With many financial agencies offering it, Payday loans are the most common option availed by people during times of sudden financial need. One such familiar payday loan platform is eLoanWarehouse where you can easily procure short-term loans up to $3000 with 400% – 500% APR for up to 9-12 months finance option. 

Due to such a high APR, many institutes adopt strict loan recovery methods. Sometimes, people fall prey to their dirty tactics without properly reading the terms & conditions and end up paying extra. 

The question is whether eLoanWarehouse is a suitable platform and provides a customer-friendly experience. Let us look into people’s experiences to see if Payday Loans eLoanWarehouse is a good fit.

What is eLoanWarehouse?

eLoanWarehouse Homepage

eLoanWarehouse was established in 2020 and is owned by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. 

Unlike traditional banks, these payday loans do not require a high credit score. So the claim process is simple, and you can easily obtain a loan of up to $3000 to meet your emergency needs. Borrowers are likely to pay around $100-$200 for interest repayment, which is quite high compared to commercial banks. 

The key feature of this platform is that there are no early payoff fees and the funds are transferred quickly to your bank account. Furthermore, eLoan Warehouse is well-known for providing loans with bare minimum requirements. 

How eLoanWarehouse Works?

Procuring a payday loan from eLoanwarehouse is quite easy compared to traditional banks. There is absolutely 0 paperwork requirement and your credit score won’t be relevant here. 

  • #Step. 1: First you are required to fill out an online form and mention all the mandatory details. 
  • #Step. 2: Then a customer care representative will contact you shortly and confirm all the details. The APR will also depend on the amount of loan you have applied for so don’t forget to confirm all the terms & conditions. 
  • #Step. 3: Once your loan is approved, you are required to e-sign the loan documents and the amount will take up to one business day to transfer to your bank account. If you wish to get the loan in cash then it will take more time.

Moving on, let’s discuss the requirements for taking a loan from eLoanWarehouse.

Requirements for Payday Loans from eLoan Warehouse

There are a certain number of criteria that you are required to fulfill to be eligible for the loan.

  • Checking Account and Source of Income: You are required to have an active checking account and a regular source of income. 
  • Legal Residence: The borrower should be a legal resident of the US and should be 18+ to apply for the loan. 
  • Clear Background History: If you are currently in debt, or, a state of bankruptcy, then you won’t be eligible for the loan. Also, army personnel or persons having active military family backgrounds won’t be eligible for the loan. 
  • Minimum Income Requirement: You are required to meet the minimum income requirement set by the eLoanWarehouse. If failed to do so, your request will get canceled.

The basic requirement to apply for a loan from eLoanWarehouse is just a few-step process. As opposed to applying through a traditional bank, where you must pass several requirements and have a high credit score. 

Customer Reviews of eLoanWarehouse

eLoanWarehouse is infamous for its customer reviews, which we have mentioned below. The Better Business Bureau (BBB) has given A+ ratings, but the average customer rating on the BBB website is 1/5. Let us go over the customer ratings and how they felt about their experiences. 

Review from Better Business Bureau
eLoan Warehouse Reviews from Better Business Bureau
Review from Better Business Bureauc
Review from Credit Karma
eLoan Personal Review from Credit Karma

The majority of online review platforms are filled with dissatisfied comments for eLoan Warehouse. Many customers have reviewed it with comments such as fraud, charging extra amounts, and lack of proper customer support. 

It has 2.1-star ratings out of 5 on the App Store and 3 stars on the Google Play Store. Platforms like TrustPilot have 2.1 start average ratings out of 5. So there is a lack of proper credibility in their service and it seems like eLoanwarehouse is more like a shark loan. 

Customer Care Information

The financial institution has a dedicated customer care support team, you can contact them through:

  • Email:  Customers@eLoanWarehouse.com
  • Loan Centre Number:  855-650-6641
    Consumer Hotline Number: 866-299-7585
  • Address: 13526 W Trepania Rd
    Hayward, WI 54843-2264
  • Fax: 715-255-4442

You can contact the customer support team with any questions you have about the platform, and they will assist you in every way.

Pros and Cons of Payday Loans eLoanWarehouse

As a rational consumer, it becomes important to consider both sides of the coin. Let’s analyze the pros and cons of taking loans from eLoanWarehouse.

Fast fundingHigh APR
Easy processShort repayment time
Minimal requirementThere is limited information on their website
Convenient way to access payday loanDebt trap
There are lots of negative reviews by customers.

Should You Consider eLoanWarehouse Payday Loan?

The most essential thing to keep in mind is that this institution is entirely owned and operated by tribal citizens under tribal law. Any kind of dispute will only be resolved in tribal court and as a sovereign institution, it cannot be sued in state court. 

You shouldn’t mistake this for the usual corporate sector that runs within the commercial law of the state. If you are uncomfortable with this fact, then we suggest you look for another alternative that is mentioned down below.

Leveraging the pros against the cons, we won’t recommend anyone to take a loan from eLoanWarehouse. For starters, there is no saying how high the APR can get. Seeing the multiple negative reviews on the internet surely works against the firm, which further makes us question the reliability of the platform. 

Below, we have mentioned some alternatives that you can choose instead of eLoanWarehouse. 

Best Alternatives to eLoanWarehouse

If you have an issue with such poor customer handling by the organization, you can opt for other payday loan websites mentioned below:

Minto Money Website

Minto Money reviews are quite positive and provide fast loan transfers just like eLoan Warehouse. You can borrow up to $2500 and $3000 for returning customers and APR is decided on loan amount. But make sure if borrow a loan from Minto Money pay the loan on time otherwise, there have been some cases where the firm has charged over 700% APR from the late payee.

Big Picture Loan Website

The most reputable payday loan institution is owned by Tribal Economic Development Holdings LLC. The institution offers flexible loan options ranging from $200 to $3500. The repayment option is available for 4 to 18 months

River Valley Loans Website

River Valley provides $3000 in immediate loans to borrowers. It has over 4.8-star ratings on Trustpilot, which is a testament to its dedicated and seamless loan settlement procedure. 

These are some well-known payday loan providers in the market, where you can easily procure small amounts of loans. While these companies’ terms and conditions and application process are fairly similar to eLoanWarehouse, their customer reviews are entirely different.

Also Read: How to Transfer Amazon Gift Card Balance? Everything You Need to Know

Who is the Right Candidate for Payday Loans eLoanWarehouse?

Quick, short-term loans could be really helpful during financial emergencies. But one should not ignore its high percentage rates, which can get you into a debt trap. If you wish to use their service, you are required to pay $100 to $200 monthly without fail. 

Payday loans eLoanWarehouse might be an effective option due to the fast transfer of funds. However, you will have to deal with their poor customer service, which can be extremely stressful. We have also encountered numerous technical difficulties when it comes to loan repayment. 

In conclusion, applying for short-term loans should be avoided. Most of these types of financial institutions try to rip their customers off by charging some sort of hidden fee or penalty. Always have an emergency fund on hand, avoid paying such high-interest rates, and use payday loans as a last resort.

Read Next: Open Inet Indiabulls Login: Step-by-step Guide to Login


Ans: Once your loan is approved, you’ll get your funds on the same day of approval.

Ans: No, it does not approve every loan, but their methods are more lenient than those of traditional banks.

Ans: Yes, eLoanWarehouse is a legitimate financing website, but it has received negative online reviews due to poor customer service, giving the impression that it is a scam.

Ans: No, you should be a US resident and 18+ to acquire a loan from the platform.



eLoanWarehouse About Us – eLoanWarehouse