Plain Green Loans facts for kids
| Private | |
| Industry | Financial services |
| Headquarters | , |
| Products | Payday lending |
| Owner | Chippewa Cree Tribe |
Plain Green Loans is an online company that helps people get money quickly. They offer what are called installment loans. These loans are designed for emergencies or when people need cash fast.
Plain Green Loans is owned by the Chippewa Cree Tribe. This tribe lives on the Rocky Boy Indian Reservation in Montana. The company helps people who might find it hard to get loans from regular banks. They offer loans that can be paid back over time, either every two weeks or every month.
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About Plain Green Loans
Plain Green Loans is an online service. It helps people manage their money when they have unexpected costs. They market, approve, and manage their own loans.
How it Works
When someone needs money quickly, they can apply online. Plain Green Loans looks at their application. If approved, they get the money they need. Then, they pay it back in smaller amounts over time. This is different from a single payment loan.
Company History
Plain Green Loans started helping people in 2011. In that year, they gave out over 121,000 loans.
Tribal Ownership and Laws
The Chippewa Cree Tribe is a sovereign nation. This means they have their own government and laws. Because of this, they are not always under the same state laws as other companies. This includes laws about how much interest they can charge on loans.
In 2012, a court in Colorado made an important ruling. It said that tribal immunity (the idea that tribes have their own rules) applies everywhere. It is not limited to just their reservation land.
Recent Events
In 2018, Plain Green Loans and another company, BEH Gaming Ltd, reached an agreement. This agreement settled a legal disagreement. It meant that the Chippewa Cree Tribe and its development company were no longer responsible for certain debts. This helped clear up a lawsuit that started in 2014.
Company Operations
Plain Green Loans works to serve its customers. The company has a "B" rating with the Better Business Bureau. This rating shows how the company handles customer complaints and its business practices.
