Apply

Apply for a loan online. The application process is simple,Quick and Secure

Get A Decision

We will tell you right away if you're pre-approved for a certain amount - choose how much you want.

Get Your Cash

Receive your cash instantly. You can also get it same day via direct deposit within the next business day.

big picture loans llc

Understanding Big Picture Loans LLC: What You Need to Know Before Borrowing

big picture loans llc

Introduction

If you're facing a financial emergency or need extra cash for unexpected expenses, you may have come across the name "Big Picture Loans LLC." This company offers installment loans to individuals with poor credit or no credit history. However, you may be wondering who they are, what they offer, and if they are a reputable lender. In this article, we will dive into the details of Big Picture Loans LLC and provide you with a comprehensive overview of what they do and how they can help you in your time of need.

What is Big Picture Loans LLC?

Founded in 2012, Big Picture Loans LLC is an online lender that offers installment loans to individuals with poor credit or no credit history. They pride themselves on their simple and straightforward application process, with funding being available as soon as the next business day. The company is based in Watersmeet, Michigan, and is a subsidiary of the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a federally recognized Indian tribe.

How do their installment loans work?

Unlike traditional payday loans, which require full repayment on your next payday, Big Picture Loans LLC offers installment loans, which allow you to borrow a larger amount of money and repay it over a specified period. These loans can range from $200 to $3,500 and come with an annual percentage rate (APR) between 35.99% and 699.99%, depending on your creditworthiness. The repayment term can vary from 4 months to 18 months, giving you the flexibility to choose a payment plan that works for you.

What are the eligibility requirements?

Big Picture Loans LLC has few requirements for their loan applicants. To be eligible for a loan, you must be at least 18 years old, a legal resident of the United States, and have a regular source of income. They do not require a minimum credit score, and they do not perform a traditional credit check. However, they may check your financial information and credit history from alternative credit reporting agencies.

The application process

The application process for a loan with Big Picture Loans LLC is simple and can be completed online in a matter of minutes. You will need to provide basic personal information, such as your name, address, and Social Security number. You will also need to provide proof of income, such as a recent pay stub, and a valid checking account for direct deposit of funds. Once your application is submitted, you will receive a decision within minutes, and if approved, the funds will be deposited into your account as soon as the next business day.

Pros and cons of choosing Big Picture Loans LLC

There are both advantages and disadvantages to consider when choosing Big Picture Loans LLC as your lender:

  • Pros:
  • Quick and easy online application process.
  • Funding available as soon as the next business day.
  • No minimum credit score requirement.
  • High loan amount options available.
  • Flexible repayment terms.

  • Cons:
  • High APRs, which can make borrowing expensive.
  • Not available in all states.
  • The loans may not help improve your credit score.

Is Big Picture Loans LLC a reputable lender?

Big Picture Loans LLC is a legitimate lender and is licensed in the states where it operates. However, it's essential to note that they do not have a Better Business Bureau (BBB) rating and have received many customer complaints, mostly related to high APRs and aggressive collection practices. It's always recommended to thoroughly research a lender before agreeing to any loan terms and read reviews from previous customers.

Final thoughts

In conclusion, Big Picture Loans LLC offers installment loans for individuals with poor credit or no credit history. They have a simple and straightforward application process and can provide funding as soon as the next business day. However, they come with high APRs, which can make borrowing expensive, and they have received numerous customer complaints. It's crucial to carefully consider all your options before choosing Big Picture Loans LLC or any other lender and to ensure that you can comfortably repay the loan according to the agreed terms.

 

 

 
Relate Post
IMPORTANT: The Operator of this website is not a lender, financial institution, loan broker or an agent of a lender or loan broker and does not make any credit decisions. This service, which connects consumers with eligible third party lenders, is free to consumers. This service does, however, receive payment from lenders for referring lead data to them. Although multiple factors dictate the order in which lenders have the opportunity to purchase a lead, the highest bidding lender will most often get the opportunity. Lenders may perform credit checks through any credit reporting bureau and may also verify the information that you provide on this form including social security number, address, phone number, employment history, bank account information etc. Information may be shared with non-lenders or other intermediary service providers (like us) to help you connect with a lender. This service works with many different kinds of lending partners, including tribal lending institutions. Federally recognized Indian tribes are independent sovereign nations and their wholly owned entities are generally not required to follow state and local laws regarding rates, fees and other loan related conditions. However, Indian tribes and their wholly owned entities are required to follow some applicable federal laws. If you are connected with a tribal entity, be sure to check their rates as they may carry higher interest rates when compared to state-licensed lenders. The Truth in Lending Act requires lenders to disclose rates, fees and other important conditions of a loan. After checking the terms, make a determination of whether or not you can afford the payments. We earnestly encourage you to reject any offer that is not within your financial means. Short-term, small-dollar loans are not a long term solution to financial hardship. You may also consider seeking professional advice regarding your financial circumstances and alternatives to loan products. Late payments of loans may result in additional fees or collection activities, or both. Each lender has its own terms and conditions. Please familiarize yourself with your lender<92>s policies for further information. Additionally, failure to repay your loan may carry nonpayment penalties and collection activities. Please review nonpayment terms with your lender directly. Every lender has a different renewal policy please review your particular lender<92>s renewal policy for more information. State Availability: Lenders that participate in the services provided by this website do not offer loans in every state. If you are from a state that the lenders do not service, you will not be able to be connected to a lender. Our service does not constitute an offer or solicitation for any loan products that are prohibited by state law. Additionally, this is not a solicitation for any particular loan and is not a loan offer.