In today’s fast-paced world, financial emergencies can arise unexpectedly. Whether it’s a sudden car repair, medical bill, or any unforeseen expense, having access to quick funds becomes crucial. Three Sticks Lending positions itself as a solution for such needs, offering installment loans tailored to various financial situations.
What is Three Sticks Lending?
Three Sticks Lending is an online lending platform that provides installment loans to individuals seeking short-term financial assistance. Unlike traditional payday loans that require full repayment on the next payday, installment loans from Three Sticks Lending allow borrowers to repay over a set period with scheduled payments. This structure offers flexibility and can ease the financial burden on borrowers.
The Origin and Affiliation
Three Sticks Lending operates as a wholly-owned economic arm and instrumentality of the Rosebud Sioux Tribe of the Rosebud Indian Reservation, a federally recognized sovereign American Indian tribe in South Dakota.
This affiliation underscores the company’s commitment to providing financial solutions while supporting the tribe’s economic development.
Loan Offerings and Amounts
The platform offers installment loans ranging from $200 to $3,000, depending on the borrower’s qualifications. The loan process is designed to be swift and straightforward, with approvals possible within minutes. Once approved, funds can be deposited as soon as the next business day, ensuring timely access to necessary finances.
Eligibility Criteria
To qualify for a loan with Three Sticks Lending, applicants typically need to meet the following criteria:
- Employment or Regular Income: Applicants should have a steady source of income.
- Minimum Income Requirement: A monthly income of at least $800 is generally required.
- Age and Residency: Applicants must be at least 18 years old and U.S. residents.
- Bank Account: An active checking account is necessary for transactions.
These requirements ensure that borrowers have the capacity to repay the loan, promoting responsible lending and borrowing practices.
Application Process
Applying for a loan with Three Sticks Lending involves a few simple steps:
- Online Application: Complete a secure online loan application with personal and financial details.
- Approval Status: Receive approval status promptly and review the loan documents.
- Finalize Loan: Upon agreement, finalize the loan. If completed by 2:00 p.m. CT, funds may be available the same day.
This streamlined process ensures that borrowers can access funds quickly and efficiently.
Repayment Terms
Repayment terms are structured to accommodate the borrower’s pay frequency, with options typically ranging from 10 to 18 months. Payments can be made via Automatic Withdrawal (ACH) from the borrower’s bank account, debit cards, cashier’s checks, or money orders. Importantly, there are no penalties for early repayment, allowing borrowers to save on interest by paying off their loans ahead of schedule.
Interest Rates and Fees
The Annual Percentage Rate (APR) for loans varies based on several factors, including the loan amount, term, and the borrower’s creditworthiness. While specific rates are not disclosed upfront, Three Sticks Lending emphasizes transparency, providing full disclosure of loan details, finance charges, and APR in the loan agreement upon approval. Borrowers are encouraged to review these terms carefully to ensure they align with their financial capabilities.
Customer Support and Care
Three Sticks Lending places a strong emphasis on customer care. Their team is dedicated to providing top-tier service, addressing questions or concerns promptly. The platform also utilizes advanced security technology to protect personal information, ensuring a safe and secure borrowing experience.
VIP Rewards Program
To reward customer loyalty, Three Sticks Lending offers a VIP Rewards Program. Members may qualify for higher loan amounts and additional perks for making on-time payments. This program incentivizes responsible borrowing and fosters long-term relationships with clients.
Regulatory Compliance
Operating under the jurisdiction of the Rosebud Sioux Tribe, Three Sticks Lending adheres to all applicable federal laws and regulations. The company emphasizes non-discriminatory practices, ensuring that credit applicants are evaluated based on their financial credentials without bias.
Availability Across States
It’s important to note that Three Sticks Lending’s services are not available in all states. As of the latest information, loans are unavailable to residents of Arkansas, Connecticut, the District of Columbia, Illinois, Maine, Minnesota, New Hampshire, New York, Pennsylvania, South Dakota, Vermont, Virginia, and West Virginia. Prospective borrowers should verify availability in their state before applying.
Commitment to Transparency
Transparency is a cornerstone of Three Sticks Lending’s operations. The company ensures that customers are fully aware of their total repayment amounts before signing loan agreements. Additionally, borrowers have the right to cancel their loan without cost or finance charges by 5:00 p.m. Central Time on the second business day following the disbursement date, providing flexibility and peace of mind.
Advantages of Choosing Three Sticks Lending
Several benefits make Three Sticks Lending an attractive option for borrowers:
- Flexible Repayment: Installment loans with manageable payment schedules.
- Speedy Processing: Quick approval and funding