Spotloan Personal Loans
Spotloan Personal Loans
in Personal Loans from Bluechip Financial

Spotloan Personal Loans

in Personal Loans from Bluechip Financial
SuperMoney Net Recommendation Score +68  


This product is strongly recommended by SuperMoney users with a score of +68, equating to 4.4 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

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Community Rating Strongly recommended
APR  (Fixed APR) Up to 490%
(Verified 08/04/2023)
Loan Amount $300 - $800
Loan Term (Months) Up to 10 months
Number of Reviews 25

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 across the USA.

Key Takeaways

  • Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
  • 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. Missing a payment can seriously damage your credit, but Spotloan Personal Loans will not charge additional fees if you miss the due date on a payment.
  • Minimum income of $12,000. You will need an annual income of at least $12,000 to apply for Spotloan Personal Loans, which is below average for the lenders in our database

Spotloan Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Funding available within 1 business day.
  • APRs as high as 490%.
  • Short loan terms (maximum of 10 months).
  • Small loan amounts (maximum of $800).
  • Does 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?

Personal loan amounts start at $300and 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 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, 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 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.

To qualify for personal loans with Spotloan Personal Loans, applicants need a minimum annual income of $12,000 or higher. Spotloan Personal Loans 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 Personal Loans 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 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
Spotloan Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
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 Personal Loans report your account activity to credit bureaus?

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

  • 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 improve your credit.

Are Spotloan Personal Loans legit?

Bluechip Financial was founded in 2012, it is a well-established company with approximately 57 employees that has been in business for 11 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: 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 Personal Loans


  Available in 39 states
  • Alabama
  • Alaska
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Massachusetts
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Late Fees
No Origination Fee
No Prepayment Fee
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
  • Other
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Annual Income $12,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Cash
  • 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
Payment Options
  • Automatic Payments
  • Bank Transfer
APR Type Fixed APR
Loan Amount $300 - $800
APR (Fixed APR) Up to 490%
(Verified 08/04/2023)
Loan Term Up to 10 months

Spotloan Personal Loans Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +68, equating to 4.4 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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