Are you unable to pay your medical bills or house rent? If so, don’t worry! Greenline Loans offers a short-term payday loan to everyone with a lower credit score or a poor credit history.
Sounds fishy, right? But this is 100% true. Greenline loans offer loans to everyone who needs fast cash or is in an emergency. But is the Greenline loan legit or not, is it a must-check?
This article will discuss the legitimacy of Greenline loans, considering the fees, terms, pros, cons, eligibility requirements, and application to apply.
So, without wasting time, let’s get going!
What is Greenline Loans?
Greenline Loans is a short-term loan or tribal lender that provides credit without checking credit scores. Yes, you heard it right! This sounds “too good to be true” but it is genuine, not fake at all. The Greenline Loans Company endorsed itself as it understands the frequent need for cash and sometimes emergency cash, such as car repair, medical bills, or other expenses.
Another good feature of this loan is you aren’t required to give them several documents. All you need to fill out the Greenline loan application form and they will send your loan amount within a matter of hours.
Here’s a catch, Greenline charges a very high rate of interest to their borrowers. They also address the issue in their disclaimer.
Greenline Loans: A Quick Sneak-peek!
| Loan Name | Greenline Payday Loan |
| Min Amount | $100 |
| Maximum Amount | $300 |
| Loan Term | Contact Sales Team |
| Loan Security | Unsecured |
| Turnaround Time | Very short, 2-3 business days. |
| APR | Over 500% |
Pros and Cons of Greenline Loans
With the above information, you may be eagerly interested in applying for Greenline loans. But please hold on! They might seem helpful but charge a very high interest rate that no one can afford. Let’s check out some pros and cons to make the right decision.
Pros:
- A few minutes of the application process.
- It is quite easy to fill in the qualification requirements.
- The loan amount is a little $100 to a maximum of $300, so adults can take advantage of this.
- Quick disbursal of the amount even on the same day of the application.
- Available in 35 states.
Cons:
- The cost or rate of interest is extremely higher as compared to other loans or greenline loan alternatives.
- Due to their tribal community, they are breaking state regulations and rules that are in place to protect consumers.
- It is not regulated by the US laws.
Compared to traditional personal loans, Greenline Loans have a far higher likelihood of trapping borrowers in a debt cycle. Similar to payday loans, it is unlikely that someone in need of several hundred dollars will be able to repay that sum plus several additional hundred dollars in a few months.
The best course of action for individuals who do choose to take out one of these loans is to repay it right away. To ensure that the interest doesn’t have much time to accumulate, they should get in touch with Greenline Loans and attempt to settle the account as soon as feasible.
Greenline Loans Eligibility Requirements
It doesn’t matter how much your credit score is and what’s your credit history, you can apply for the Greenline loans if you can complete the following basic requirements:
- You must be employed.
- Your monthly income ranges between $1000 and above.
- Active Bank account
- US Citizenship
- Must be 18 years old
If you meet the above eligibility criteria, then you can apply for the Greenline loans. Check below how to apply for Greenline loans.
Greenline Loans Application- How to Apply?
If you are out of cash and in a serious emergency, and yes of course able to repay the heavy amount then you can apply for the Greenline loans otherwise it is a bad idea.
Unlike other lenders, Greenline loans have a straightforward application. It just asks for simple and some sensitive personal information, such as your name, bank account details, social security number, and income.
Please note, it advertises loans as you can take up to $100- $300. But, you’re only eligible to apply for a $300 loan amount. Once you select the amount, submit your application and Greenline will review the application. If everything is fine, you will get an approval mail where you have to sign the legal loan documents online. Within 3-4 business days, you will see the loan amount in your bank account.
Greenline Loans Repayment Methods
To repay your loan amount, Greenline offers you two repayment methods:
Automatic Online Payments: with this, Greenline withdraws the amount automatically from your bank account that you have provided in your application.
Certified Cheques: If you opt for this option, send a Cheques to the Greenline PO box. Make sure you send it a week before the due date.
Contact Greenline’s customer support for details on rescheduling if you have any problems regarding payments or won’t be able to make one by the deadline.
Additionally, Greenline enables you to cancel your loan before 3 p.m. MT on the business day that follows the loan disbursement, saving you money on finance charges. Go into your Greenline account or contact customer care to cancel.
Greenline Loans Terms and Conditions
Tribal lenders have been less transparent about their loan terms in the past few years. While it used to be standard practice for them to publish a sample loan or a range of interest rates on their websites, an increasing number of them are now choosing to keep such information private until the borrower receives their loan documents.
Fortunately, more information about Greenline Loans can be found by utilizing the Wayback Machine to view the website as it existed a few days ago.
What debtors can anticipate from them is as follows:
- Principal amounts ranging from $100 to $300.
- APR of around 762.33%
- Biweekly repayment plans.
- Repayment durations of a few months or less, are based on the principal amount.
- No upfront costs.
- After five days, there is a 10% late fee on the payment.
- Extra charges for insufficient cash.
Is Greenline Loans Legit?
Yes, Greenline Loans is a legitimate company that is well-known among borrowers. As a participant in the Online Lenders Alliance (OLA), it has access to a collection of best practices designed to inform customers. It also features an industry-standard privacy policy, a safe website, and details on the tribe that owns Greenline.
However, there isn’t a general query option on its customer support number. Additionally, we were unable to reach a representative when we tried to phone. While checking customer reviews on BBB we found that people are highly dissatisfied with the company. Even some called it a Horrible SCAM.
Overall, this company is legit and licensed from Wisconsin, but we can’t say anything about how it can help you in your bad times.
Conclusion
Lastly, we can say that Greenline Loans is a legit company licensed in Wisconsin, so there is no risk of being scammed. But of course, you need to check everything at your end before taking a loan from Greenline. Remember that they are extremely expensive compared to other alternatives. So, be careful while making a final decision. Good Luck!
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FAQs
Q1. What are the best alternatives to Greenline Loans?
Credit unions, paycheck advanced apps, and secured personal loans are the best alternatives to Greenline loans.
Q2. In which locations Greenline Loans are available?
Greenline Loans is actively working in several cities such as Arkansas, Colorado, Montana, Virginia, Washington, Maryland, Georgia, Vermont, and more.
Q3. How do I contact Greenline Loans?
You can contact Greenline via mail- at cs@greenlineloans.com or by phone at 877-596-1337.
