Northern Plains Funding Review

Northern Plains Funding Review
Northern Plains Funding says that you can get instant approval for one of their Flex Pay loans and that you can use this money for any pressing financial situation you find yourself in. We are always on the lookout for lenders that offer a loan with a more reasonable repayment schedule, so let’s look at what it is they are offering here.

The reason it is so important to find a loan with repayment options that are different than a payday loan is because the repayment plan of a payday loan is what keeps people in the payday loan trap. By having to pay off your loan 2 weeks after you receive the money, you are almost guaranteed to need to take that money out again because you won’t be able to make it until your next payday.

That’s why if you can find a lender like this that is offering payments, you can stand a chance of being able to repay the loan over time, you just have to make sure that the numbers make sense and that you aren’t going to be paying too much for this advantage.

Northern Plains Funding Review – Get the Basics

Northern Plains Funding says you can take the money out for any reason you need to, whether that is a medical emergency like hospital bills, or home repairs like a broken air conditioner or a leaky roof, or in order to catch up at your bank if you are overdrawn, or late fees that you’d have to pay to your utilities or credit cards, or to cover a bounced check so that you don’t keep getting more and more fees, or even to pay the rent if you can’t pay the rent.

By the way, it is not a good idea to pay your rent with a loan because it represents a basic cost of living, and this is an indication that you are living above your means which will only result in increased debt with no ability to pay it down.

Instant Approval
Many lenders claim to have instant approval, and the term has really lost all meaning, because there isn’t any such thing as instant approval. You can get pre-approved, but someone is going to have to look at your application personally before they make any sort of final decision. So while they may give you some sort of preliminary indication as to whether your application looks good or not, they will not be able to extend an offer to you until someone had a chance to look at it.

In addition to that you shouldn’t expect to get your money instantly because the lenders do not have control over when the funds become available in your bank account, they can only control how quickly they can send the money to your bank.

Flex Pay Loans
Flex Pay loans are an interesting proposition because if you can be flexible with your repayment plan, you can typically make the payments without ruining yourself further financially. If you are able to keep the majority of your money for longer than 2 weeks, you can get back on your feet and start to make adjustments in your lifestyle in order to have the extra cash left over to pay off the loan in installments rather than making it all at once, forcing you to take the money out again.

Native American Owned Business
Some of the lenders in the payday loan industry are owned by Native American tribes, and this is another example of that. Many borrowers don’t understand why this make a difference, so we like to point out a few interesting facts about Native American payday lenders. First, they will not be paying any money to the federal or state government on the income they bring in.

Next, they will not need to abide by any federal laws regarding collection practices if you do not pay your loan on time. Be sure to get as much information as you can about the differences between going with a local lender and an online Native American lender

Our Recommendation
Northern Plains Funding seems like they are doing a good job of providing more flexible repayment options than a typical lender. This will mean that there is less of a chance that you will need to take the money out again after you pay it off, so it means that they might end up making less money per loan, but they seem to be in it for the long term and are willing to do more business to make up for the lower chance of reloans.

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