complete, you will submit your application and what for the approval process. Green Stream Lending states it could take a few minutes, but will likely vary depending on your situation.

What Happens After I Submit My Loan Application?

After your application is sent, you will wait to here back on the approval or denial of your loan. However, if you take the time to review your website, you’ll see that is where most of the information ends.

There are no FAQ’s, information pertaining to loan cancellations or early repayment information. Green Stream Lending loses a bit of quality in this respect as you will likely have questions regarding these topics.

For comparison, many tribal lenders allow for and even encourage early repayment of the loan. This is because you will save money on interest expenses and it will look good if you ever need to request a loan again. As for cancellations, you will need to read your loan agreement to see if you are able to cancel your loan. Items you will look for include the right of rescission period, which gives you the ability to cancel your loan even after you’ve been approved.

While we’d love to provide you with more information on Green Stream Lending, we simply are unable to do so. This may be by design, forcing you reach out via telephone to obtain more information. Regardless, in the competitive world of tribal lending this leaves Green Stream Lending at a disadvantage. Many others provide you with more than enough information to make an informed decision without leaving their website.

Overall, the process seems simply and quick. However, the lack of FAQ information or detail past the application process may sway people to shop elsewhere. Take a look at Green Stream Lending and you may find they are a good fit for your lending needs.