When you are shopping for a quick financial fix, Golden Valley Lending is among the numerous names you may come across. What sets this lender apart from others? And should you borrow from them?
In this comprehensive review of the service, we take a look at everything you need to know before borrowing from them.
Read on to find out whether or not Golden Valley Lending is the ideal service provider for you.
- 1 What is Golden Valley Lending?
- 2 Pros and Cons of a Golden Valley Lending Loan
- 3 How does a Golden Valley Lending loan work?
- 4 What loan products does Golden Valley Lending offer?
- 5 What other store services does Golden Valley Lending offer?
- 6 Golden Valley Lending Account Creation and Borrowing Process
- 7 Eligibility Criteria for Golden Valley Lending Loan
- 8 Information Borrowers Need to Provide to Get Golden Valley Lending Loan
- 9 What states are accepted for Golden Valley Lending loans?
- 10 What are Golden Valley Lending loan borrowing costs?
- 11 Golden Valley Lending Customer Support
- 12 Is it safe to borrow from Golden Valley Lending?
- 13 Golden Valley Lending Review Verdict
- 14 FAQ
What is Golden Valley Lending?
Golden Valley Lending is a tribal lender in the US operated by California’s Habematolel Pomo of Upper Lake.
They specialize in installment loans, offering borrowers little dollar loans for a fixed term.
Pros and Cons of a Golden Valley Lending Loan
How does a Golden Valley Lending loan work?
Golden Valley Lending offers a minimum loan amount of $300 and a maximum of $1,000 for your first loan. But on subsequent loans, you could qualify for a higher amount of up to $1,500.
Every borrower on the platform needs to repay the loan within a span of 5 months. This will take the form of 20 payments which you can make on a bi-weekly basis over the stipulated period.
Unfortunately though, the platform does not reveal the borrowing rates and fees. That means you can only find out the exact cost of your loan after going through the application process.
Unlike other lenders, tribal lenders do not have to adhere to the statutory limits that different states impose for lenders. Consequently, they can charge as much as they want to without contravening any legal guidelines.
Tribal lenders operate under tribal laws, which are set by Native American tribes and function on tribal land. These tribes are recognized as sovereign nations and do not therefore need to come under state laws.
A major advantage of this is that tribal lenders like Golden Valley can operate in a lot more states than traditional lenders. It offers services in at least 35 states. If you qualify for one of Golden Valley’s tribal loans, you can get funding in as short as 1 business day.
Another benefit that comes with this lender is the fact that they offer discounts to return borrowers.
What loan products does Golden Valley Lending offer?
Golden Valley Lending offers short term installment loans.
What other store services does Golden Valley Lending offer?
The lender does not offer any other store services.
Golden Valley Lending Account Creation and Borrowing Process
For your very first loan from Golden Valley Lending, you will have to make your application online. Thereafter, you can choose between an online and over-the-phone application.
1. To get started, visit the site and select the amount you want to borrow then click “Apply Now” or “Sign In.”
2. Provide your full name as well as your email address and then select your military status.
4. Provide some information about yourself as well as your income and bank account details. If you have a promo code, enter it.
5. The lender will verify your information and let you know whether or not you are successful.
In case you make your application on a weekday before 04:30 PM, you will likely receive cash by the next business day.
If not, you may need to wait at least 2 or more business days for them to process your application fully and release the funds.
Eligibility Criteria for Golden Valley Lending Loan
Here are the requirements you need to meet so as to qualify for a loan from Golden Valley Lending:
- Be at least 18 years of age
- Have a regular source of income
- Have a valid bank account
- Be a US citizen or a permanent citizen
Information Borrowers Need to Provide to Get Golden Valley Lending Loan
Among the information you need to provide, the lender will request from you:
- Social security number
- The next two pay dates
- Monthly income
- Bank account details
- State ID number or driver’s license number
What states are accepted for Golden Valley Lending loans?
Golden Valley Lending offers services in a total of 35 US states. You cannot access the services if you live in Washington DC or any of the following states:
What are Golden Valley Lending loan borrowing costs?
Though the site claims to be transparent, you cannot tell how much you will pay in rates and fees at the onset. It is only possible to see your borrowing costs once you complete the application process.
Golden Valley Lending Customer Support
Based on the reviews former customers have posted online, the lender’s support team has a lot of room for improvement. The platform is not accredited with Better Business Bureau and has a B rating.
There are lots of complaints regarding poor customer service as well as outrageous fees.
Interestingly though, the site has a 9.2 out of 10 rating on Trustpilot, with a flood of positive comments posted over a short span of time. However, all of the 1,200 reviews are verified.
This raises eyebrows and it would be best to exercise extra caution before signing up. go through the contract carefully to ensure you fully understand costs.
Is it safe to borrow from Golden Valley Lending?
The site makes use of 128-bit SSL encryption to keep user information safe. And it allows you to limit the information they can share with affiliates.
Golden Valley Lending Review Verdict
If you are looking for a little more flexibility than a payday loan provides, you could consider Golden Valley Lending. They offer 5-month installment loans in a majority of states.
And though their initial limit is low, you can get a higher limit after repaying the first loan. You may also get a discount on the rate.
But they are not transparent with their fees and often charge exorbitant rates.
Overall, they might only be good as a last resort option when you cannot get a loan anywhere else.
Yes. This may affect your score slightly but is necessary to confirm creditworthiness. Contact the support team ahead of your due date so that they can help you make alternative arrangements. No. Starting May 2019, the lender only accepts repayments using ACH or debit card, not credit cards. No. The lender only allows you to have a single outstanding loan at any given time. In fact, if you have more than two existing loans on other platforms, they cannot approve your request.
Yes. This may affect your score slightly but is necessary to confirm creditworthiness.
Contact the support team ahead of your due date so that they can help you make alternative arrangements.
No. Starting May 2019, the lender only accepts repayments using ACH or debit card, not credit cards.
No. The lender only allows you to have a single outstanding loan at any given time. In fact, if you have more than two existing loans on other platforms, they cannot approve your request.