eLoanWarehouse Review

eLoanWarehouse Review

Borrow up to $2,500 from eLoansWarehouse quick and easy. Make sure to read the fine print as these loans can be expensive if you have bad credit.

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Formerly Blue Trust Loans, eLoanWarehouse is an online tribal lender offering installment loans for people with less than excellent and bad credit. Read more to find out the pros and cons of this lender.

  • Best for – Consumers seeking an alternative to an online payday loan.
  • What to watch out for – Higher interest rates than non-tribal lenders.
Table of Contents

    Features of eLoanWarehouse

    • Loan amount Loans start at $300 for personal needs to $2,500 for unexpected or bigger expenses.
    • Loan term – Flexible durations ranging from 6 to 12 months.
    • Fees No early repayment fees.
    • Availability – Originates in Wisconsin and operates in various regions across the United States.
    • Fast funding
    • Fast application
    • Accepts low credit scores
    • High interest rates
    • Limited support for past bankruptcies
    • Low approval amounts for first time borrowers

    eLoanWarehouse installment loan details

    • Max loan amount – $2,500
    • Min loan amount – $300
    • Loan terms and Rrates – Terms depend on how many loans you had through the company, starting at 6 months for your first loan and going up to 12 months for the fifth loan. APRs between 5.99% and 25.99%, depending on creditworthiness. 
    • Credit score range for approval – 650 to 850
    • Turnaround time – Approval within 24 hours; funds deposited in as little as one hour post-approval.
    • Available states – Operates in all 50 states.
    • Requirements
      • Bank Account: Active checking or savings account required that meets the company’s minimum opened duration
      • Min Income: At least $20,000 annually
      • Age: Must be 18 years or older
      • Employment: Proof of steady employment or other consistent income
      • Military Service – You or your family member must not be military
    • Acceptance
      • Welfare Status: Accepted if combined with other income sources
      • Employment Status: Employed, self-employed, and some types of freelancers
      • Past Bankruptcies: Recent bankruptcies or the intent to file for bankruptcy may be a disqualifying factor
    • Loan security – Unsecured
    • Fees – There is no fee for paying the loan back early, but there is no information about service or origination fees on the website.  

    What are the benefits of eLoanWarehouse?

    Many benefits come with using eLoansWarehouse, and they cater to a wide range of borrowers’ needs, including: 

    • Fast funding – Once you apply for a loan and submit your documents, you can get approval and the money in your bank between one and 24 hours later. 
    • Quick application – When you submit your documents, you can call the listed number and go through everything to speed up the approval process. 
    • Caters to bad credit – This company caters to people with credit scores that start at 650 and go up. 

    What to watch out for

    While eLoansWarehouse offers many benefits, there are certain aspects that potential borrowers should be aware of, including: 

    • Potentially higher rates – Depending on creditworthiness, some borrowers might end up paying higher rates than traditional banks.
    • Limited support for past bankruptcies – If you have a recent bankruptcy or you’re considering filing for bankruptcy, this is grounds for denial.
    • Tiered loan system – The company caps the amount of money they’ll lend you based on loyalty tiers, so it may not be enough for your needs if this is your first or second loan. 

    Is eLoanWarehous legit? 

    Yes, they are a licensed tribal lender, and this means the company is a sovereign entity. They might not be exempt from state lending laws, which means their loan products might carry higher interest rates or fees than those permitted under state law. They also display their license right on the main page, which opens to reveal a certificate when you click on it.  

    Am I eligible?

    Consider the following eligibility requirements to see if you’re a good fit for an eLoansWarehouse loan:

    • Age – 18 years old
    • Bank Account – An active checking or savings account that meets the company’s minimum opened duration is required for the company 
    • Credit Score – A credit score of 650 to 850, though some loans may be available for those with lesser scores depending on additional criteria
    • Income Source – Steady employment or proof of regular income
    • Minimum Income – Earnings should meet or exceed $20,000 annually
    • Past Financial History – Recent bankruptcies, the intent to file bankruptcy soon, or several late payments decrease your eligibility
    • Residency – Must be a U.S. resident

    How do I apply for an eLoansWarehouse payday loan?

    This company makes it relatively easy to apply for one of their loans online. To apply, you’ll: 

    1. Start the Application – Go to the eLoansWarehouse website and choose your loan amount. If this is your first loan, it caps at $800. Before clicking submit, input your first and last name, email, and phone number. You’ll also need your address, social security number, banking details, income source, and employment details. 
    2. Contact a Customer Service Representative – Once you have your information, contact the company’s customer service representative to verify it. 
    3. E-Sign the Loan Document – E-sign the loan documents, and they’ll send the money to your bank account. This can take anywhere from 1 to 24 hours after approval.

    What Documents do I Need to Apply?

    When you apply for a loan through eLoansWarehouse, you’ll need to supply several documents that support your income claims, including: 

    • Proof of identity, including a driver’s license, passport, state-issued ID, or tribal ID
    • Proof of income like recent pay stubs, bank statements, employment verification letter, or tax returns 
    • Active checking account proof like a recent bank statement or a voided check 
    • Proof of residency, like a recent utility bill, lease or rental agreement, or mortgage documents.

    I got an eLoanWarehouse payday loan, now what?

    Managing your payday loan responsibly is critical now that you’ve secured it. Ensure you understand the repayment terms, including the due date and fees. Budget accordingly to repay the loan on time and avoid paying additional interest or late fees. To avoid missed payments, you can set up reminders or automatic payments.


    Loans: $300 - $2,500

    APR: 5.99% - 25.99%

    Credit score: 650+

    Application simplicity
    User experience
    Customer Service
    3.8 Overall Rating

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