Crane Finance Review: Avoid This Costly Lender

Is Crane Finance legit?

Crane Finance is an actual tribal lender. However, its interest rates are incredibly high, and it preys on borrowers who can’t get loans elsewhere, so you can’t really call it legit.

Unlike some high-interest lenders, it doesn’t disclose its rates until after you’ve been approved for a loan, and it may bury the actual rates in the fine print. It also had at least two lawsuits filed against it, which include racketeering and corruption charges.

Based on these reasons, we can’t recommend Crane Finance as a viable loan option, and borrowers should look elsewhere for top personal loan lenders.

Where Crane Finance falls short

One of the worst things about Crane Finance is that it charges interest rates of around 700% or more. Sadly, this rate makes a garden-variety payday loan seem like a sweet deal by comparison. Borrowers could end up paying quadruple what they actually borrowed. Even with less-than-stellar credit, borrowers can find a lender willing to lend to borrowers with bad credit.

Plus, it’s not up front about its rates — or what that means for the loan’s total cost — so many borrowers may not understand what they’re getting into before it’s too late. Also, because Crane Finance doesn’t have to abide by individual state laws, mistreated borrowers may have little recourse once they realize how much they owe.

Alternatives to Crane Finance

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Name	Product USFSL	Filter Values	Loan amount	Turnaround time	Requirements
Chime SpotMe® Finder Score: 4.2 / 5: ★★★★★ Chime SpotMe® Finder Score: 4.2 / 5: ★★★★★			Up to $200	Instant	Qualifying $200 direct deposits into Chime checking account each month. Chime debit or Credit Builder card.	Access fee-free overdrafts up to $200 when eligible. Plus get your paycheck up to 2 days early with direct deposit. See Chime terms and conditions.	Go to siteMore Info Compare	loading Fetching your data...
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EarnIn Finder Score: 4.7 / 5: ★★★★★ EarnIn Finder Score: 4.7 / 5: ★★★★★			Up to $750 per pay period, but only $150 per day	1 to 3 business days or instant for a fee	Direct deposit sent to a checking account, a regular pay schedule, a fixed work location or an online timekeeping system at work	No mandatory fees, no interest and no credit checks. Subject to EarnIn terms & conditions.	Go to siteMore Info Compare	loading Fetching your data...
OppLoans Installment Loans Finder Score: 4.7 / 5: ★★★★★ OppLoans Installment Loans Finder Score: 4.7 / 5: ★★★★★			$500 to $4,000	As soon as the same business day	+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state	Comes with the option to change your due date so you won’t fall behind on repayments.	Go to siteMore Info Compare	loading Fetching your data...
Sorbet Not rated yet Sorbet Not rated yet			Based partially on the amount of your accrued & unused PTO	Up to 5 business days for approval and 5 business days for funding, or faster for a fee	18 years old or age of majority in your home state, annual income $30,000 a year, proof of income may be required, have a bank account supported by Sorbet	Tap your unused PTO for a cash advance so you can access that money early. Loans made by Lead Bank. Select Go to site for more info.	Go to siteMore Info Compare	loading Fetching your data...
Dave ExtraCash Finder Score: 4.2 / 5: ★★★★★ Dave ExtraCash Finder Score: 4.2 / 5: ★★★★★			Up to $500	Up to 3 business days or instant for a fee	At least two direct deposit paychecks to your bank account from your employer, extra money in your bank account	Borrow up to $100 to avoid hefty overdraft fees.	Go to siteMore Info Compare	loading Fetching your data...

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What makes Crane Finance shine?

There aren’t a lot of positive things to say about Crane Financing, except that you could get a loan the same day you apply, which may be able to help you out in a serious emergency. But, if you can’t pay it back right away — which is the only way it would be worth it — you’ll wind up paying hundreds or thousands of dollars in interest for even just a small loan.

We rarely recommend payday lenders, but they’re better than Crane Finance by a mile if you need money in a hurry and don’t qualify for other loans. However, in some cases, a cash advance app may work instead.

Crane Finance product details

Crane Finance contact info

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How to qualify for Crane Finance

To qualify for a loan with Crane Finance, you must meet the following criteria:

• Be 18 or older
• Be a US citizen or permanent resident
• Provide proof of a regular source of income for at least the last 90 days
• Have a valid checking account
• Have a valid email address and phone number

How to apply

Applying for a loan with Crane Finance is pretty similar to other online lenders’ applications.

1. Visit its website and select Get started.
2. Fill out the online application.
3. Create an account and log in to verify your information.
4. Wait for loan approval, which may require a hard credit check.
5. Review and sign your loan agreement if you’re approved.

Crane Finance should deposit the funds into your bank account on the next business day, or you can have them transferred instantly for a $5 fee.

Crane Finance reviews and complaints

There are basically no good reviews of Crane Finance on its Better Business Bureau (BBB) page. Customers complain about poor customer service, rates of or higher and being threatened with wage garnishment — even if their payment was only a day or two late. Most refer to the company as a predatory lender or a scam and express disbelief that a lender like this is allowed to continue operating.

On Trustpilot, a single review ranks Crane Finance as one star, but the review isn’t applicable to Crane Finance loans. Despite this lone review, it somehow has a rating of 3.2 out of 5 stars.