Plain Green — a lending that is online owned because of the Chippewa Cree Tribe for the Rocky Boy’s Indian Reservation in Montana — markets itself as a supply for “emergency money financing. ” Its site that is online remained procedure at the beginning of July.
Plain Green isn’t a lender that is licensed their state of Michigan, in accordance with the Michigan Department of Insurance and Financial Services. But it’s not essential become certified because it’s a tribally owned firm.
In 2018, about 45,000 installment loans had been created by licensed loan providers in Michigan for a complete of $699 million, with a loan that is average of approximately $15,500. This quantity represents loan volume from Consumer Finance licensees; it doesn’t add loans produced by banking institutions or credit unions. (more…)