First Loan Watchlist
Elem Indian Colony of Pomo Indians · lending since 2018
A class action alleges First Loan is run from an Oregon IP address about 1,000 miles from the Elem reservation whose name it uses — and that the tribe is a "straw owner" taking under 2% of revenue.
First Loan at a glance
- Owning tribe
- Elem Indian Colony of Pomo Indians
- Lending since
- 2018
- Loan amounts
- $200–$5,000
- APR range (reported)
- 615–859%check date not recorded
- Product
- installment
- Website
- firstloan.com
What a First Loan loan really costs
First Loan lends up to $1,500 to first-time borrowers and up to $5,000 to returning ones, over about a year in weekly or semi-monthly payments, at APRs of roughly 615–859%. The rate is disclosed only in the loan agreement.
- Returning borrowers can access up to $5,000 — high for this tier.
- Same-day/next-business-day ACH funding.
- APRs of roughly 615–859%.
- BBB shows it failed to respond to complaints; all reviews are 1-star.
- Named in rent-a-tribe litigation alleging non-tribal control from Oregon.
- Flagged as unlicensed by Washington’s DFI.
Skip First Loan if…
- 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 First Loan lends
First Loan does not publish a fixed excluded-states list. Washington’s DFI has issued a not-licensed alert against it.
Does First Loan report to credit bureaus?
First Loan verifies applicants through Clarity, FactorTrust and MicroBilt, and does not confirm furnishing to the major bureaus — so it will not build credit.
The rent-a-tribe allegations
First Loan operates as the Elem Indian Colony of Pomo Indians d/b/a First Loan, based in Clearlake, California. Multiple rent-a-tribe class actions allege the real operators are non-tribal — naming Stanley Chao and NP Finance — with the tribe acting as a "straw owner" receiving under 2% of revenue.
One Illinois filing alleges loans at 700%+ against the state’s 9% cap for unlicensed non-bank lenders, and pins First Loan’s servicing IP address in Oregon, roughly 1,000 miles from the Elem reservation.
What First Loan costs in dollars
First Loan's highest reported APR is 859% APR. Below is what that rate does to the amounts it actually lends, repaid over 12 monthly payments.
| You borrow | Monthly | Total repaid | Interest |
|---|---|---|---|
| $200 | $143 | $1,721 | $1,521 |
| $2,600 | $1,864 | $22,368 | $19,768 |
| $5,000 | $3,585 | $43,016 | $38,016 |
At 859%, a $200 balance accrues about $143 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
Who really runs First Loan?
It operates under the Elem Indian Colony of Pomo Indians in California, but class actions allege the actual operators are non-tribal (Stanley Chao / NP Finance), with the tribe as a "straw owner" taking under 2% of revenue and servicing traced to an Oregon IP address.
What is the APR on a First Loan loan?
Roughly 615–859%, disclosed only in the loan agreement. Read the APR box before accepting funds.
Is First Loan legit?
It is an operating lender, but it is heavily litigated as an alleged rent-a-tribe scheme, flagged as unlicensed by Washington’s DFI, and its BBB record shows unanswered complaints and uniformly 1-star reviews. Treat it as a high-risk last resort.
Is First Loan a tribal loan?
Yes. First Loan is a tribal lending brand owned by the Elem Indian Colony of Pomo Indians in CA. 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 615–859% — 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 a loan from First Loan cost?
First Loan lends $200–$5,000 at 615–859% APR (reported — First Loan 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 a loan from First 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. First Loan 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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