Additionally known as Bright Lending and Aaniiih Nakoda Finance, LLC DBA Hays, Montana is home to Bright Lending. It is a tribal lender, which implies that a single American Indian tribe that has received federal recognition owns the entire business. The Fort Belknap Indian Community of the Fort Belknap Reservation in Montana is the tribe in question in this instance. The company, which only recently started operating, provides short-term personal loans with exorbitant interest rates that are nearly twice as high as those of conventional payday loans. In fact, the average interest rate for payday loans is 391%, according to the Federal Reserve Bank of St. Louis.The interest rate offered by Bright Lending to new clients is a staggering 725%! The company reduces the interest rate to 700% if you agree to set up automatic payments, although this is still 309% higher than the average payday loan.
Bright Lending provides $300 to $1,000 modest emergency loans. These loans are a costly way to acquire money because to their triple-digit APRs and quick repayment durations. Compare offers from several personal loan providers before submitting an application for a loan with Bright Lending. Depending on your credit history, you might be eligible for a loan with a reduced interest rate and more palatable payback terms. Here are two choices for you to consider.