About Lender
Evergreen Services is an online lending platform that provides installment loans to individuals who need quick access to cash. The platform is operated by the Lac Du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized Indian tribe.
Evergreen Services offers personal loans ranging from $250 to $2,000. The application process is quick and easy, and applicants can receive funds as soon as the next business day if approved.
It is important to note that the loans offered by Evergreen Services may have higher interest rates and fees compared to traditional banks and credit unions. Borrowers must carefully review the terms and conditions of the loan before accepting and ensure that they can repay the loan on time.
Evergreen Services also emphasizes responsible borrowing and encourages borrowers to only take out loans that they can afford to repay.
Key Features
Here are some unique features of Evergreen Services:
- Tribal lending entity. Evergreen Services is a tribal lending entity owned and operated by the Lac Du Flambeau Band of Lake Superior Chippewa Indians. As a tribal lender, Evergreen Services follows only tribal legislation.
- Payment schedules. Evergreen Services offers payment terms from 7 to 20 days.
- Loan amounts. You can receive loans from $250 to $2,000. First-time borrowers can get up to $600.
- Fees. The company has high fees. For each $100 borrowed, you must pay from $15 to $30. Therefore, the annual percentage rates range from 273% to 1,564%.
- Responsible borrowing. Evergreen Services emphasizes responsible borrowing and encourages borrowers to only take out loans that they can afford to repay.
- Availability. The company doesn't offer loans to Arkansas, Colorado, Connecticut, the District of Columbia (D.C.), Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, Montana, New Jersey, New Hampshire, New York, New Mexico, North Carolina, Oregon, Pennsylvania, Wisconsin, Vermont, Virginia, Washington, and West Virginia residents.
Pros and Cons
Pros
- Quick and easy application process. The online application process for Evergreen Services is straightforward and can be completed quickly.
- Fast funding. If approved, borrowers can receive their funds as soon as the next business day.
- Flexible repayment terms. Evergreen Services offers a range of repayment terms. It allows borrowers to choose a term that works best for their budget.
Cons
- Higher interest rates and fees. The loans offered by Evergreen Services may have higher interest rates and fees compared to traditional banks and credit unions, which can make them more expensive in the long run.
- Limited loan amounts. Evergreen Services offers loans ranging from $250 to $2,000, which may not be enough for some borrowers who need larger loan amounts.
- Tribal jurisdiction. As a tribal lending entity, Evergreen Services is governed by tribal law, which may be different from state law. This could potentially impact a borrower's legal rights and protections.
- Not available in all states. Evergreen Services is not available in all states, so borrowers should check their eligibility before applying.
Products
Evergreen Services offers installment loans to individuals who need quick access to cash. The loans range from $250 to $2,000 and have repayment terms ranging from a few days to a year.
There is a fee ranging from $15 to $30 for each $100 you borrow.
For example, if you take $250 for 7 days, your total due will be $325. This way, your APR will be 1,564.29%.
The application process is completed online, and if approved, funds can be received the next business day. Evergreen Services emphasizes responsible borrowing and encourages borrowers to only take out loans that they can afford to repay.
Reliability
Here are some factors that you may want to consider when evaluating the reliability of Evergreen Services:
- Regulation. Evergreen Services is a tribal lending entity owned and operated by the Lac Du Flambeau Band of Lake Superior Chippewa Indians, a federally recognized Indian tribe. As a tribal lender, it may be subject to regulation by tribal authorities.
- Transparency. Evergreen Services provides clear information on its website about its loan products, fees, and repayment terms. Borrowers can also contact the company directly if they have questions or concerns.
- Customer reviews. Evergreen Services has 1.15 stars out of 5 on Better Business Bureau. In the past 3 years, there have been 45 complaints. Most complaints are about the high interest rate.
- Online security. Evergreen Services uses industry-standard security measures to protect the personal and financial information of its borrowers.
Ultimately, it is up to individual borrowers to decide whether Evergreen Services is a reliable option for their borrowing needs. Carefully review the terms of the loan, and ensure that you are comfortable with the interest rates and fees before accepting the loan.
Funding a Loan
If you have been approved for a loan from Evergreen Services, the funds will typically be deposited into your bank account the next business day.
