Americans with bad credit spend as much as $7.4 billion on payday loans every year. With an average loan size around $400, that’s a lot of loans and a lot of fees. Since payday loans are fixed loans, you have only one pay period - usually two or four weeks - to pay off your loan, and if you can’t pay it off in time, you are charged a fee to roll it over. So far more than 80,000 people have used Spotloan to get the cash they needed. Today's payday loans are a bad deal for most people with bad credit for two reasons:
Payday loans don't give you the time you need to pay your loan back. After all, if you had $500 to spare in two weeks, would you really need to borrow it today? Probably not.
Loan fees don't reduce your balance. When you make a payment to rollover your loan, it doesn't actually count against the balance you owe which takes you further in debt. Doesn't sound like a good deal does it?
We knew there had to be a better alternative, which is why we created Spotloan.
Spotloans are tailor-made to fit your needs. You pick your loan amount and payment size. And you can decide to make regular scheduled payments or pay the loan off early. Whatever you choose, we’ll work with you to keep you and your loan on track.
Because Spotloan is an installment loan, every regular scheduled payment helps pay down your loan. That means you can kiss those payday loan balloon payments goodbye!
When you use Spotloan instead of a typical online payday loan, you can save up to 50%.
Spotloans are short-term installment loans. You get up to $800 cash today for approved borrowers who have accepted their loan terms before 10 a.m. CTS (that's 11 a.m. EST and 8 a.m. PST). Otherwise, please expect your funds the following business day. You also get the time you need to payoff your loan - up to 10 months - so you're set up for success right from the start. With a Spotloan, you also get:
A better rate on your next loan with us after completing your first loan with Spotloan.
Highly trained Relationship Managers to help you every step of the way
The freedom to pay off your Spotloan at any time with absolutely no prepayment penalty
The flexibility to pause your payments (as long as your account is in good standing)
Over 275,000 people have used Spotloan. Find out for yourself why our customers love Spotloan's short-term loans and keep coming back. Read through over 1,000 Spotloan reviews on Trustpilot -- Like this one from W. Hayes, who calls Spotloan "the most trustworthy, helpful and reliable loan company I have had the pleasure of working with." Give us a try and experience Spotloan's top-rated customer service, offering secure and professional help.
SpotloanSM is a brand owned by BlueChip Financial, a tribally-owned entity organized under and governed by the laws of the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized Indian Tribe. BlueChip is located on and operates within the Tribe’s reservation.
Please note: This is an expensive form of credit and is intended only for short-term financial needs. Spotloans are designed to help you deal with emergencies such as rent, medical bills, car repairs, or expenses related to your job. Spotloans are not intended to solve longer-term credit or other financial needs, and alternative forms of credit may be better for you, including borrowing from a friend or relative; using a credit card cash advance; taking out a personal loan; or using a home equity loan or savings. Contact one of our relationship managers to discuss if a Spotloan is right for you.