Green Arrow loan review: An emergency loan with high interest rates

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In a Nutshell

Green Arrow Loans offers small personal loans in amounts up to $1,000 with very high interest rates. This lender may be worth considering only if you’re facing a financial emergency and have exhausted all other options.
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  • Small amounts available
  • May qualify with bad credit
  • Potentially fast funding time


  • Very high interest rates
  • Full range of interest rates not disclosed on website
  • Late fee

What you need to know about Green Arrow Loans

Green Arrow is a tribal lender owned and operated by the Big Valley Band of Pomo Indians. It offers small personal loans, with loan amounts ranging from $200 to $1,000. But the annual percentage rate, or APR, can be extremely high — even higher than the APR on a typical payday loan.

Because of the high interest rate, it’s best to pay a Green Arrow loan back as soon as possible to avoid accruing large interest payments.


How much do payday loans really cost?

Payday loans generally charge a percentage or dollar amount — $15 is common — per $100 borrowed, according to the Consumer Financial Protection Bureau. The fees on a typical payday loan can be so high that they add up to an APR of around 400% for a two-week loan. In an example provided by the CFPB, that means if you need to borrow $300, it would cost you $345 to pay it back, assuming a fee of $15 per $100.

Small amounts available

Similar to payday loans, Green Arrow specializes in small loans for people with bad credit. One benefit of a small loan is that you can borrow just what you need to tide you over during a financial emergency.

Green Arrow’s minimum loan amount is just $200. The maximum loan amount depends on whether you are a new or returning customer. If approved, first-time customers can borrow no more than $300. Returning customers can apply to borrow up to $1,000.

You may qualify with bad credit

Green Arrow says the company typically doesn’t do credit checks, so you may be able to qualify even with some serious dings in your credit history like charge-offs.

Very high interest rates

Green Arrow doesn’t put its full range of interest rates on its website. As of September 2022, its website listed an example of a $300 loan with a 779.99% APR that must be repaid in nine biweekly installments. Compared to the average APR on a two-year personal loan — or even the typical APR on a payday loan — Green Arrow loans have very high interest rates.

A closer look at a Green Arrow loan

If you’re thinking about applying for a Green Arrow loan, here are a few other details to consider.

  • Minimum monthly income: In order to qualify, you need to be employed and make at least $1,000 a month.
  • No prepayment penalty: If you want a shorter repayment term, you can pay off your financing early without any extra fee.
  • No credit reporting: Green Arrow doesn’t typically report payment history to the three major credit bureaus, so this loan likely won’t help you build credit.
  • Potentially fast funding time: If approved, your loan amount may be deposited into your bank account as soon as the next business day.
  • Late fee: If you can’t make your payment on time, there’s a late fee of $30.
  • No loan extension or rollover: Unlike some payday lenders, Green Arrow doesn’t permit loan extensions, renewals or rollovers.
  • Not available in all states: Green Arrow doesn’t offer loans in all states and says the states where it offers loans can change frequently. As of September 2022, Green Arrow doesn’t offer loans in Arkansas, Colorado, Connecticut, Georgia, Maryland, Minnesota, Montana, New Hampshire, New York, North Carolina, Pennsylvania, Puerto Rico, Virginia, Vermont, Washington or West Virginia.

Who a Green Arrow loan is good for

If you need money for an emergency cost like a car repair and have exhausted other options like using an existing credit card or taking out a lower-interest loan, a Green Arrow loan may be a way to fill the gap.

But with its high interest rates, Green Arrow should not be used for long-term borrowing. Try to pay off your loan early to save on interest payments.

If you’d like to build credit, a Green Arrow loan won’t likely help since Green Arrow says it doesn’t typically report your payments to the three major consumer credit bureaus.

How to apply with Green Arrow

If you want to apply for a Green Arrow loan, you can get started with an online application on its website. The application process should take less than five minutes if you have your personal info handy.

Be prepared to provide the following on your online loan application:

  • Requested loan amount
  • Full name and address
  • Social Security number
  • Phone number
  • Date of birth
  • Email address
  • Identification verification
  • Employer information and monthly income
  • Bank account information

Not sure if a Green Arrow loan is right for you? Consider these alternatives.

  • Rocket Loans: If you need a larger loan amount, you might want to consider borrowing from Rocket Loans.
  • NetCredit personal loan: If you’re working to build your credit, a NetCredit personal loan may be right for you since it reports to the credit bureaus.

About the author: Ryan Mei is passionate about data analytics and personal finance. He graduated from Dartmouth College with a degree in economics. Ryan owns and writes a personal finance blog at to share his jour… Read more.