Here are the general steps involved in funding a loan with Evergreen Services:
- Application. First, you will need to complete the online application on the Evergreen Services website. This will involve providing personal and financial information, including your income, employment status, and bank account information.
- Loan approval. Evergreen Services will review your application and determine whether you qualify for a loan. You can have any credit score, but the loan acceptance will be determined by the borrower's income. If approved, you will receive a loan offer that will include the loan amount, interest rate, and repayment terms.
- Acceptance. If you accept the loan offer, you will need to sign a loan agreement electronically. This agreement will determine the terms and conditions of the loan, including the repayment schedule and any fees or penalties that may apply.
- Funding. Once you have accepted the loan agreement, the funds will be deposited into your bank account. Approval is based on your information verification by a Loan Specialist. The application information must be received, verified, and approved by a Loan Specialist by 4 pm PST to receive your money the next business day.
The funding process may vary depending on your individual circumstances and the specific terms of your loan. Additionally, Evergreen Services may have specific requirements or restrictions for loan funding. Be sure to carefully review the loan agreement and contact Evergreen Services directly if you have any questions or concerns.
Evergreen Services vs. OppLoans
Both Evergreen Services and OppLoans are online lenders that offer personal loans to consumers. Here are some factors that you may consider while comparing the two:
- Interest rates. The interest rates with Evergreen Services go over 300%. For every $100 you borrow, the company charges fees from $15 to $30. OppLoans has interest rates offers 59% to 160%.
- Repayment terms. You can get a loan from Evergreen Services with repayment terms ranging from a few days to a year. OppLoans repayment terms range from 6 months to 3 years.
- Loan amounts. Evergreen Services has loan amounts from $250 to $2,000. OppLoans offers loans ranging from $500 to $4,000.
- Reliability. OppLoans has an A+ rating with BBB, and the customer reviews give the company 4.55 stars out of 5. Evergreen Services has a B rating with Better Business Bureau and 1.15 stars out of 5.
Ultimately, the best lender for you will depend on your individual financial situation and needs. OppLoans appears to be a legitimate lender with higher loan amounts and lower interest rates.
Evergreen Services vs. Ace Cash Express
Evergreen Services and ACE Cash Express are both online lenders that offer personal loans to consumers. However, there are differences between the two that you may want to consider when comparing them:
- Interest rates. The interest rates with Evergreen Services go over 300%. For every $100 you borrow, the company charges fees from $15 to $30. Ace Cash Express has interest rates offers 91.52% to 630.13%.
- Repayment terms. You can get a loan from Evergreen Services with repayment terms ranging from a few days to a year. Ace Cash Express repayment terms of up to 3 months.
- Loan amounts. Evergreen Services has loan amounts from $250 to $2,000. Ace Cash Express offers loans ranging from $100 to $2,000.
- Reliability. Ace Cash Express doesn't have a rating with BBB, and the customer reviews give the company 1.6 stars out of 5. Evergreen Services has a B rating with Better Business Bureau and 1.15 stars out of 5.
Ultimately, the best lender for you will depend on your individual financial situation and needs. Both companies offer expensive short-term loans. You should apply for these options only if you cannot get a loan from traditional lenders.
Evergreen Services vs. Lendumo
Both Evergreen Services and Lendumo are online lenders that offer short-term installment loans to borrowers. Here are some differences between the two:
- Loan amounts. Evergreen Services offers loans with credit limit ranging from $250 to $2,000, while Lendumo offers loans ranging from $100 to $2,500.
- Loan terms. Evergreen Services offers loan terms of up to a year, while Lendumo offers loan terms ranging from 6 months to 24 months.
- Interest rates. The interest rates offered by Evergreen Services range from $15 to $30 for every $100 borrowed. Lendumo's interest rates range from 35.99% to 399%.
- Fees. Evergreen Services charges a loan origination fee of $15. Lendumo does not charge any origination fee but may charge late payment fees and insufficient fund fees.
- Credit requirements. Both Evergreen Services and Lendumo cater to borrowers with poor credit and do not require a minimum credit score for approval.
Carefully consider the loan terms, interest rates, and fees offered by both lenders, as well as their reputation and customer reviews, before deciding on a loan provider. Ensure that you can comfortably afford the loan payments before taking on any debt.
