Enable Loans Review

Enable loans is a tribal lending company that offers fast, online installment loans to U.S. consumers who need emergency cash. Operated by the Wakpamni Lake Community Corporation (WLCC), which is part of the Oglala Sioux Tribe, Enable Loans is licensed under tribal law and not subject to state or federal lending regulations. Its mission is to support economic development within the Wakpamni Lake Community. Although the lender uses a Solon, Iowa mailing address, it functions under tribal sovereignty, which allows it to charge interest rates that far exceed state usury limits.

Enable Loans provides small-dollar, short-term installment loans ranging from $500 to $700 for first-time borrowers and up to $2,000 for returning customers. The loans are repaid in fixed weekly, biweekly, or monthly payments over a few months. The entire process is done online, with 24/7 access via a mobile-friendly platform. There’s no paperwork required and no minimum credit score to qualify. Enable Loans performs only a soft credit check, making it accessible to borrowers with poor or limited credit histories. Funding can be delivered the same day via ACH or instantly with a linked debit card.

However, the convenience of Enable Loans comes with significant drawbacks—most notably, its extremely high interest rates. According to customer reports and data from sources like Finder.com, APRs often range from 600% to 723%. For instance, a $500 loan might come with a finance charge of over $600, bringing the total repayment to $1,112.45. These kinds of rates are well above industry averages, and far more expensive than traditional personal loans or credit cards. Additional fees include a $35 late fee for payments more than seven days late and a $30 charge for returned payments.

Customer feedback about Enable Loans is largely negative. The company has received over 90 complaints on the Better Business Bureau (BBB) website and maintains an average rating of just 1 out of 5 stars. Many borrowers report being overwhelmed by aggressive repayment terms and high APRs. One borrower claimed their $750 loan required biweekly payments of $429, while others described the lender as “predatory” and “robbers,” stating that a large portion of their paychecks went toward loan repayment. Enable Loans and its parent company WLCC are not accredited by the BBB and have no presence on Trustpilot, further raising concerns about transparency and customer service.

Despite these concerns, Enable Loans is a legally operating tribal lender. It holds a valid Consumer Loan License (No. FS-51) issued in May 2024 under the Tribal Credit Code. However, it is not licensed in any U.S. state, and many state regulators have issued warnings about tribal lenders like Enable, which often operate outside state jurisdiction. As a result, the company does not offer loans in states like New York, Pennsylvania, Virginia, Massachusetts, and others. If a borrower has a complaint, their only recourse is through the Tribal Consumer Complaint Hotline, not a state consumer protection agency.

The pros of Enable Loans include quick access to emergency funds, a simple online application process, no credit score requirement, and flexible repayment options. It also does not charge any hidden fees or prepayment penalties. On the downside, the lender’s extremely high interest rates, poor customer reviews, lack of regulation, and limited availability across states make it a risky choice for most borrowers. Enable Loans is best used only in absolute emergencies—and only if you are confident in your ability to repay quickly.

If you’re looking for safer and more affordable loan alternatives, consider credit union loans, peer-to-peer lending platforms, or instant cash apps like Brigit, Dave, or Earnin. These options typically come with lower costs and better consumer protections.

Enable Loans may look like a quick fix, but the risks involved can outweigh the benefits. Make sure you fully understand the terms before signing, and if possible, choose a more affordable lending solution. For more honest reviews and expert financial advice, visit our site and stay informed.