Plain Green Loans Review: Fast Money, Even With Bad Credit — But You’ll Pay for Convenience

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Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

plain green loans

Car repairs, urgent care visits, a leaky roof — unexpected situations such as these can create financial emergencies if you don’t have the money you need in the bank. All too often, these emergencies hit at the worst times, and you might find yourself needing extra cash quickly.

If you find yourself in this situation, Plain Green loans could be the answer you’re looking for.

Plain Green allows first-time borrowers to obtain loans up to $1,000. Repeat customers can borrow up to $3,000. You can get approved even with bad credit or no credit, and you could receive the money as early as the next business day after applying. This can be a welcome relief if you need money now.

Unfortunately, you pay for this convenience. Interest rates on loans from Plain Green are high, which means paying back your debt could cost you a lot of money. Before you decide that borrowing from Plain Green is right for you, be sure to explore all your options to make sure this source of funding is really the best one.

Plain Green loans review

Plain Green’s biggest selling point is convenience. You can apply online and get approved for a loan in seconds, and a low credit score won’t disqualify you. You’ll be told how much you can borrow and, if you apply before 6:00 p.m. ET, you’ll have the money the next business day after requesting a loan.

You’ll also benefit from flexible repayment options. You could pay off your loan all at once or make biweekly, monthly, or semi-monthly payments. There’s no prepayment penalty and loan repayment periods vary based on the amount borrowed. Plain Green also reports your payment history to “a major credit bureau,” so you could build credit by making on-time payments.

Plain Green promises there are no hidden fees. But interest rates could be up to 400% or higher, as of April 26, 2018. Visit the lender’s website to view the most up-to-date loan rates and terms.

Because of the astronomical cost of Plain Green loans, they should be a last resort. Review other funding options before committing to a loan with high interest rates.

Plain Green products

Plain Green offers one product: an installment loan with a maximum borrowing limit of $3,000 and a repayment period between 10 and 26 months.

These loans are not payday loans because you can take more than two years to repay them. However, Plain Green does indicate that it’ll link payment due dates to pay dates.

There’s one potential benefit to Plain Green loans: You can borrow smaller amounts of money than you could from many other personal loan lenders. If you only need a few hundred dollars, you can. Repayment terms as short as 10 months could also be a benefit.

However, because interest rates are so much higher than with other lenders, your loan will be harder to repay. When you borrow from Plain Green, you’re paying a premium for the convenience of instant approval, fast funding, and easy eligibility requirements.

Plain Green might not be the most affordable choice if you’re looking for a fast loan without good credit. Other options, such as these five ways to access quick cash, could be safer and less expensive.

Using the Plain Green online platform

The Plain Green online platform is simple and easy to use. Click on the big “Apply Now” button on the main page of the site. You’ll be able to enter in information to get your application underway. This includes your name, address, email, and Social Security number.

You’ll be required to provide bank account information and details about your sources of income. When you submit your application, you’ll receive a decision in seconds with how much you can borrow and the loan terms. You can move forward with the loan process if you’re happy with the terms.

Though Plain Green makes applying easy, finding the information you’re looking for on its site isn’t always simple. There’s an FAQ page where you can get basic questions about eligibility requirements and repayment answered. But when you try to find out how much your loan will cost, you’re referred to the Loan Cost & Terms page.

On this page, you won’t find details about specific fees, nor is there a range of interest rates listed. Instead, there’s a calculator to input different loan amounts and payment terms to see what the interest rate for that particular loan would be.

Use the calculator to find out how much you’ll pay so you can make an informed choice about whether the interest is reasonable and the payments affordable.

Plain Green loans calculator

Image credit: Plain Green

Plain Green interest rates and fees

The biggest downside of Plain Green is the interest you’ll pay. The total cost of your loan is based on how much you’re borrowing and your payment history.

However, the example they provide shows just how high that cost can be. For a $700 loan with 24 biweekly payments, Plain Green indicated you would be charged an APR of 413.00%. That’s more than 25 times the average credit card interest rate of 16.35% in early 2018.

Plain Green also indicated that if you pay late, you miss a payment, or a payment is returned, you’ll be charged additional fees. However, it doesn’t disclose what those fees are.

Plain Green eligibility requirements

The eligibility requirements for Plain Green loans are easy to meet. You must:

  • Be 18 or older
  • Have a job or other proven source of income
  • Have an email address
  • Own a valid checking account that’s active
  • Reside in a state where Plain Green offers loans

In most cases, approval is instant when you apply online. Plain Green might ask for additional information in certain cases, however, such as proof of income.

Plain Green customer service

Plain Green has a Better Business Bureau rating of B-minus. Most of the complaints about the lender come from borrowers dissatisfied with the high costs of their loans.

“This is a predatory loan company — stay away!” wrote one borrower in March 2018. “You will never pay off your loan. Never. I’ve been paying on a $500 dollar loan for 3 months and I still owe $475! How is this legal?”

However, not all customers have had poor experiences with Plain Green.

“My experiences with Plain Green were always positive. I have dealt with them numerous times and have not had any negative or bad experiences; as they disclose everything up front and you choose to accept. Rates are very high, but if you are strapped for cash this is the place to go,” said a customer in August 2017.

If you’re interested in borrowing from Plain Green, you can reach the lender via phone at 866-420-7157. Hours of operation for customer service are Monday to Friday 8 a.m. to 10 p.m. ET and Saturday 9 a.m to 5 p.m. ET.

Note: Student Loan Hero has independently collected the above information related to Plain Green loans. Plain Green has neither provided nor reviewed the information shared in this article.

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal Loans: Fixed rates from 5.950% APR to 14.740% APR (with AutoPay). Variable rates from 5.825% APR to 14.365% APR (with AutoPay). SoFi rate ranges are current as of May 18, 2018, and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.825% APR assumes current 1-month LIBOR rate of 1.90% plus 4.175% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 4.99% – 16.24% (4.99% – 16.24% APR) based on applicable terms. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

* Important Disclosures for Upgrade Bank


Upgrade Bank Disclosures


  • Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.
  • Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

7.73% - 29.99%$1,000 - $50,000
Check rate nowon SLH's secure site
5.83% - 14.74%1$5,000 - $100,000
Check rate nowon SLH's secure site
5.96% - 35.97%*$1,000 - $50,000Visit Upgrade
8.00% - 25.00%$5,000 - $35,000
Check rate nowon SLH's secure site
4.99% - 29.99%$10,000 - $35,000Visit FreedomPlus
4.99% - 16.24%2$5,000 - $50,000Visit Citizens
15.49% - 34.49%$2,000 - $25,000Visit LendingPoint
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.49% - 18.24%$5,000 - $75,000Visit Earnest
9.95% - 35.99%$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.