About Lender
East Line Lending LLC serves as the economic branch of the Menominee Indian Tribe of Wisconsin, a federally recognized sovereign Indian nation. As such, the company follows federal consumer finance laws and conducts its operations exclusively within the boundaries of the Tribe's reservation. East Line Lending LLC operates under the provisions of Tribal Law, and all loans provided by the company are governed by federal law and the laws of the Tribe rather than the laws of the state where the borrower resides. Nowadays, East Line Lending operates in Keshena, USA. The Better Business Bureau has not accredited accredit this organization.
East Line Lending is an example of a loan company that offers expensive credit options. This company provides short-term loans, so the borrowers cannot use them as long-term credit.
The borrowers of East Line Lending can use loans of up to $10,000 for unforeseen emergencies, such as car repair, travel, or medical care.
East Line Lending offers advance installment loans. Thanks to such a loan, the borrower can get the cash to cover their minor emergencies with no strict repayment terms.
Compared with a traditional payday loan, an advance installment loan, provided by East Line Lending, allows the borrower not to pay everything back with interest in one lump sum payment and additional charges but pay back what they owe with fixed payments.
The borrowers of East Line Lending can be sure that their personal data is safe because the company uses a secure encryption system.
Key Features
Here are some key features of East Line Lending LLC:
- Tribal affiliation: East Line Lending LLC is an economic arm of the Menominee Indian Tribe of Wisconsin, which is a federally recognized sovereign Indian nation. This means that the company operates under Tribal Law, and all loans provided by the company are governed by federal law and the laws of the Tribe rather than the laws of the state where the borrower resides.
- Online lending platform: East Line Lending LLC offers a simple and convenient online lending platform, making it easy for borrowers to apply for loans from anywhere at any time.
- Short-term loans: The company specializes in short-term loans with high-interest rates, with loan terms ranging from one to six months. These loans are typically used for emergency expenses, such as unexpected medical bills or car repairs. In 2022, West Side Lending LLC and East Line Lending LLC have been reported to the Washington State Department of Financial Institutions (DFI) by a consumer from Washington for charging excessive fees and/or interest.
- Fast approval: East Line Lending LLC provides fast loan approval, with most loans approved within 24 hours of application.
- Credit checks: The company does perform credit checks on loan applicants, but they also consider other factors such as income and employment history when determining loan eligibility.
- Responsible lending: East Line Lending LLC is committed to responsible lending practices, and they work to ensure that borrowers understand the terms and conditions of their loans and are able to repay them on time.
- Competitive interest rates: The company offers competitive interest rates on its loans, which can vary based on individual creditworthiness and financial circumstances.
Overall, East Line Lending LLC provides a reliable and efficient lending service for short-term loans, with a focus on responsible lending industry practices and a commitment to customer satisfaction.
Pros and Cons
Pros
- Suitable for unforeseen emergencies. The borrowers can use the loans of East Line Lending to cover unexpected expenses.
- No strict repayment terms for advance installment loans. You can pay back just what you owe with fixed payments.
- Customer support. You can contact the company's customer support team and receive further assistance if you have questions about the loans.
- No prepayment penalties. The borrowers can pay their loans early with no penalties.
- Quick application process. The clients need to spend only a few minutes applying.
- Personal data safety. The company uses a secure encryption system to protect the borrower's personal data.
Cons
- Short-term financial solution. The funding of East Lending can not be used for long-term financial solutions such as personal loans.
- Only available in some states. The list of States where East Line Lending loans are available may change from time to time.
- Different loan amounts for other customers. The loan amount for existing borrowers differs from that for new customers.
Products
East Line Lending LLC offers short-term loans that are typically used to cover unexpected expenses or emergencies. The loans provided by the company are designed to be repaid within a short period, usually ranging from one to six months.
The loan amounts offered by East Line Lending LLC can vary, depending on the borrower's creditworthiness and financial circumstances. Generally, the loan amounts range from a few hundred to a few thousand dollars.
The loan application process is straightforward, and borrowers can apply online from anywhere at any time. The company performs credit checks on loan applicants, but they also consider other factors such as income and employment history when determining loan eligibility.
The interest rates charged by East Line Lending LLC can vary based on individual creditworthiness and financial circumstances. However, the company offers competitive interest rates that are typically lower than those charged by traditional payday lenders.
East Line Lending LLC also offers flexible repayment options, allowing borrowers to make payments over time. This can help borrowers manage their finances and avoid late fees or penalties.
Overall, East Line Lending LLC provides a reliable and convenient short-term lending service for those in need of financial assistance for unexpected expenses or emergencies.
Reliability
When it comes to the reliability of East Line Lending LLC, there are some mixed reviews and ratings to consider.
On one hand, the company has received a C+ rating from the Better Business Bureau (BBB), which suggests that some customer complaints or issues have not been fully resolved. Additionally, the Washington State Department of Financial Institutions (DFI) has received a complaint from a Washington consumer regarding excessive fees and/or the interest rate being charged by West Side Lending LLC and East Line Lending LLC. This suggests that the company may not always operate with complete transparency when it comes to loan fees and interest rates.
