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Tribal loans are short-term, high-interest loans offered by lenders operating under Native American tribal jurisdictions. These loans are often appealing to individuals with poor or no credit, as they typically do not require credit checks and have minimal application requirements. Borrowers can often receive funds the same day they apply, making them useful for emergency expenses. Common loan types include payday loans, installment loans, and personal loans, with flexible repayment options. However, these loans can come with very high interest rates, and because tribal lenders are not always subject to state regulations, borrowers should carefully review terms and understand the potential financial risks involved before proceeding.
Learn more: https://finance.yahoo.com/news/direct-lender-tribal-loans-no-130400813.html