Lakeshore Loans: Review and Comparison

Is Lakeshore Loans a legit lender or a scam? We investigate...

lakeshore loans reviews online
lakeshore loans

Name: Lakeshore Loans

Description: Lakeshore Loans a tribal lender that offers bad credit online installment loans to borrowers with less than perfect credit.

2.6 of 5 stars 1 review
  • Customer Support
  • Cost of Loan
  • Funding Time
  • Application Process

Review Summary of Lakeshore Loans

Lakeshore Loans a tribal lender that lends fast cash to borrowers in emergency financial situations. Lakeshore Loans gives bad credit installment loans to qualified applicants. You can borrow a minimum of $100 up to a maximum of $600. We were not able to find typical interest rates charged by this lender. That said, it appears this lender is not 100% transparent about fees (or tries to hide their fees in paperwork).

User Review
3.13 (23 votes)
Comments Rating 0 (0 reviews)


  • Useful for bad credit borrowers who have no place else to turn
  • Offers access to fast cash, typically within 24 business hours if approved


  • Lender hides interest rates; this is a red flag
  • Not a good option for long term financial needs
  • This type of loan could dig you deeper into debt

Beware: What You Should Know About Lakeshore Loans

Personal loans have received a large boost thanks to the evolution of financial technology. It has allowed people to consolidate debt or have an outlet in the event of an emergency. There are many different loan types but a sector that is growing in popularity is the tribal loan space. Many tribal lenders offer installment loans, making is a bit simpler to repay our loan.

That being said, it can be difficult to narrow your search as there are seemingly endless choices. In this article, we are going to take a look at Lakeshore Loans and see a little of what the offer, providing you with information to make an informed decision on their product offerings.

Note:  Lakeshore Loans does not list interest rates on their website.  Online loan sharks are notorious for not listing interest rates.

Overview of Lakeshore Loans

As with any business, having a professional and welcoming landing page is important. Heading over to Lakeshore Loans you will see a very professional and well laid out landing page. You can quickly begin the application process, or you can navigate the links at the top of the page.

Scrolling down the page, you will see business hours and links to questions as to how the process works and other frequently asked questions. Continuing, you are shown the application process is simple and straightforward, the processing of your application is quick, and you can even get cash in your account today as long as you meet certain cutoff times.

Moving to the bottom of the page you will notice other fine print information, of which are the states where Lakeshore Loans currently does not do business. Those states are:

  • Arkansas
  • Arizona
  • Colorado
  • Connecticut
  • District of Columbia
  • Georgia
  • Kansas
  • Massachusetts
  • Maryland
  • Minnesota
  • New Jersey
  • New York
  • Oregon
  • Pennsylvania
  • South Dakota
  • Virginia
  • Vermont
  • Washington
  • West Virginia
  • Wisconsin

Also, in order to apply you need the following:

  • A job or proven source of income via direct deposit.
  • An active and valid checking account.
  • A working phone number and email address.

Lakeshore Loan Rates and Terms: How Much Does it Cost?

Moving on to the product, Lakeshore Loans offers installment loans that can be rapid over time or you can choose to repay the loan early without penalty. For an example of how the loan repayment would work you can visit the rates page on their website. You can borrow up to $600 if it’s your first time, however the annual percentage rate is unavailable and likely varies greatly person to person.

Lakeshore Loans Application Process

If you are new to the loan application process, Lakeshore loans has a link titled “How It Works”, and you can see at a high level of what you can expect. The application process shouldn’t take more than a few minutes as long as you have all your information ready and you meet the requirements.

The application process starts with your personal information, including your name, address, driver’s license and social security number. From there you will input your contact information, which is your phone number and email address. Moving to the next section you will input your living situation and if you rent or pay a mortgage. Lastly, you will input how much you are wanting to borrow, along with your current employment information and the banking information you wish to use in the funding and repayment process.

Once you’ve completed your application you will send it for review, which should be done within a few minutes.

The Bottom Line on Lakeshore Loans

After you submit your application you may need to verify a few bits of information and then you can proceed with receiving your funds. If your loan is approved and completed by 6pm ET, your funds will be available next day in the account you put on the application.

Now that you have your money, you can do with it as you please. When it comes to repayment however, as previously mentioned you can choose two schools of thought. The first is to repay the loan following the schedule provided to you, or you can pay the loan off early and save money on interest expenses. Also, by paying off your loan quickly it will look better to the lender in the event you need another loan.

Ensure you make your payments on time because if you are more than 3 days late, you are charged $30 per late scheduled payment.

The last item you may need to reference is the frequently asked questions page, but Lakeshore Loans has a lackluster FAQ page, only answering six questions. There are other competitors out there that offer a more comprehensive page. While it’s not the end of the world, it may mean you’ll need to reach out to find the answers to any additional questions.

Overall, Lakeshore Loans appears to be a solid platform and offers exactly what you should want from a tribal lender. However, ensure you read your loan documents should you move forward as this will have the interest rate and repayment information. Head on over to their website and take a look for yourself.