EDITOR’S RATING
PROS
- Low min. income requirement: $1,000/month
- No origination fees
- No prepayment fees
- Funding within 2 business days
CONS
- Extremely expensive APRs
- Small loan amounts: $500 - $3,000
- Only available in 26 states
- Minimum credit score not disclosed
- $30 returned payment fee
- Subpar reputation
Quick Review: Plain Green loans are extremely expensive short-term loans offered by the Chippewa Cree Tribe, a sovereign nation within the U.S. Their interest rates range from 210% to 428%, and the loans must be paid back within 10 to 26 months. Although they don’t charge fees aside from a returned payment fee, they remain very costly. People with damaged credit who need an emergency loan should instead try less expensive lenders that will accept applicants with bad credit or visit their local credit unions to see if any are willing to work with a low credit score.
The only real draw of Plain Green loans is a swift payout, as they provide funding within two business days. However, there are plenty of other online lenders that offer the same quick approval and funding without the sky-high interest rates. Plus, Plain Green only services 26 states. Some states they don’t do business in include New York, Illinois, Maryland, New Jersey, Ohio and Pennsylvania.
Below, you can see how WalletHub rates Plain Green personal loans in three major categories: Terms, Requirements & Application, and Reviews & Transparency. You can also see our comparison of Plain Green loans to offers from competing lenders.
Plain Green Personal Loan Terms
| |
| APRs | 210% - 428% |
| Loan Amount | $500 - $3,000 |
| Loan Terms | 10 - 26 months |
| Origination Fee | None |
| Prepayment Fee | None |
| Late Fee | None |
| Minimum Credit Score | Not disclosed* |
| Minimum Income | $1,000 / month |
| Loan Purpose | Other |
| Time to Receive Loan Money | 1 - 2 business days |
| Other Requirements |
|
Plain Green Loans Interest Rates & Fees
Category Rating: 1.3/5
Plain Green loans are incredibly expensive, as they are designed to be “emergency” loans for people who have no other options. Plain Green loans’ interest rates range between 210% and 428% according to their online calculator. That’s a huge amount higher than the 6% - 36% range for most personal loan providers.
Plain Green loans don’t have origination fees to process the application or penalty fees for paying the loan off early. They also don’t have a late fee, but will charge a $30 fee for returned payments. Even though Plain Green’s fees are relatively low, they do not make up for the inflated interest rates.
Plain Green doesn’t offer a lot of funding, either. Their loans range from $500 to $3,000, and customers have 10 to 26 months to pay them off. The expensive rates and low amounts lead to Plain Green’s low score in this category.
Plain Green Loan Requirements & Application Info
Category Rating: 2.5/5
Plain Green doesn’t disclose a minimum credit requirement, and third-party sources don’t have score estimates, either. However, Plain Green says they cater to “subprime” customers, meaning people with damaged credit. Plain Green does have a minimum income requirement, which is $1,000 per month. That’s only the 13th percentile of individual income in the U.S., so 87 percent of American adults can meet that requirement.
In order to get a Plain Green loan, you will also have to live in one of the 26 states in which Plain Green does business. On top of that, you must be at least 18 years old and either a U.S. citizen or a permanent resident with a Social Security number. Lastly, you must have a checking account.
You can see your loan’s potential interest rate, number of payments and payment amount online by selecting the loan amount and how often you get paid. This is a simple calculator, not a true pre-qualification process. From there, you can apply online, if you wish. You should receive a decision within one business day and funds within one additional business day if approved.
Plain Green’s lack of pre-qualification is one of the biggest reasons they lose points in this category, along with the fact that they don’t allow people to apply using an ITIN or a passport and don’t accept co-signers.
Plain Green Loans Reviews & Transparency
Category Rating: 2.7/5
Plain Green does not have the greatest reputation. It has a subpar Better Business Bureau rating and has undergone legal battles over whether its interest rates violate state usury laws.
- Better Business Bureau: Plain Green is not BBB accredited and only receives a B rating.
- Consumer Financial Protection Bureau: The CFPB does not have Plain Green listed as a company in their database, but it does have 7 complaints registered that mention “Plain Green.” Most have to do with high interest rates or debt collection practices.
- WalletHub: There is not enough data to assign a user score to Plain Green.
- Transparency: Plain Green is transparent about their high interest rates, and even says on their website that they are an “expensive” lending option. However, they do not disclose information about fees or certain requirements like having an SSN on their website. Representatives provided information about these details over the phone when asked, though.
Overall, Plain Green’s score suffers in this category because of their subpar reputation and mediocre transparency.
Plain Green Loans vs. Popular Competitors
Plain Green |  Avant |  FreedomPlus | |
| Reviews | |||
| APRs | 210% - 428% | 9.95% - 35.99% | 7.99% - 29.99% |
| Loan Amounts | $500 - $3,000 | $2,000 - $35,000 | $7,500 - $40,000 |
| Loan Terms | 10 - 26 months | 24 - 60 months | 24 - 60 months |
| Minimum Credit Score | Not disclosed* | Bad* | Fair* |
| Winner | FreedomPlus | ||
Methodology
In order to provide the most accurate review of Plain Green personal loans, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back.
For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Plain Green personal loan terms do not fluctuate significantly by state, however.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.