loans like crane finance

Crane Finance is an online lender that offers installment loans. Many people turn to loan options when they need some extra funds. In fact, by the end of 2022, American household debt hit a record $16.9 trillion.1 

Personal loans are some of the most common types of loans out there and an option that many people go with. Personal loans may also be referred to as installment loans when they are repaid in equal monthly payments. Crane Finance is just one of the many online lenders that you may be able to turn to. Considering this lender or a personal loan? Below, you will find everything you need to know about Crane Finance and personal loan options so you can make an informed lending decision. 

Finding the Right Personal Loan

Many people turn to personal loans, such as loans like Simple Fast Loans, when they need extra cash for an emergency for several reasons; here are some qualities of personal loans that make them a popular choice for funding:

  • They may be used for all kinds of expenses in most cases.
  • They can be available in several different amounts. 
  • With the right lender, bad credit may be okay.
  • Funding can be fast; sometimes, same-day funding may be available. 
  • These loans can be a good alternative to other quick cash loans, such as payday loans.
  • Don’t always require collateral, which can be extremely convenient for those who don’t have it. 

What Should I Pay Attention to When Looking at Installment Loans Such as Personal Loans

There are a few different things that you should consider when looking for a personal loan, other kinds of installment loans, or any other loan option. Here are some key factors to consider:

The Repayment Terms 

The repayment term for a loan is how much time you will have to pay it back. When working with most personal loans, you’ll likely find a range of repayment terms. Generally, loans fall into 2 categories with repayment: 

  • Short-term loans — Short-term loans are usually repaid in a year or less.
  • Long-term loans — Long-term loans are usually repaid in a few years. 

Why is this important? Well, how long or how short repayment is will impact how much interest you pay over time and the monthly payment amount on your loan. For example, when borrowing the same amount of funds with the same interest and APR, a longer repayment term will mean a lower monthly payment but higher interest over time. In comparison, a lower repayment term will mean a higher monthly payment each month but less interest paid overtime. And so, definitely think about what works best for you before choosing a loan! 

Repayment terms also include things like early repayment penalties, late payment policies, default terms, and balloon payments. 

The Interest Rate and Interest Type of the Loan

Interest is so incredibly important when you are filtering through loan choices. Generally, the better your credit, the better interest rate you may get with a loan, and vice versa. And so, if you are going into loan applications with bad credit, you should be prepared to get lower interest rates. 

Another thing to think about is the type of interest rate you want with your loan. There are fixed-interest loans where interest stays the same throughout repayment. In contrast, variable interest rates can change throughout repayment. Fixed interest works well for those who want a predictable repayment schedule, while variable interest may work well for those who don’t mind the risk of higher interest rates if it could mean saving on interest as well, and so have more room in their budget

The Loan Amount 

Your loan amount with a personal loan, should cover all of the amount of expense, ideally. The last thing you may want to do is take out two or multiple loans and juggle paying them back. If you need a larger loan amount that you cannot qualify for on your own, a cosigner may be an option. 

The Lender You Are Considering

The lender for your loan is pretty important to consider. Your repayment experience will largely be based on the lender; for example, some lenders may be more flexible than others when it comes to grace periods, which can be a huge help if you miss a payment date. Another example is with ease of payments; some lenders offer the ability to make online payments, while others may not—which can be pretty inconvenient for some people. A final example is that not all lenders report to each of the major credit bureaus, which, if you are working on your credit, can be So, definitely consider that before choosing a lender. 

The APR (The Total Cost of the Loan)

APR, the annual percentage rate, is the total cost of a loan. It will include interest rates, any fees, and any other costs so pay close attention to this factor before deciding on a loan option for your needs. 

Whether the Loan Is Secured or Unsecured

Some loans are secured, which means that they involve collateral, while other loans have unsecured loans, which do not require collateral. Secured loans may make it easier for you to get funding with a bad score, but that is not always the case. Additionally, some secured options, like title loans, can be very expensive. Unsecured loans tend to be faster and, in some cases, harder to qualify for. And so, definitely keep that in mind. In most cases, personal loans are usually unsecured. 

Now that you know more about finding the right personal loan, you can effectively filter through options.

Loans Like Crane Finance: What You Need To Know

Crane Finance is an online lender that offers installment loans. Crane Finance is a tribal lender, which means that it is owned and operated by a Native American tribe. Tribal lenders work a little differently than standard lenders, as they don’t have to follow certain laws and regulations. And so, it is extra important to pay attention to the loan and loan terms before you decide on moving forward with a tribal lender.

How Do Loans With Crane Finance Work?

Loans from Crane Finance range between $100.00 and $15,000; however, for first-time borrowers, that maximum is reduced to $600. Their loans are unsecured installment loans. 

Crane Finance loans are meant to be used for emergencies, and the process and loan amounts reflect that. For those looking for same-day funding, Crane Finance may be able to offer that; however, there will be an additional fee for same-day funding. 

Borrowers with bad credit can still get an installment loan with Crane Finance, as they will focus more on your ability to repay the loan. 

Here are the requirements that Crane Finance will ask for applicants will need:

Proof of IncomeMust provide documentation for income covering the past 90 days.
Age RequirementApplicants must be at least 18 years old.
Bank AccountA valid checking account in the applicant’s name is required.
Email AddressA valid email address is necessary for communication and document exchange.
Phone NumbersValid home and work phone numbers must be provided for contact purposes.

What Can I Expect With Repayment?

