Spotloan is owned by BlueChip Financial, a tribally owned entity organized under and governed by the laws of one of the country’s largest federally recognized Indian Tribes, the Turtle Mountain Band of Chippewa Indians of North Dakota. Since its establishment in 2012, Spotloan has provided almost half a million loans to hundreds of thousands of Americans in need. Spotloan prides itself on excellent customer service – all done from the call center operations on the reservation in Belcourt, North Dakota. Spotloan borrowers love Spotloan, consistently rating it 4 and 5 stars in customer satisfaction surveys.

Competitive advantage of being an online loan lender
As a direct lender of online loans, Spotloan is revolutionizing the emergency loan market by teaming with some of the world’s most sophisticated FinTech vendors. Spotloan uses machine learning (artificial intelligence) and big data to detect fraud and predict payback. We provide online loans directly to borrowers through desktop or mobile devices, underwriting those loans in a matter of seconds without making the applicant fill out a lengthy application.

Spotloan is dedicated to providing fair and transparent access to credit. Without the overhead costs of brick-and-mortar locations, and by doing a better job of detecting fraud and predicting payback, we’re able to offer borrowers access to emergency capital that many other lenders can’t. We can offer loans to “thin file” borrowers, the unbanked and the underbanked at up to half the cost of other small-dollar lenders, payday companies and pawn brokers, without the hidden fees—such as origination, rollover, and missed payment fees—that others often charge.

Impact of BlueChip Financial for economic development
Spotloan is an important part of economic development for Turtle Mountain. We provide much-needed opportunities to a community facing major job losses and unemployment rates of more than 65%. Spotloan also provides critical revenue to the tribal government for its many community programs such as food and housing assistance; natural gas winter heating assistance; job training; suicide prevention; mental health counseling; community college curriculum, faculty and facilities; early childhood education and parenting programs; drug addiction treatments; gang prevention efforts; and healthy living programs (such as the dialysis center, healthy eating programs, and physical fitness facilities and programs). BlueChip was proud to have been honored as “Business of the Year for 2017” by Turtle Mountain.

Loan Features

Spotloans are short-term installment loans. You get the cash you need quickly and easily. 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:

1. A better rate on your next loan with us after completing your first loan with Spotloan.
2. Highly trained Relationship Managers to help you every step of the way
3. The freedom to pay off your Spotloan at any time with absolutely no prepayment penalty
4. The flexibility to pause your payments (as long as your account is in good standing)

Why our customers love our Short-Term Loans
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.

Application Process

To apply for a Spotloan, you’ll need:

A job or other regular source of income
A checking or savings account
A valid email address and phone number
To be at least 18 years old
Once you apply for a Spotloan, we’ll be able to tell you whether or not you qualify for a Spotloan.

The application process is fast as it is done completely online. Most people complete the process in about 10 minutes. Spotloan deposits can take one to two business days, but usually arrive within 24 hours.

Repayment Terms

Spotloan offers installment loans between $300 and $800. Our maximum interest rate is 490%. Annual Percentage Rate (or APR) expresses the cost of the loan as a percentage of the amount borrowed converted to an annual rate. Spotloans are short-term installment loans, which means you pay back your loan over time. You choose how long you want to pay the loan back – anywhere from 3 to 10 months. As you make these payments, you pay down both the interest and principal until the loan is paid off. And you can pay your loan off early with no prepayment penalties.

Customer Support

(888) 681-6811

Hours of Operation
Monday – Friday 7am-8pm CST
Saturday 9am-6pm CST

P.O. Box 927
Palatine, IL 60078-0927

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