Everything You Need to Know About Green Dollar Loans

Everything You Need to Know About Green Dollar Loans
Everything You Need to Know About Green Dollar Loans

Here we detail what is Green Dollar Loan, what are the benefits of a Green Dollar Loan, Compare Green Dollar Loans with other lenders, and the Application Criteria for Green Dollar Loan.

What is a Green Dollar Loan?

Green Dollar Loans is a direct lender that scientific in providing both installment loans and auto title loans to US and Canadian residents. You won’t require good credit to apply, and you may be eligible to borrow between $500 and $10,000.

If you are approved, you will repay the amount you borrowed in installments. Loan terms can last up to 3 years. And if you end up needing to refinance your loan, Green Dollar can help you find extension options.

What are the benefits of using a Green Dollar loan?

Here are some benefits of using a Green Dollar Loan:

Quick process. The application is short, and a representative will contact you within 15 minutes of submission. If you’re approved, Green Dollar Loans claims you may be able to receive your money within one business day.

Wide reach. Green Dollar Loans works with borrowers in the US and Canada. However, it does not specify which states it services. You will have to call for that information.

Large loan amount. Green Dollar loans may be able to be offered up to $10,000.

what to watch:

No lender reviews. Not a Better Business Bureau (BBB) or Trustpilot page. Until you apply, you won’t know how it acts toward potential borrowers.

Limited contact information. Green Dollar Loans has a contact phone number and email form. That’s it. There is no information about its parent company or where it is located, which could be a sign of a disreputable service.

Short Application. Although a short application is often a good thing, a Green Dollar loan application may be too short. It only asks for your basic contact information and then instructs you to make more calls – this isn’t necessarily a good sign.

Application Criteria for Green Dollar Loan:

  • Proof of ID issued by the government
  • regular source of income
  • Must be a citizen or permanent local of the US or Canada
  • be at least 18 years old

Details of green Dollar Loan:

Name of Product: Green Dollar Loans

Minimum Amount: $500   

Maximum Amount: $10,000

Loan Term: up to 3 years

Costs: Varies

Requirements: You must have proof of government-issued ID, have a regular source of income, be a citizen or permanent resident of the US or Canada, and be at least 18 years old.

Precautions:

The Consumer Financial Protection Bureau (CFPB) no longer requires lenders to consider your ability to repay loans. This can put you at risk of getting trapped in the cycle of debt. Carefully review your finances and loan costs to make sure it fits your budget.

Before You Take a Short-Term Loan

Payday loans, installment loans, and auto title loans come with high rates and fees that can trap you in a cycle of debt. Borrowers may find themselves taking a second or third loan because they could not repay the first one on time.

Consider the following options before taking a short-term loan:

Local resources. Government agencies, nonprofits, and local charities often provide free financial services and help with food, utilities, and rent for those in need.

Payment Extension. If you’re behind on payments, talk to your billers about a longer payment plan or extension on your due date.

Green Dollar Loan Reviews and Complaints

Green Dollar Loans does not have a BBB or Trustpilot page – and with no direct way to contact it, you may want to consider a different loan service that has a history of positive customer contact.

Beware of shady promises

Although the Green Dollar Loan has safeguards, it makes some promises that some borrowers may consider a red flag. It not only boasts of instant approval but also states that you may be able to receive the funds on the same day.

It’s definitely worthwhile reading your contract carefully to make sure it complies with your state’s laws and regulations.

Is It secure to Apply with Green Dollar Loans?

Green Dollar Loans runs a secure website, but that’s about all the security information it provides. Its privacy policy explains how it uses your personal information and how you can control the sharing. And of course, you will need to opt in for email and text message notifications. If you decide you no longer need them, you can choose to stop receiving them at any time.

Am I eligible?


You only need to meet some basic eligibility criteria to be considered for the loan. 

  • You must have proof of ID issued by the government.
  • You must have a regular source of income.
  • You must be a citizen or permanent local of the US or Canada.
  • You must be at least 18 years old.


For an auto title loan, you will need to provide a line-free vehicle title along with proof of insurance and registration.

I was approved for the loan. now what?

Loan phrases vary from a few months to three years. The exact length of your term – and the fees you pay – will depend on your financial situation and the laws of your state or province.

A longer loan tenure may lead to smaller installments, but you end up paying more in the form of interest. Before you accept the loan agreement, take the time to review it carefully so you know exactly how much you will be paying.

Like all short-term loans, make sure you have a budget and are able to repay your loan every month. If not, you could face hefty late fees and other charges from Green Dollar.

Conclusion:

Green Dollar Loans offers some great installment loans, but they come at a cost: You won’t know the potential terms of your loan until you apply over the phone.

FAQs:

How long does it take to finish the application?

The whole process takes about 10 to 15 minutes, but the initial application shouldn’t take more than a minute.

How can I find the nearest store?

You can do this by calling 915-493-2650 and speaking with a Green Dollar representative over the phone.

Will Green Dollar check my credit?

It can be possible. As with all lenders, Green Dollar may run a credit check to make sure you are a good borrower. This could potentially have a slight negative impact on your credit score.

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