On the other hand, East Line Lending LLC has a relatively high rating of 4.1 stars on Trustpilot, with many positive reviews from satisfied customers. This suggests that the company does provide reliable and convenient lending services to many borrowers.
Overall, East Line Lending LLC may have room for improvement regarding transparency and resolving customer complaints. However, the company has many satisfied customers and offers a convenient lending service that can be a helpful resource for those needing short-term financial assistance. As with any lending company, borrowers should carefully review the terms and conditions of their loans and make sure they understand all fees and charges before agreeing to a loan with East Line Lending LLC or any other lender.
Funding a Loan
If East Line Lending approves and processes loan applications by 12:30 pm CST, you will get your funds on the same business day. But if the borrower's application is processed after 12:30 pm CST, then they will get their funds on the next business day.
Sometimes East Line Lending approves and processes borrowers' applications by 1:30 pm CST of any business day. Here, the clients get their money on the same day. But if their applications are approved and processed after 1:30 pm CST, the borrowers will get their funds by the next business day.
The borrower should consider that the bank may charge an additional incoming wire service fee. So, they need to check if their bank will apply for such a fee, that their account is eligible to receive wire transfers, and when their bank will transfer funds.
East Line Lending works from Monday to Friday, 7:00 am to 7:00 pm CST from Monday to Friday.
Loan Conditions
If the customer wants to apply for payday loans provided by East Line Lending, they have to meet some eligibility criteria. Complete and submit an application on the website.
If you are a new customer, East Line lending allows you to qualify for up to $3,000. But if you are an existing borrower of the company and have a good payment history, then you can qualify for up to $10,000. The minimum loan amount for all customers is $200.
After you are approved, the East Line Lending customer team representatives will contact you to get further information and verify some personal information.
The funds are transferred within the next business day after signing the loan agreement. The borrower's initial advance and any subsequent advance can be at most 50% of their maximum approved amount.
The subsequent advances will be available to customers depending on their payment history. If the borrowers' accounts are still in good standing for 60 days, they have a right to request subsequent advances up to 75% of the maximum advance. But if your account is in good standing for 120 days, then you can get up to 100% of the maximum approved amount. For example, if the borrower's maximum advance amount is $1,000, they can apply for advances in the first 60 days of up to $500.
Here are the limits of the advances the borrowers may request:
- From day 1 to 60: 50% of the credit limit;
- From day 61 to 120: 75% of the credit limit;
- From day 121 to 365: 100% of the credit limit.
If the borrower wants to get East Line Lending's loans, their account must be in good standing. The clients who wish to apply for the loans must meet the following eligibility requirements:
- Be of a majority age in their state;
- Be US citizens;
- Be the residents in a servicing state;
- Have an open and active checking account to receive direct deposits;
- Meet minimum income requirements;
- Have a valid phone number and email address.
The borrowing costs usually vary depending on which amount the client borrows and how many payments they make.
The clients should know that sometimes the bank charges additional fees for additional incoming wire services. If the clients no longer need loans provided by East Line Lending, they have 24 hours after funds are deposited into their accounts to reverse their loans. Contact the customer support team to learn more detailed information about this process. Usually, loan repayments occur on the borrower's payroll deposit dates. This process occurs weekly or fortnightly for one year from the Initial Advance or any Subsequent Advance.
The APR (Annual Percentage Rate) of the loans provided by East Line Lending usually varies from 630% to 780%, depending on the borrower's payment schedule, loan term, loan amount, and the frequency of payments. If the borrowers don't pay off their loans, East Line Lending has a right to charge additional fees or collect the payments according to the loan agreement and Tribal and applicable federal law.
The loans offered by East Line Lending are only available in some states. If you are a resident of such states as South Carolina, New Jersey, New York, Pennsylvania, West Virginia, Arkansas, Connecticut, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, Vermont, North Carolina, Virginia, Wisconsin, District of Columbia, the loans aren't available to you. Such availability changes from time to time without prior notice. So, the borrower needs to check if East Line Lending is doing business in their state.
The client's loan agreement will contain information such as loan terms and conditions, Truth in Lending Disclosures, including the APR, Finance Charge, Amount Financed, Total Payments, and Schedule of Payments. If the borrowers want to know if they qualify for East Line Lending loans, they need to contact the support service, the representatives of which can help them learn more information about a variety of payment options for which they may qualify.
Electronic payment is the most common method of payment. It is set on the Payment Schedule in the borrower's loan agreement. There are also some alternative payment arrangements, which are usually detailed in the borrower's loan agreement.
The first payment of the client is due on the following pay date. If it is a weekend or holiday, the payment will be due on either the business day immediately before or immediately following the business date.
The borrower must contact the East Line Lending support team if they can make one of their scheduled payments by 3 business days before their scheduled payment day. Here, the borrowers have a right to change the schedule of payments.
The customers of East Line Lending can pay their loans off early with no penalties. The company calls upon borrowers to pay off their loans as soon as possible to reduce the total cost of finance charges.
