Bright lending is a tribal lender that started in the Indian community and today it is recognized by America. It is available in different states and you can get benefit from their short-term loans. It has got a lot of fame due to its short-term loans but the interest rate is double the amount which makes it not the perfect choice. But if a person is in financial distress and looking for a quick way then here you go.
The interest rate is around as lower as 700% which is way too much. The company had been struggling for quite some time at the start. But now you can see that they have been growing because financial organizations are a much need people who can provide them with a quick loan.
So, here we are with a bright lending review so you know everything about it.
Is the company licensed?
As the company is based on tribal lending, they are not licensed and they are not even required to do that. As they are working on their tribal lands there is no such requirement for them following the law. They are abiding by their own made laws that they can operate on their lands. However, they have their authorization which they are already approved. If you ever get a chance of checking out the system you will find that they deal with no cheque.
It is more like a flawless system and that is the main reason why the company is such a big hit. They are also members of a big Alliance company and they follow their own made best practices. There are customer hotline numbers and emails on which they can contact for their queries and confusion about the loans.
Loans from bright lending:
There are so many different loans that you can get from bright lending. Usually, they are famous for their small personal loans. You are allowed to use these funds for any of your requirements. You can even do traveling, pay off your loan, credit card bills, and even your tuition fee.
But unlike other loans, you are going to find very high-interest rates here in their loans that are more than the amount you took. Here are their loans:
- Personal loans start from $300 to $1000. The amount can be paid back in 10 months.
- You can go for a pay cycle like the amount will be automatically deducted from your paycheck. Or you can go to pay the amount in full form.
- There are both manual and automatic payment modes.
- They do not require any type of collateral.
- You can even pay late with a small fine of $30.
Bright lending online reputation:
It is always a great idea to check the ratings or the reviews of anything that you are trying to buy or get service from. BBB is one of the best places to start searching for bright lending reviews. They have even got complaints about the company because they are not following their practices and customers are not liking such behavior. A company like this should be professional.
Certain reports are going on and as you know this is the part of taking loans from financial companies. They do not have a very high or good rating at BBB so their business might get very slow.
Pros of loan:
It is very easy to apply and you can get the loan in one or two business days. There are no strict penalties and you can choose the option of automatic and manual payments as well.
Cons of the loan:
There is a $30 late fee and the interest rates are more than the amount you are paying.