Payday Alternative Loan (PAL)
A credit-union small-dollar loan capped at 28% APR — the cheaper option to almost any tribal loan.
What "payday alternative loan (pal)" means
A Payday Alternative Loan (PAL) is a small-dollar loan offered by federal credit unions to their members, with the APR capped at 28% and application fees limited to $20. Amounts run $200–$2,000 — the same range as most tribal loans, at a fraction of the cost.
For most borrowers weighing a tribal loan, a PAL is the single cheapest alternative worth checking first. You typically need to be a credit-union member, which many people can join easily.