ELoan Warehouse: An Overview of the Short-Term, $300-$2,500 Loans

Can this loan be used for debt consolidation? No, this loan cannot be used for credit card debt consolidation or other loan consolidation purposes. The lender associated with this loan provides a very high interest rate, making it an unfavorable choice for credit card debt consolidation or other types of loan consolidation. It is recommended to explore alternative options that offer lower interest rates and better terms for debt consolidation.

In the fast-paced world of short-term, high-interest loans, one company that has recently undergone a significant transition is Blue Trust Loans. Formerly known as Blue Trust, this lender is now making its way into the industry under a new name, eLoan Warehouse. In this article, we will delve into the details surrounding this transition and shed light on what potential borrowers should know before considering a loan from this particular lender.

The Transition: Blue Trust Loans Becomes eLoan Warehouse

Blue Trust Loans has recently undergone a rebranding effort and is now operating under the name eLoan Warehouse. The exact implications of this transition are not explicitly outlined, as the available information is limited. However, both Blue Trust Loans and eLoan Warehouse fall under the umbrella of LCO Financial Services, providing financial services to borrowers.

eLoan Warehouse: A Legitimate Lender

To address one of the frequently asked questions, eLoan Warehouse is indeed a legitimate lending institution. As stated on its website:

“This site is owned and operated by Lac Courte Oreilles Financial Services II, LLC. Our management team has over 20 years of experience in online lending, and we are members of the Online Lenders Alliance (OLA), which supports the review and establishment of best practice standards in this industry.”

Sovereign Enterprise: Understanding the Tribal Lender Concept

eLoan Warehouse operates as a sovereign enterprise, which means that when you borrow from them, you are engaging in a transaction with a tribal lender. In this case, eLoan Warehouse is associated with the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. As a result, they are not bound by state laws, including those that regulate interest rates.

Loan Qualifications and Application Process

eLoan Warehouse prides itself on offering a quick and easy application process, making it accessible for borrowers in need of urgent funds. Some of the qualifications to be eligible for a loan include:

  • A verifiable source of direct deposit income
  • An open checking account meeting the “bank account minimum opened duration” requirements
  • Being at least 18 years old and a resident of the United States
  • Meeting the minimum income requirements
  • Not being a debtor in an ongoing bankruptcy case or having imminent plans to file for bankruptcy
  • Not being a member of the military or having a family member currently serving

Online Reputation and Reviews

It’s crucial to consider the online reputation of any lending institution before engaging in a financial relationship. In the case of eLoan Warehouse (previously Blue Trust Loans), there are various sources of information to explore.

Better Business Bureau (BBB) Rating

According to the Better Business Bureau, eLoan Warehouse has received an A- rating for its customer service. However, since the company is relatively new, there is limited feedback available. Currently, the company has an average rating of 1.2 stars out of five. It’s important to note that there have been some complaints related to loan repayment issues.

Legal Actions Against Blue Trust Loans

It’s worth mentioning that Blue Trust Loans faced legal action in the past, which may have influenced their decision to transition into eLoan Warehouse. Underwood & Riemer, P.C. and the Gregory Law Firm, P.C. pursued a lawsuit in 2019, accusing Blue Trust Loans of violating lending laws while taking advantage of tribal immunity. They argued that the lender’s association with the Chippewa Indian tribe did not provide sufficient grounds for operating under tribal immunity.

Pros and Cons of eLoan Warehouse

As with any lending institution, it’s crucial to consider the advantages and disadvantages before committing to a loan. Here are some of the pros and cons associated with eLoan Warehouse:


  • Small principal loan amounts suitable for short-term financial needs range from $300-$2,500.
  • Relaxed qualification requirements, allowing borrowers with poor credit to secure funding
  • Quick online application process, typically taking only a few minutes to complete
  • Fast turnaround time, often providing funds within as little as a day


  • High interest rates compared to other borrowing options, making repayment challenging
  • The potential for additional fees due to difficulties in repaying the loan
  • Limited legal recourse for borrowers, as tribal immunity protects the lender from certain legal actions

Credit Score and Interest Rates

One of the significant advantages of eLoan Warehouse is that they do not emphasize credit scores when evaluating loan applications. This is beneficial for individuals with less-than-ideal credit histories who have faced rejection from traditional lenders. However, it’s important to note that the lender does not disclose specific interest rates on their website.

Repayment Terms and Options

eLoan Warehouse offers a tiered plan that incentivizes repeat borrowers, but specific details regarding repayment terms are not readily available. Borrowers should carefully review the terms and conditions provided by the lender to ensure they understand the repayment schedule and any associated fees.

How to Apply for a Loan

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To apply for a loan with eLoan Warehouse, interested individuals can visit their website and complete the online application. The process typically involves providing personal and financial information, as well as verifying eligibility based on the criteria outlined earlier. It’s important to review the loan terms, interest rates, and repayment options before accepting any offers.

Additional Considerations

Before committing to a loan from eLoan Warehouse (formerly Blue Trust Loans), potential borrowers should consider the following:

  • To apply for a loan with eLoanWarehouse, you must be at least 18 years old.
  • eLoanWarehouse is a lender that evaluates various factors, including income and your state of residence, to determine loan eligibility.
  • The website is free to use, but not all applicants will qualify for a loan.
  • Active Duty Military, their spouses, and dependents are not eligible for loans from eLoanWarehouse.
  • The Tribe does not conduct business in New York, Pennsylvania, Virginia, and Connecticut. Availability of installment loans can change at the Tribe’s discretion.
  • Non-payment or late payment of the loan will result in additional fees and penalties, as outlined in the Loan Agreement.
  • Installment loans from eLoanWarehouse have set payment schedules, but you can pay off the loan early without penalty.
  • The lender may use third-party credit reporting agencies to evaluate your information, but they may not use major credit bureaus like Experian, TransUnion, or Equifax.
  • Your credit report may or may not be impacted depending on the credit information repository used by the lender. Monitor your credit score using various credit monitoring services.
  • Responsible borrowing is encouraged, and you should carefully review your loan documents before agreeing to the terms.
  • eLoanWarehouse is owned and operated by Lac Courte Oreilles Financial Services II, LLC, with over 20 years of experience in online lending.
  • They are members of the Online Lenders Alliance (OLA) and adhere to their Responsible Lending Policy.
  • You can contact eLoanWarehouse via email at Customers@eLoanWarehouse.com or by calling their loan center at 855-650-6641.
  • OLA’s consumer hotline is 866-299-7585.
  • Explore alternative lending options that may offer more favorable interest rates and repayment terms.
  • Seek credit counseling services to gain a better understanding of personal finance management and explore other potential solutions.
  • Remember that taking on debt should be a last resort, and individuals should strive to build financial stability by increasing income and reducing expenses.


In conclusion, the transition of Blue Trust Loans to eLoan Warehouse brings about a shift in the short-term, high-interest loan industry. While eLoan Warehouse provides accessible funding options for individuals with poor credit, it is essential to consider the high interest rates and limited legal recourse associated with tribal lenders. Borrowers should explore alternative options and thoroughly assess the terms and conditions before committing to any loan. By making informed decisions, individuals can navigate the financial landscape more effectively and find solutions that meet their specific needs.