American Web Loan Review

American Web Loan is a tribal lender owned by the Otoe-Missouria Tribe of Indians. Loan rates and terms are not provided on their website. The website states the total cost differs for every loan and is based on creditworthiness, a proprietary scoring method, the amount borrowed, and the term of the loan. Your finance charge and APR will be fully disclosed to you in your loan agreement. They offer installment loans with terms varying between 6, 9, and 12 months.

They do not appear to be licensed in any state and instead rely on exporting their tribal laws into the states they operate.

This lender appears to have been working to improve its business practices. We originally reviewed this lender in 2014 and they had a Better Business Bureau (BBB) rating of D-. Since then they have improved their rating to a B. This is a significant improvement. In the past, they had numerous complaints around billing and collection issues as well as sales practices including deception and misrepresentations. This no longer appears to be the case based on BBB reviews. There are still many complaints about the product. In general, it appears much of this has to do with not understanding the terms. Do make sure, as with any loan, that you under all the terms before accepting a loan. Make sure you understand repayment terms including the exact date payments will be withdrawn from your account. If you do not understand the terms or the lender refuses to share them we would avoid working the lender.

The American Web Loan application is fairly standard asking for personal details, social security numbers, and bank details. Funding is also typical with next day deposit available if applications are approved early enough in the day.

American Web Loan does not appear to report anything to the credit bureaus. This means timely payments will not improve your credit score although failing to pay the loan may hurt your credit score if your loan is sold to a collection agency who does report to the bureaus.

The Otoe-Missouria Tribe of Indians have lived in the Missouri River Valley since the 1600s and was the first tribe to meet with Lewis and Clark in 1804. American Web Loan was conceived as part of the Tribe's economic development program. Revenue from American Web Loan goes to fund tribal community programs including elder service, education, after school programs, improved housing and infrastructure, and public safety. Today most of the nearly 3,300 tribal members still live in the state of Oklahoma, but there are members who live throughout the United States including New Jersey, California, Hawaii, and Alaska. The tribe is still one of the smaller tribes in Oklahoma but led by a progressive Tribal Council, they have parlayed their gaming revenue into a long-term investment in other sustainable industries including retail ventures, loan companies, agriculture, natural resource development, hospitality, entertainment, and several other projects still in development. Tribal members perpetuate tribal traditions with feasts, dances, an annual powwow and song leaders continue lineage, clan, and tribal ties.

American Web Loan does not appear to be a solid choice for borrowing money. Doshound prefers lenders that provide more information and are state licensed.