eLoanWarehouse Watchlist
Lac Courte Oreilles Band (Opichi Funds LLC) · lending since 2022
eLoanWarehouse is the 2022 rebrand of Blue Trust Loans — same tribe, same operation, new name. Its BBB 'A+' measures how fast it answers complaints, not the up-to-700% loans behind them.
eLoanWarehouse at a glance
- Owning tribe
- Lac Courte Oreilles Band (Opichi Funds LLC)
- Lending since
- 2022
- Loan amounts
- $300–$3,000
- APR range (reported)
- 400–700%checked Jul 2026
- Product
- installment
- Website
- eloanwarehouse.com
What an eLoanWarehouse loan really costs
eLoanWarehouse lends $300–$3,000 over 6–12 months, marketed as a 'payday loan alternative.' Reported APRs run roughly 400–700%; its predecessor brand, Blue Trust Loans, ran 471.78–841.45%. Borrowers describe an $800–$1,000 loan costing $2,600–$3,000+ in total, and — more troublingly — duplicate or post-payoff ACH withdrawals and overdrafts without warning. Because the operation actively removes negative reviews, weigh the glowing surface ratings skeptically.
- Larger loans than many tribal peers — up to $3,000.
- Typically no prepayment penalty.
- Only four excluded states, so widely available.
- APRs run ~400–700% (its Blue Trust predecessor reached 841%).
- Duplicate and post-payoff ACH withdrawals reported.
- Trustpilot reviews and Reddit threads have been disabled — a reputation-scrubbing signal.
- BBB "A+" reflects responsiveness, not a ~1.03/5 customer rating.
Skip eLoanWarehouse if…
- You live in a state it does not lend to: New York, Pennsylvania, Virginia, Connecticut.
- You need a lender we can confirm is still making loans — its status is unconfirmed.
- You want to see the APR before you apply — it publishes none; the rate appears only in the agreement.
Where eLoanWarehouse lends
eLoanWarehouse's own terms name exactly four opt-out states; the tribe reserves the right to change this.
By its own terms, eLoanWarehouse does not lend to residents of:
Does eLoanWarehouse report to credit bureaus?
eLoanWarehouse generally does not report to the three major bureaus, so on-time payments will not build credit; it verifies applicants through subprime bureaus. A default can still reach collections.
The financier the tribe itself sued
The non-tribal money behind Lac Courte Oreilles lending is unusually well documented, because the tribe’s own entity put it on the record.
LCO Financial Services sued its financier, Cane Bay Partners VI, in federal court (E.D. Wis. 3:22-cv-00344) — a rare instance of the tribal side and the capital side ending up on opposite sides of a caption.
Cane Bay, run by Kirk Chewning and David Johnson, is named across the eLoanWarehouse and Blue Trust dockets (Kalkbrenner, N.D. Ill. 1:23-cv-14232) alongside Strategic Link Consulting and Dimension Credit (Cayman).
That matters for a borrower because it is the clearest possible statement of the rent-a-tribe structure: the tribe’s name is on the loan, but the money — and, the litigation alleges, the control — sits with a St. Croix-based finance firm.
When a court is asked whether the tribe is the real lender, filings like these are the evidence that it is not.
Who actually owns and runs eLoanWarehouse
eLoanWarehouse is operated by the Lac Courte Oreilles Band of Lake Superior Chippewa in Hayward, Wisconsin, through Lac Courte Oreilles Financial Services II, LLC and Opichi Funds, LLC. Critically, it is the direct rebrand of Blue Trust Loans — the operation was renamed in May 2022 — so long-time borrowers note the terms did not change with the name.
Washington's DFI has issued a consumer alert that the Lac Courte Oreilles lender is not licensed in that state.
The reputation-scrubbing red flag
Beyond the standard rent-a-tribe class action filed in 2023, eLoanWarehouse stands out for how it manages its image: a prior Reddit thread and video review were removed, and its Trustpilot reviews were disabled.
Its BBB 'A+' is similarly misleading — that grade measures how promptly the business responds to complaints, not whether the loans are fair, and it coexists with a customer-review average near 1.03 out of 5.
What eLoanWarehouse costs in dollars
eLoanWarehouse's highest reported APR is 700% APR. Below is what that rate does to the amounts it actually lends, repaid over 12 monthly payments.
| You borrow | Monthly | Total repaid | Interest |
|---|---|---|---|
| $300 | $176 | $2,108 | $1,808 |
| $1,700 | $996 | $11,948 | $10,248 |
| $3,000 | $1,757 | $21,085 | $18,085 |
At 700%, a $300 balance accrues about $175 in interest every month. Any payment below that figure leaves you owing more than you started with, however long you pay.
Standard amortization at the published ceiling rate; fees are not included, and your actual rate and term may differ. Run your own numbers in the payoff calculator.
Frequently asked questions
Is eLoanWarehouse the same as Blue Trust Loans?
Yes. eLoanWarehouse is the May 2022 rebrand of Blue Trust Loans — the same Lac Courte Oreilles operation with the same terms and servicing, under a new name.
Why does eLoanWarehouse have an A+ from the BBB but terrible reviews?
The BBB letter grade measures how promptly a business answers complaints, not whether its product is fair. eLoanWarehouse responds to complaints (hence A+) while carrying a customer-review average near 1.03/5 and up-to-700% APRs.
What is the APR on an eLoanWarehouse loan?
Roughly 400–700%; its predecessor Blue Trust Loans reached 841%. The rate is disclosed in your signed agreement — read the APR box before accepting funds.
Is eLoanWarehouse a tribal loan?
Yes. eLoanWarehouse is a tribal lending brand owned by the Lac Courte Oreilles Band in WI. That means it lends under tribal law and claims sovereign immunity from your state's interest-rate cap, rather than holding a state lending license. It is also why its APR reaches 400–700% — far above the roughly 36% cap most states set for small loans. Whether the loan is enforceable where you live depends on your state.
What does an eLoanWarehouse loan cost?
eLoanWarehouse lends $300–$3,000 at 400–700% APR (reported — eLoanWarehouse does not publish its rate). Near the top of that range, the total repaid on a loan run to term is several times the amount borrowed — check the total of payments in your agreement, not the monthly figure.
Is an eLoanWarehouse loan legal in my state?
It depends entirely on your state. High-cost tribal loans are effectively banned in nine states, where a loan above the rate cap can be void and not legally collectible, and restricted in many more. eLoanWarehouse claims tribal sovereign immunity from those caps — an argument courts have accepted in some cases and rejected in others. Check your state before you borrow, and especially before you pay a collector.
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