Rates & Fees
Full disclosure of all costs before you borrow. No hidden fees, no surprises.
Important: High-Cost Loan Disclosure
Little Lake Lending loans are high-APR installment loans intended for short-term financial needs. These loans are more expensive than many other forms of credit. Please consider all options before borrowing, including loans from banks, credit unions, or other lenders. Only borrow what you can afford to repay.
Little Lake Lending Finance: Complete Cost Transparency
We believe you deserve to know exactly what your loan will cost before you commit. Below you'll find our rate ranges, sample calculations, and all fees explained clearly. Your actual rate depends on your credit profile and loan amount.
Annual Percentage Rate (APR) Range
Note: Your actual APR is determined by your credit history, loan amount, and repayment term. The APR you receive will be clearly disclosed in your loan agreement before you sign.
Loan Amounts Available
| Customer Type | Minimum | Maximum | Terms Available |
|---|---|---|---|
| New Customers | $200 | $2,000 | 4 - 18 months |
| Returning Customers (good standing) | $200 | $2,500 | 4 - 24 months |
Sample Loan Calculations
The following examples show what different loans might cost. Your actual costs may vary based on your approved rate.
| Loan Amount | APR | Term | Payment | Total Repayment | Finance Charge |
|---|---|---|---|---|---|
| $500 | 350% | 6 months | $75.38 bi-weekly | $980.00 | $480.00 |
| $1,000 | 300% | 9 months | $104.21 bi-weekly | $1,980.00 | $980.00 |
| $1,500 | 275% | 12 months | $115.77 bi-weekly | $3,010.00 | $1,510.00 |
| $2,000 | 250% | 18 months | $112.31 bi-weekly | $4,380.00 | $2,380.00 |
| $2,500 | 225% | 24 months | $110.10 bi-weekly | $5,725.00 | $3,225.00 |
💡 Save Money Tip: You can pay off your loan early at any time with no prepayment penalty. Early payoff reduces your total finance charges.
Complete Fee Schedule
| Fee Type | Amount | When Charged |
|---|---|---|
| Application Fee | $0 (Free) | Never - applying is always free |
| Origination Fee | Varies by loan | Deducted from loan proceeds (included in APR) |
| Prepayment Penalty | $0 (None) | Never - pay off early and save |
| Late Payment Fee | Up to $30 | If payment is 3+ days past due |
| NSF / Returned Payment Fee | Up to $30 | If scheduled payment fails |
| Real-Time Funding Fee | $5.00 | Optional - only if you choose instant funding |
Repayment Options
Bi-Weekly Payments
Payments scheduled every two weeks, aligned with most pay schedules. This is our most popular option.
- Smaller, more manageable payments
- Aligned with payday
- Pay off faster than monthly
Monthly Payments
One payment per month for those who prefer monthly budgeting.
- Easier to budget monthly
- Fewer transactions
- Available for qualifying borrowers
How Your APR is Determined
Your Annual Percentage Rate is based on several factors:
- Credit History: Your credit score and repayment history
- Loan Amount: Larger loans may qualify for lower rates
- Loan Term: The length of your repayment period
- Customer History: Returning customers with good payment history may qualify for better rates
- Income Verification: Verified income supports loan approval
⚠️ Important Disclosures - Please Read
High-Cost Loan Warning: This is an expensive form of borrowing. Little Lake Lending loans have APRs ranging from 199% to 490%. These loans cost significantly more than most other credit options including credit cards, bank personal loans, or credit union loans.
Before You Borrow, Consider:
- Can you afford the payments along with your other expenses?
- Have you explored other options such as payment plans with your creditors, credit union loans, or assistance programs?
- Do you understand the total amount you will repay?
Tribal Lending Entity: Little Lake Lending is a tribal lending entity wholly owned by the Big Valley Band of Pomo Indians, a federally recognized Indian tribe. Our loans are governed by tribal law and applicable federal law.
Credit Reporting: We may report your payment history to one or more credit bureaus. Late payments, missed payments, or defaults may negatively impact your credit score.
Collection Practices: If you fail to repay your loan, we may engage in collection efforts including phone calls, emails, and reporting to credit bureaus. We do not sell or assign loans to third-party debt collectors.
Consider Your Alternatives
Before borrowing from any high-APR lender, we encourage you to consider these alternatives:
| Alternative | Typical APR | Pros | Cons |
|---|---|---|---|
| Credit Union Loan | 18% - 28% | Much lower cost | May require membership, slower approval |
| Bank Personal Loan | 6% - 36% | Lower rates for good credit | Requires good credit score |
| Credit Card | 15% - 30% | Revolving credit available | Requires credit approval |
| Payment Plan | 0% - varies | Work directly with creditor | Not always available |
| Little Lake Lending | 199% - 490% | Fast approval, flexible credit requirements | Higher cost than traditional options |
Questions About Our Rates?
Our customer service team is available 24/7 to explain our rates, fees, and loan terms. We're committed to making sure you understand exactly what you're agreeing to.