Why yes they are, and here is why — tribal installment loans originate from sovereign Native American land, and not the United States of America.
To answer your next question, YES the tribal lands are inside the USA. Yet legally, they are considered their own separate land, free and clear of Federal Government rules and regulations.
Tribal loans of all kinds operate very much like other kinds of loans: you need to apply and be approved by the lender. But the tribal lenders are not beholden to the typical standards and practices, which allows them to lend to whomever they see fit.
This means that many tribal loans are not based solely upon your credit rating. Some lenders may factor in your credit history, but others don’t even look at it! It is entirely up the specific lender and specific tribe.
Finding Tribal Installment LoansFortunately you do not need to live on sovereign Native American lands, or be a member of a tribe, to find these loans. There are several different tribes that offer their lending services to everyone.
We are one of them, but there are other lenders and other tribes. The truly great thing about tribal installment loans is that they govern themselves and set their own policy. What the rules are for one tribal lender may be very different for another.
But they are not beholden to follow the rigid and draconian rules set forth by the federal government. If you are looking for a small loan and not interested in the Fed scrutinizing your every move, tribal loans may be just what you have been seeking.
For more information about National Small Loan and the installment loan packages we offer, click the button! If we don’t meet your current needs, keep searching! The tribal loan you need is out there somewhere!