Last Updated: 04/18/2025
SuperMoney User Recommendation Score +68
Strongly recommended25 total votes
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Highlights
Community Rating
Strongly recommended
APR (Fixed APR)
Up to 490%(Verified 06/21/2024)
Amount Range
$300 - $800
Disclaimer popup with additional information
Loan Term (Months)
Up to 10
Number of Reviews
Spotloan Personal Loans Review
Spotloan Personal Loans is offered by Bluechip Financial, a direct lender founded in 2012 and based in Belcourt, ND. Spotloan are available in 39 states.
Key Takeaways
- .
- Fast access to funds. If approved, Bluechip Financial will send the money in as little as 24 hours.
- Small-dollar loans. Spotloan Personal Loans has a maximum loan amount of just $800 .
- No origination fee. Spotloan Personal Loans does not charge a loan origination fee.
- No late fees. Spotloan Personal Loans will not charge additional fees if you miss the due date on a payment.
Spotloan Pros & Cons
| Pros | Cons |
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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?
Personal 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.
| Personal Loan Amount | $300 - $800 |
| Loan Term | up to 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, consider 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 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.
| Origination Fee | No |
| Prepayment Fee | No |
| Late Payment Fee | No |
What do you need to qualify for Spotloan Personal Loans?
Spotloan Personal Loans 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. Spotloan Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Spotloan Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Driver's license or other government photo ID
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | N/A |
What is the estimated funding time for a personal loan via Spotloan?
Spotloan will typically fund loans within 1 to 2 business days of approval and clearing necessary verifications.
Does Spotloan Personal Loans report your account activity to credit bureaus?
Yes, Spotloan Personal Loans reports to the following credit bureaus:
- Equifax
- Experian
- Clarity Services
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Bluechip Financial perform a hard credit pull?
Yes, Spotloan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are Spotloan Personal Loans legit?
Bluechip Financial was founded in 2012, it is a well-established company that has been in business for 14 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Spotloan Personal Loans 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 or next business day depending on the loan acceptance time. If customers accept their loan terms on a Monday through Friday, before 11:30 a.m. CT, Spotloan will transfer the money to their bank by no later than the end of the business day. If they accepted their loan terms on a Monday through Thursday between 11:30 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 11:30 a.m. CT through anytime on Sunday, Spotloan will transfer their money over the weekend and it will be waiting at their bank on the next business day.
SuperMoney Disclosure: SuperMoney.com 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
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
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +68, or 4.4 on a 5-point rating scale.
+68
-1000+100
No one recommends
Everyone recommends
Spotloan Personal Loans Community Reviews
Would you recommend Spotloan Personal Loans to your friends?
AS
Ahad S.
May 25, 2023
May or may not recommend
Yes i will recommend to my friends and relatives too
Nor M.
Jan 21, 2023
May or may not recommend
Spotloan is so great! I used this for over a month and it was so amazing, this company never fails to meet my standards. I recommend this company to everyone.
BB
Brandy B.
Jan 9, 2023
May or may not recommend
Fast easy application. Quick results.. highly recommended for building credit!!
TO
Taiwo O.
Nov 16, 2022
May or may not recommend
My family member have been using it, its cool. She has been using the money she borrowed from Spotloan to payoff her car loan and pay her bills. She has told me that she is very happy with the service they provide.
RA
Rita A.
Jun 1, 2022
May or may not recommend
I have been helped 2 times through this financial service and definitely recommended them to everyone! Make your payments when you are supposed to and everything will be fine! They are a wonderful service to people who really appreciate this service! You can be happy also knowing that having a loan through this company is contributing to a great cause!
Rita A.
U
Anonymous
May 2, 2022
May or may not recommend
Pretty awesome since I got approved very fast and they were very honest about how high the APR is. They gave me all the information before I even had to accept the loan including dates and amounts of monthly payments. $500 helps a lot and I am expecting the deposit within 24 hours. So that’s also a plus.
U
Anonymous
Apr 28, 2022
May or may not recommend
This should be a last resort if you are truly in an emergency e.g. need to fix your car to keep your job but don't have the cash to do so. Rates are very high. Try to get prequalified with other lenders first.
TB
Tabbitha B.
Mar 4, 2022
May or may not recommend
Spotloan Personal Loans annual percentage rates can be outrageously high depending on the individual looking at a loan. Do not waste your time with this company!
DC
Daniel C.
Feb 17, 2022
May or may not recommend
It's a cool concept that you can get up to $800 in the same day if you're in a bind, but with APR's up to 490% is scary. That $800 can multiply quickly in a bad way.
JE
Jason E.
Jan 21, 2022
May or may not recommend
I got a small loan due to covid from Spotloan. $300 will end up costing me $1,732.06. Spotloan should be put out of business.
RC
Ryan C.
Jan 5, 2022
May or may not recommend
I would recommend this for someone that needs a small load. My experience with this a few times was great. It is great when you need just a little about of money.
U
Anonymous
Oct 14, 2021
May or may not recommend
I have had two loans with Spotloan , they are your best option when other installment lenders deny you a loan. Their rates may be high, but they are upfront about that and you will know your rate prior to accepting the loan and can decline acceptance if you find the APR to be unacceptable. You will also know exactly when all your payments are due and the ...Show More
NK
Natasha K.
Sep 14, 2021
May or may not recommend
Do you need a personal loan? Maybe you're new to this whole loan thing. Well, I can tell you that Spotloan is the right place to go. They are very reliable and trustworthy.
TJ
Travis J.
Jul 23, 2021
May or may not recommend
Fair enough to get me out of a jam. They were real good about my payments.
Nikki B.
Jul 15, 2021
May or may not recommend
It was very easy to get the money needed and repay them. I've never had borrow a lot of money so Spotloan was a great place to give me just the extra nudge needed. I got great service and it was easy to use.
SC
Shoane C.
Jun 28, 2021
May or may not recommend
Spotloan Personal Loans is a better way to borrow extra money. It's not a payday loan. It's an installment loan, which means you pay down the balance with each on-time payment. I have tried this particular place twice and both times I had a wonderful experience, both times. Spotloan is an online loan company owned by BlueChip Financial, a tribal lender that offers short-term personal loans with fixed payments. They ...Show More
AW
Aven W.
Jun 21, 2021
May or may not recommend
Spotloan, like Better Day Loans, is an online “payday loan alternative” lender that claims tribal identity. They provide high-interest, short-term instalment loans. That is, unlike other payday lenders, they enable their customers to repay their loans in instalments over time rather than all at once in only a couple of weeks.
Spotloan makes a concerted effort to position itself as a superior alternative to other payday lenders. While it may be ...Show More
Shane T.
Jun 9, 2021
May or may not recommend
My experience with spot loan personal loans was a good one.
Spot Loan offers loans up to $800.
You can pick you monthly or every 2 weeks pay back method. .
If you need a personal loan up to $800 I would go to Spot Loan.
Spot Loan does have specific terms and conditions to qualify for a loan.
Spot Loan has awesome customer service you can Email, call or mail your questions and they ...Show More
Boris N.
Jun 5, 2021
May or may not recommend
This is perfect solution if you need quick cash urgently. It's easy to qualify
SH
Shadrack H.
Apr 24, 2021
May or may not recommend
Young company trying to grow and they are willing to help you, just give a call and they’ll start speaking real nicely to you, not trying to lock you in a deal with fat interest but help you conquer the idea you have.
Showing 20 of 25 reviews
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