Table of Contents Show
- A Brief Profile Of Redwood Coast Finance
- Should You Borrow From Redwood Coast Finance?
- Utilizing Redwood Coast Finance Loans
- What is the Cost of Loans from Redwood Coast Finance?
- How To Get Loans From Redwood Coast Finance
- What if I have bad or no credit?
- Can I get a loan from Redwood Coast Finance if I am a member of the military?
- How is a Redwood Coast Finance loan different from other types of loans?
- Why do you need my bank account information?
- What is the APR on the loan?
Accessing loans comes with a whole lot of questions. The most prominent question is where to obtain the loan from. Redwood Coast Finance has come up on the list of the most reliable loan outlets in the United States.
As a financial service firm, Redwood Coast finance places its core focus on discipline as well as patience.
Judging by their activities over time, it becomes suitable to say that they have stayed true to their focus.
Redwood coast finance mainly invests in what we call “perpetual capital.”
This simply implies that funds usually compound over a period of time.
The speed at which they give you access to a loan at Redwood Coast Finance is dependent on some factors. We will discuss those factors in a later paragraph.
Some loans can be approved in minutes, but this aligns with how much you satisfy their fast loan prerequisite.
Before we answer the question, “should you borrow from Redwood Coast Finance?”.
I think it’s best you answer an important pertinent question yourself “why do I need a loan in the first place?”.
According to Average American Debt 2020, 80% of Americans, that is 8 in every 10, are in debt. Read more on American Debt Statistics.
Every loan, as you know, comes with its own risks, so my best advice is that in as much as you consider taking a loan, make certain it is your last resort.
A Brief Profile Of Redwood Coast Finance
Redwood Coast Finance is an establishment entirely belonging to the Kashia Band of Pomo Indians of the Stewarts Point Rancheria, which is a sovereign Indian nation domiciled in the United States.
As the laws of the tribes reflect, the financial firm Redwood Coast finance strictly follows the principles of Federal Consumer Finance Laws.
For every transaction that one carries out on their site, they assume that such transaction takes place within the Kashia Band of Pomo Indians Jurisdiction.
This is regardless of your location at the time of the transaction. They operate both digitally and traditionally.
According to their company policies, you will certainly not get loans if you are below 18 years or you reside in any of the cities below.
Virginia, Arizona, Connecticut, Georgia, Minnesota, South Dakota, New York, New Mexico, Utah, North Carolina, Vermont, and West Virginia.
Should You Borrow From Redwood Coast Finance?
As I stated in the introduction, you must make certain that you need a loan before you start making inquiries about where to access it from. At all times, make taking loans your last resort.
If you have the guarantee that a loan is what you need, then I will comfortably tell you that Redwood finance is legit.
Their platform allows you to get loans comfortably without stress and collateral.
Another quality that makes Redwood Coast Finance unique is its extended loan repayment time.
They give you about 6 months, and you don’t pay all at once. Secondly, there is no penalty per se for late payment.
One of their customers wrote,
“Redwood funding is such a lifesaver. They provided what was needed and explained the process very professionally. I was amazed at how quickly the fund was sent after I provided, signed, and notarized the agreement. Thank you for your prompt help.”
Much being said, I still insist that you take a very small loan. Don’t ever take more than what can solve the pressing need. Loan-taking is never an investment.
Utilizing Redwood Coast Finance Loans
Redwood Coast Finance plainly stated that their loans should only be used for short-term financial solutions.
Due to the nature of their institution, their loans are not for long-term financial programs.
There are alternative loan approaches if your need falls into the category of long-term financial solutions loans.
Such alternative sources can be; asking from friends and relatives, credit cash advances, existing savings, personal loans, home equality lines of credit, and so on.
If you must borrow from Redwood Coast finance, then it must be for emergency needs or at least near emergencies.
Their loans can cover trifle things like car repairs, family travel expenses, job travel expenses, and other unexpected but tiny bills.
The Santa Rosa Stationed firm Redwood Coast Finance does not offer payday loans. That is, you won’t pay back your loan in full on the next pay date. Rather, they spread out their loan payments over six months.
You strictly pay in installments. Regardless, it is to your advantage that you pay off quickly, as this saves you on interest rates.
What is the Cost of Loans from Redwood Coast Finance?
Redwood Coast Finance offers loans within the amount range of $1 and $1,000. Maximum of $500 for first-time users.
The total cost of every loan is different. They charge you based on; how credit-worthy you are, their proprietary scoring method, the amount you are willing to borrow, and how long you want to keep the loan outstanding.
In paying back quickly, you get the best rate. Their loans appear to be more costly the longer it remains unpaid. Request a loan amount in dollars that you can repay quickly.
Their proprietary scoring method is a key determinant of your loan cost. In this technique, they put things into consideration, such as.
- Your credit history: This is important to them because it proves how attractive you are as a potential borrower.
- If you accept payment reminders: Most people are averse to payment reminders as they see them as a form of disturbance. So your ability to approve credit reminders may give you a better score.
- Your consistency in repaying open-end loans like credit cards or lines of credit.
You don’t have to worry about the exact amount of your finance charge.
Redwood Coast Finance shows you your finance charge and your Annual Percentage Rate (APR) in your loan agreement.
How To Get Loans From Redwood Coast Finance
Accessing loans from the firm is not a complex task. You can do it online, or you can visit them at their company address.
Accessing them digitally is the best way to get the loans because if approved, you will get the money in just a little less than seven minutes.
Here are the few things you will require for online loan access:
- A contact number they can reach you with. Be sure you have the number switched on at the point of loan application because they will call to verify the number.
- Your Checking Account and Routing (ABA) Number.
- Your most recent pay stub or you may choose to complete their electronic bank verification via an email from Decision Logic.
Once you are done with the application, the following steps follow:
#1 Step: Approval Reply
Redwood Coast Finance gives you an instant reply to inform you if your loan has been pre-approved or not. The reply also tells you the credit amount available to you.
#2 Step: Application Verification
In the application verification process, you have to review and sign your loan agreement. You also need to verify your primary phone number by answering their call.
#3 Step: Reception of Fund
The next thing that follows is that the fund enters your account. Sometimes you get the fund instantly, other times; it takes hours, and there are cases where you will get it after 24 hours.
If it delays more than it should, you have the right to contact their Customer Support Team.
What if I have bad or no credit?
You might be able to get a loan with Redwood Coast Finance even if you have poor credit or no credit at all.
Simply complete the online application form to determine whether you are eligible.
Can I get a loan from Redwood Coast Finance if I am a member of the military?
A loan from Redwood Coast Finance is not available to members of the armed forces or their dependents.
How is a Redwood Coast Finance loan different from other types of loans?
Redwood Coast Finance loans, also referred to as personal loans or installment loans, are a means for consumers to get quick access to a relatively small amount of money at a time to help with short-term needs.
The approval procedure is shorter, and the loan amount is often between $300 and $1,000 less than a regular bank loan. The entire process is handled online and over the phone.
Why do you need my bank account information?
Redwood Coast Finance requires your banking information in order to deposit your funds directly into your account as soon as the next business day through Automatic Clearing House (ACH).
What is the APR on the loan?
The annual percentage rate (APR) varies depending on the terms of your loan as well as your payment history.
It is important to note that these loans are not intended to be used as a long-term financial solution or to supplement limited income.
These loans can offer emergency relief if you are short on money and need funds to cover an urgent expense.
Borrowing from Redwood Coast Finance is very easy and fast. You can access their loans digitally, or you go to their address at Redwood Coast Finance, PO Box 11422, Santa Rosa, CA 95406.
If you need further information regarding their services, you can call their official number @ (800) 585-1187.