in Personal Loans from Bluechip Financial

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in Personal Loans from Bluechip Financial

SuperMoney Net Recommendation Score +92


This product is strongly recommended by SuperMoney users with a score of +92, equating to 4.8 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

12 users recommend
1 user is unsure
0 users don't recommend
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Community Rating Strongly recommended
APR  (Fixed APR) Up to 490%
Loan Amount $300 - $800
Loan Term (Months) 3 - 10 months
Number of Reviews 13

Spotloan Review

Spotloan is offered by Bluechip Financial, a direct lender founded in 2012 and based in Belcourt, ND. Spotloan is available in 37 states across the USA.

Key Takeaways
  • Fast access to funds. In some cases you can get your money within 1 business day.
  • Small-dollar loans. Spotloan has a maximum loan amount of just $800.
  • Hard credit pull required. You can't check your rates or see if you prequalify for Spotloan without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • No origination fee. Spotloan does not charge a loan origination fee.
  • No late fees. Missing a payment can seriously damage your credit, but Spotloan will not charge additional fees if you miss the due date on a payment.
  • Short loan terms. Spotloan offers loan terms as short as 3 months. Most personal loans have a minimum term of 12 to 36 months.
  • Minimum income of $12,000. You will need an annual income of at least $12,000 to apply for Spotloan, which is below average for the lenders in our database
Spotloan Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • $0 origination fee.
  • Funding available within 2 business days.
  • APRs as high as 490%.
  • Short loan terms (maximum of 10 months).
  • Small loan amounts (maximum of $800).
  • Do not offer pre-approval with soft credit pull.
Spotloan FAQ

What interest rates and personal loan terms does Spotloan offer?

Spotloan has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Spotloan offer?

Spotloan offers a fixed APR personal loan product up to 490% APR.

How much can you borrow via Spotloan?

Loan amounts start at $300 and go up to $800

What is the maximum loan term you can get with Spotloan?

Spotloan offers loans with terms of up to 10 months.

Spotloan Interest Rates & Loan Terms
Personal Loan Amount $300 - $800
Loan Term 3 - 10 months
APR up to 490%

What fees does Spotloan charge?

Does Spotloan charge an origination fee?

Spotloan does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Spotloan charge a late fee?

No, Spotloan will not charge you a late fee if you miss one of the monthly payments.

Does Spotloan charge prepayment fees?

No, Spotloan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Spotloan Fees
Origination Fee No
Prepayment Fee No
Late Payment Fee No

What do you need to qualify for Spotloan?

Spotloan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with Spotloan, applicants need a minimum annual income of $12,000 or higher. Spotloan will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Spotloan product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Spotloan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Driver's license
Spotloan Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Credit Score N/A

What is the estimated funding time for a personal loan via Spotloan?

Spotloan will typically provide a credit approval decision in less than an hour and fund the loan within 2 business days.

Does Spotloan report your account activity to credit bureaus?

Yes, Spotloan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Spotloan Disclosure: Borrowers do not need to be employed, however, they need to have a regular source of income. Spotloan will typically provide a credit approval decision in one minute or less. In many cases, loans are funded on the same day to next business day depending on the loan acceptance time. If customers accept their loan terms on a Monday through Friday, before 10 a.m. CT, Spotloan will transfer the money to their bank by no later than 3 p.m. on the same day. If they accepted their loan terms on a Monday through Thursday between 10 a.m. CT and 8 p.m. CT, Spotloan will transfer their funds to their bank overnight. If they accepted their loan terms on a Friday after 10 a.m. CT through anytime on Sunday, Spotloan will transfer their money over the weekend and it will be waiting at their bank on Monday morning.
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Spotloan

Spotloan is a brand owned by BlueChip Financial, a tribally-owned entity organized under and governed by the laws of the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized Indian Tribe. BlueChip is located on and operates within the Tribe’s reservation. Spotloan provides an emergency loan product to help customers deal with emergency expenses such as rent, medical bills, car repairs, etc. Since its establishment in 2012, Spotloan has provided over 675,000 loans to hundreds of thousands of Americans in need. Spotloan prides itself on providing excellent customer service and is pleased to maintain a Trustpilot rating of 4.8. 


Hours of Operation

  • Sunday 9:00am - 6:00pm
  • Monday 7:00am - 8:00pm
  • Tuesday 7:00am - 8:00pm
  • Wednesday 7:00am - 8:00pm
  • Thursday 7:00am - 8:00pm
  • Friday 7:00am - 8:00pm
  • Saturday 7:00am - 8:00pm

About Spotloan


  Available in 37 states
  • Alaska
  • Alabama
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Iowa
  • Idaho
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maine
  • Michigan
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • Ohio
  • Oklahoma
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
No Late Fees
Checking Account Required
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Annual Income $12,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Social Security Number
Credit Bureau Reporting
  • Experian
  • Equifax
  • Clarity Services
Funding Time Range 1 - 2 days
Loan Amount $300 - $800
APR (Fixed APR) Up to 490%
Loan Term 3 - 10 months

Spotloan Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +92, equating to 4.8 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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