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Spotloan Review


3.0 rating

Foundation Year

Office Address
914 Chief Little Shell St, Belcourt, ND 58316

Phone number



  • Soft credit pull
  • Few requirements to apply
  • No prepayment fee
  • Pause your payments
  • Auto-payment option
  • Repay a loan over months
  • Apply for prequalification without affecting your credit scores
  • Get money the next day


  • Large loan amounts not available
  • Small-dollar loans
  • Not available in all states
  • High interest rates


Spotloan is an online lender that offers short-term personal loans with fixed payments. The company is owned by BlueChip Financial, an Indian Tribe-backed entity. This means that the lender does not abide by state regulations. The lender operates under local Tribe laws. However, this is a direct lender and you will only deal with this company. Thus, the company does not connect you to third-party providers.

What loans does Spotloan offer?

The lender does not offer traditional payday loans that are due in full at the time of your next payday. They offer installment loans lasting from 3 to 10 months.

The website includes a loan calculator, which helps you to determine what monthly payment you can afford, based on the loan amount you’d like to borrow.

What terms and rates does Spotloan offer?

Spotloan APRs may be much higher than those offered by other personal loan lenders. APR depends on your terms. It could reach 490%.

Spotloan loans are short-term. Unlike a traditional payday loan, which you would need to repay your next payday, installment loans can be repaid within 3 to 8 months.

The lender may even approve a longer loan term (up to 10 months). But remember the longer your loan term, the more interest you’ll pay.

How to apply for a loan from Spotloan?

To apply for a loan from this lender, you’ll need to complete an online application on their website. To apply, you must be at least 18 years old, have verifiable employment or another regular source of income, a valid email address, a phone number and a bank account.

You’ll be asked to provide the following information to submit your application:

If approved, you will be able to receive your funds the same day to within 2 business days.

How do I qualify for a loan?

Here’s what Spotloan require from you:

How to pay a loan back?

This company accepts payments in the following ways:

It’s nice that the lender offers a choice. Online lenders rarely accept checks or money orders. Most require that payment is automatic.

Can I repay a loan earlier?

Yes. You can repay your loan before the due date. There are no prepayment penalties, so if you can quickly pay back the loan.

Can I take a loan if my credit score is low?

Yes, you may be able to get a personal loan with bad credit. The company works with bad credit. Nevertheless, they will review your credit when considering your application.

Spotloan does not report payments to the credit bureaus. However, if you do not repay your loan, your credit score will be affected.

Does Spotloan have a mobile app?

Obviously, the lender does not have a mobile app, which is a disadvantage. If you are an active mobile user, you may experience some inconvenience when applying for a loan from this lender.

What states does Spotloan service?

Online installment loans are available in the following states: Alaska, Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming.


If you’re having a difficult financial situation, a short-term installment loan from Spotloan could be a good option rather than taking a traditional payday loan (which is short-term) or a title loan (which can be risky because your car is used as collateral). However, interest rates are very high. So if you have good credit or need a larger loan amount, you should look for other lenders.


1.0 rating

I have missed one payment, and now I’m receiving never-ending calls from them day and night. Just today I have received 3 calls within 15 minutes from Spotloan. This is illegal. I want them to stop calling me.

Matthew Young
1.0 rating

I have applied 5 times or more with this lender and all times they have denied without a reason. And all I was trying to do is get $400 so I could buy some winter clothes. They don’t care about their customers. So disappointed.

Gregory Kaufman
5.0 rating

I was in trouble and turned to Spotloan. The process was very fast and easy. Had funds in my account when I needed them most.

Erica Walker
5.0 rating

I don’t have any complaints. The money is always on my account when promised. I think I’ve gotten maybe 9 loans over 6 years. Very reliable lender.

Patricia Henderson
5.0 rating

I used this lender 3 times and had a great experience. I needed a home improvement and they helped me get funds quickly. I would use them again if needed.

David Anderson

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