Repayment with Crane Finance will mean scheduled days for repayment, which you should get notified of with your loan agreement. You have the option to set up reminders for your due dates via email. Payments with Crane Finance can be made via your checking account. If you make a late payment that is late for more than 10 days, then there will be a $20.00 fee. If you have insufficient funds in your account, you will be charged an NSF fee of $30.00. 

How Does the Application Process Work?

Here is what you can expect with the loan process:

  1. Apply for a loan online — You’ll have to start by filling out a loan application. You’ll have to create an online account with them.
  1. Verify your information — A part of finishing your application is verifying your information, which you can do through their online portal with your online account. 
  1. Go over and sign the loan agreement — You’ll have to then go over the loan agreement, and if everything looks good, then you’ll have to sign. 
  1. Receive your funds — Once you sign, you’ll get your funds, and the funds can be sent to your bank account.


How do personal loans compare to payday loans in terms of eligibility criteria?

Unlike payday loans, which often require minimal credit checks, personal loans typically have more stringent eligibility criteria. These include a minimum credit score, stable income, and employment verification. Personal loans, especially from lenders like Crane Finance, may offer more affordable monthly payments compared to the high fees associated with payday loans.

What are the differences in credit reporting between tribal lenders like Crane Finance and traditional payday lenders?

Tribal lenders like Crane Finance may report repayment activity to the three major credit bureaus (Equifax, Experian, and TransUnion), which can help build your credit history. In contrast, many payday lenders do not report to these credit bureaus, so using payday loans won’t typically improve your credit score.

Can refinancing installment loans improve my credit history?

Refinancing installment loans can positively impact your credit history if it leads to more consistent and affordable monthly payments. Timely repayment of the new loan is reported to the credit bureaus, potentially improving your credit score. However, it’s important to consider any refinancing fees and ensure the overall loan cost doesn’t increase significantly.

What happens to my credit history if I default on a loan from installment loan lenders like Crane Finance?

Defaulting on an installment loan can significantly damage your credit history. Lenders report missed payments and defaults to the credit bureaus, which can lower your credit score. This is in contrast to some payday lenders, who might not report defaults but could engage in aggressive collection practices.

How does bad credit affect the interest rates and terms of installment loans compared to payday loans?

Bad credit typically results in higher interest rates and stricter terms for installment loans. However, these loans usually offer more affordable monthly payments and longer repayment periods than payday loans. Payday lenders often provide loans to individuals with bad credit but at much higher interest rates and with shorter repayment terms.

Are there restrictions on using installment loan funds compared to payday loan funds?

Installment loans are generally more flexible and can be used for a variety of purposes, unlike payday loans, which are often used for immediate, short-term needs. Some installment loan lenders may restrict the use of funds for certain activities, but these restrictions are usually less stringent than those of payday lenders.

How do fees for installment loans differ from those of payday loans, and how do they impact affordable monthly payments?

Installment loans may include fees like origination and late payment fees, but these are typically lower than the fees associated with payday loans. The structure of installment loans promotes more affordable monthly payments, whereas payday loans can have high fees that significantly increase the total repayment amount. It’s crucial to understand all fees involved to ensure the loan remains affordable.

CreditNinja: How does it compare?

CreditNinja is also an online lender; however, unlike Crane Finance, we are not a tribal lender. CreditNinja has been helping people find financial solutions since 2018, and so far, it has helped thousands of borrowers, even those who don’t have the best credit. Our loans are an alternative to payday loan options—which are extremely challenging to pay back. 

What Does CreditNinja’s Application Process Look Like?

The application process with CreditNinja is extremely simple; it involves a few steps:

  1. Head to our website and fill out an application — The first step involves starting your application; you can do this through your smartphone or on a desktop/laptop. Here, we will ask for some information about you and your finances. 
  1. Complete your application — Our application will require bank verification; bank verification is the primary avenue that allows us to focus on other financial indicators aside from credit scores.  
  1. Find out about approval — Once you submit your application, we will let you know about approval. Here, you will learn more about your potential loan amount, interest rate, APR, and repayment terms.
  1. Review the loan agreement and sign — You will then have to review the loan contract, and if things look good, all there is left to do is sign. 
  1. Get your approved funds — Once you sign, you’ll be able to get the funds sent straight to a bank account. You may be able to get same-day funding with us, depending on when you apply.*

What Are Some Benefits of Working with CreditNinja for an Installment Loan?

There are several benefits that you can look forward to when working with CreditNinja; here are some benefits: 

  • Fast Funding Once Approved — As mentioned above, once approved for an installment loan with CreditNinja, the funds may be available as soon as the same business day!* This can be extremely helpful if you need emergency cash.
  • A Convenient Online Process — Everything about CreditNinja can be completed online without ever having to leave the comfort of your home. 
  • Predictable Repayment — Repayment with our installment loans comes with fixed monthly payments, which can be extremely helpful for those on a tight budget. 
  • Competitive Interest Rates — Interest rates with CreditNinja are competitive!
  • Excellent Customer Service — From beginning to end, our customer service 

representatives are here to help you with any questions you may have. You can also contact them at any point during repayment. 

Getting started with CreditNinja is simple: head to our website and begin an application; it only takes a few minutes, and you’ll find out whether you can move forward with funding. 


  1. Debt In America: Statistics and Demographics |
  2. Website | Crane Finance

*Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications approved before 10:30 a.m. CT Monday – Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day. Some applications may require additional verification, in which case, the loan if approved, will be funded the business day after such additional verification is completed.

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