Mobiloans vs Spotloan
Both are tribal lenders charging triple-digit APRs, so this is not a contest of good options — it is about which is less expensive and less risky. Spotloan scores higher (4.6 vs 3.1), but the right pick depends on what you need.
| Feature | Mobiloans | Spotloan |
|---|---|---|
| Our score (/10) | 3.1 | 4.6 |
| APR range | 73.7–405% (reported) | ≈490% |
| Loan amounts | $500–$3,000 | $300–$800 |
| Product | line of credit | installment |
| Owning tribe | Tunica-Biloxi Tribe | Turtle Mountain Band of Chippewa |
| Lending since | 2012 | 2012 |
Pick Mobiloans if…
- Lower maximum APR (405% vs 490%)
- Larger loans available (up to $3,000)
- Product type: line of credit
Skip Mobiloans if…
- You live in a state it does not lend to: Colorado, Connecticut, Georgia, Illinois and 16 more.
- You want to see the APR before you apply — it publishes none; the rate appears only in the agreement.
- You want a fixed payoff date — this is a revolving line of credit with minimum payments.
Pick Spotloan if…
- Higher overall score (4.6 vs 3.1)
- Product type: installment
Skip Spotloan if…
- You live in a state it does not lend to: Arkansas, Connecticut, Illinois, Maryland and 8 more.
- You need more than $800 — that is its ceiling.
Our take on each
Mobiloans
Mobiloans is a line of credit, not an installment loan — its two-part fee structure hides an effective APR up to 405%, and whether its arbitration clause binds you now depends on which federal circuit you're in.
Spotloan
Spotloan is one of the cheapest tribal lenders — but 'cheapest' still means up to 490% APR, and it uses simple daily interest, which rewards paying off early more than almost any competitor.
Before choosing either, price a cheaper option.
Both loans are last-resort products. A credit-union Payday Alternative Loan is capped at 28%
APR, and cash-advance apps cost a fraction of a triple-digit tribal loan. If you already have
one of these loans, see our guide to getting
out.