Spotloan review: is Spotloan legit?
The Turtle Mountain Band of Chippewa Indians owns Spotloan, so it lends as a tribal lender.
- APR
- 99% to 490%
- Amounts offered
- $300 to $1,500
- States
- 39 states
- Complaints to the CFPB
- 972
- Enforcement actions
- None found
Spotloan on file
- Owner
- The Turtle Mountain Band of Chippewa Indians wholly owns Ningo Lending LLC.
- Issued by
- Spotloan operates as a trade name for Ningo Lending LLC
- Tribe
- Turtle Mountain Band of Chippewa Indians
- Product
- These small installment loans allow repayment periods of up to 10 months
- Repayment length
- 10 months
- Cap on a first loan
- $800
- Credit checks
- They pull information from non-traditional credit reporting agencies like DataX and Clarity.
- Time to get the money
- same business day for loan terms you accept on a weekday before 1:30 p.m. CT; approvals after that are funded the next business day
Taken from what Spotloan publishes, CFPB complaint counts and public enforcement files. All sources are listed at the foot of the page
The cost of $500 at Spotloan
$1,405.08
At the highest APR Spotloan publishes, 490%, a $500 loan repaid in 6 monthly payments (Spotloan offers that term) works out to about $234.18 a payment: $1,405.08 back in total, of which $905.08 is interest.
This estimate uses the highest published APR and is no offer; the rate you get turns on where you live and on your credit. Spotloan gives this example: Borrow $600 on a first loan at 490% APR, 10 bi-weekly payments across five months: finance charges run about $775, with $1,375 due in all..
Good to know about Spotloan
- The owner is the Turtle Mountain Band of Chippewa Indians, through Ningo Lending
- Initial loans carry up to 490% APR, dropping to 99% only starting with the tenth loan.
- New and repeat borrowers can get up to $800; reaching $1,500 requires 10 or more prior loans.
- They show a simple cost example where repaying $600 costs about $1,375.
States where Spotloan lends
Spotloan names 39 states on its own site. Each link opens that state's payday and small-loan rules as general background, not a ruling on Spotloan's own loans, which may come under a different state law or a partner bank. 10 of them cap small-loan rates, marked capped.
- Alabama
- Alaska
- Arizona (capped)
- California
- Colorado
- Delaware
- Florida
- Georgia (capped)
- Hawaii
- Idaho
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts (capped)
- Michigan
- Mississippi
- Missouri
- Montana (capped)
- Nebraska (capped)
- Nevada
- New Hampshire (capped)
- New Jersey (capped)
- New Mexico (capped)
- North Carolina (capped)
- Ohio
- Oklahoma
- Oregon
- Rhode Island
- South Carolina
- South Dakota (capped)
- Tennessee
- Texas
- Utah
- Washington
- Wisconsin
- Wyoming
Spotloan complaints and lawsuits
The CFPB database lists 972 complaints naming Ningo Lending LLC dba Spotloan. Most common issues: you were charged fees or interest you did not expect; you find it hard to make your loan payments; i was charged fees or interest i did not expect. Check the CFPB count
Our search of CFPB, FTC and state enforcement records turned up nothing against Spotloan.
Want a cheaper loan than Spotloan?
Talk to a specialist about lower-cost choices in your state, credit union loans included. Talk to someone about cheaper options: 855.947.5189
This line reaches a debt and loan options specialist. We are not Spotloan and cannot reach your Spotloan account.
Spotloan alternatives: loans like Spotloan
| Lender | Type | APR | Amounts | States named | CFPB complaints |
|---|---|---|---|---|---|
| Spotloan (this record) | Tribal lender | 99% to 490% | $300 to $1,500 | 39 | 972 |
 Mobiloans | Tribal lender | 73.7% to 405% | up to $3,000 | 29 | 916 |
| Big Picture Loans | Tribal lender | 160% to 699% | $200 to $3,000 | – | 1,295 |
 BrightLending | Tribal lender | 325% to 725% | $300 to $3,000 | 41 | None filed |
 Lendumo | Tribal lender | – | up to $2,500 | – | 1,016 |
– means the company does not publish it. Complaint counts are totals, not rates: a bigger company draws more. Open any name for its full record.
Questions about Spotloan
Is Spotloan legit?
The Turtle Mountain Band of Chippewa Indians owns Spotloan, which is a tribal lender. Loans range from $300 to $1,500, with published APRs of 99% to 490%. Ningo Lending LLC dba Spotloan has 972 complaints in the CFPB complaint database.
Who owns Spotloan?
The Turtle Mountain Band of Chippewa Indians wholly owns Ningo Lending LLC. Ningo Lending LLC dba Spotloan is the lender listed on the loan.
Does Spotloan check your credit?
According to Spotloan, it pulls data from DataX, Clarity, and other non-traditional credit reporting agencies
How fast does Spotloan send the money?
Spotloan says loan terms accepted on a weekday before 1:30 p.m. CT are funded the same working day, and later approvals the next working day.
Has Spotloan been sued or fined?
Our search of official sites uncovered no CFPB, FTC or state enforcement action directed at Spotloan.
Where the Spotloan facts come from
- The Turtle Mountain Band of Chippewa Indians owns Ningo Lending LLC, which owns Spotloan; Maximum APR; Repeat customers qualify for lower APRsspotloan.com
- Spotloan calls itself an arm of the tribe that holds a license from the tribal regulatorspotloan.com
- Loan limits are $800 for new and repeat borrowers but $1,500 for preferred customers; This is the minimum amount shown on the loan calculator; This represents the longest term allowed for repaymentspotloan.com
- These are the affiliates listed within the privacy policyspotloan.com
- Total complaints in the CFPB database for Ningo Lending LLC dba Spotloanconsumerfinance.gov