Crane Finance is an online tribal lender that’s owned and operated by the Menominee Indian Tribe of Wisconsin. Known for providing unsecured short-term loans between $100 and $1,500, Crane Finance offers numerous benefits like an easy application process, fast disbursement and no credit check.
Though its loan offers seem appealing, especially to those in need of cash fast, Crane Finance may not be the best choice. It falls short in several key areas, including interest rates, customer service, repayment terms and loan amounts. If Crane Finance isn’t a good fit for you, here are some other lenders worth considering.
The maximum loan limit Crane Finance offers is just $1,500 — or $1,400 if you're a first-time borrower — which may not be enough to meet your financial needs. Upgrade offers much higher loan amounts, allowing borrowers to take out loans between $1,000 and $50,000.
Upgrade also offers more competitive interest rates. Its published rates start at 9.99% and max out at 35.99%. While Crane doesn't publish APRs on its website, it warns potential customers that its loans are expensive. Reviews from borrowers back up that claim, reporting interest rates that far exceed traditional lenders.
Min. credit score
580
APR
9.99% to 35.99%
Loan amount
$1,000 to $50,000
Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
The maximum loan limit Crane Finance offers is just $1,500 — or $1,400 if you're a first-time borrower — which may not be enough to meet your financial needs. Upgrade offers much higher loan amounts, allowing borrowers to take out loans between $1,000 and $50,000.
Upgrade also offers more competitive interest rates. Its published rates start at 9.99% and max out at 35.99%. While Crane doesn't publish APRs on its website, it warns potential customers that its loans are expensive. Reviews from borrowers back up that claim, reporting interest rates that far exceed traditional lenders.
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
Both Smart Advances and Crane Finance work with borrowers who have bad credit, but there's a vast difference between them in terms of interest rates. Crane doesn't advertise its APRs openly, but customers report APRs of 500% and even higher. Smart Advance offers APRs as low as 5.99%, with the maximum capped at 35.99%.
You can apply to either Smart Advances or Crane Finance without damaging your credit. As a loan marketplace, Smart Advances allows visitors to compare offers from multiple lenders with just a soft credit inquiry. Crane Finance bases loan decisions on your income without consulting the three major credit bureaus. Smart Advances also provides greater flexibility than Crane Finance, with larger loan limits and repayment terms of up to six years.
Min. credit score
All credit types
APR
5.99% to 35.99%
Loan amount
$100 to $20,000
Both Smart Advances and Crane Finance work with borrowers who have bad credit, but there's a vast difference between them in terms of interest rates. Crane doesn't advertise its APRs openly, but customers report APRs of 500% and even higher. Smart Advance offers APRs as low as 5.99%, with the maximum capped at 35.99%.
You can apply to either Smart Advances or Crane Finance without damaging your credit. As a loan marketplace, Smart Advances allows visitors to compare offers from multiple lenders with just a soft credit inquiry. Crane Finance bases loan decisions on your income without consulting the three major credit bureaus. Smart Advances also provides greater flexibility than Crane Finance, with larger loan limits and repayment terms of up to six years.
When you compare Credible to Crane Finance, one of the most noticeable differences is its repayment terms. Credible is a loan marketplace that allows users to compare offers from various lenders, with some offering repayment terms of up to seven years. Though exact repayment terms aren't advertised, Crane Finance makes it clear its focus is on short-term lending only.
Credible also beats Crane Finance on interest rates. APRs offered by Credible's partner lenders start at 6.99% for well-qualified borrowers and reach up to 35.99% for borrowers viewed as a high credit risk. These maximum rates may seem high, but they're reasonable compared to the exorbitant APRs customers report being charged by Crane Finance.
Min. credit score
Fair to excellent credit
APR
6.99% to 35.99%
Loan amount
$1,000 to $200,000
Available in all states
When you compare Credible to Crane Finance, one of the most noticeable differences is its repayment terms. Credible is a loan marketplace that allows users to compare offers from various lenders, with some offering repayment terms of up to seven years. Though exact repayment terms aren't advertised, Crane Finance makes it clear its focus is on short-term lending only.
Credible also beats Crane Finance on interest rates. APRs offered by Credible's partner lenders start at 6.99% for well-qualified borrowers and reach up to 35.99% for borrowers viewed as a high credit risk. These maximum rates may seem high, but they're reasonable compared to the exorbitant APRs customers report being charged by Crane Finance.
Pros
Compare multiple offers with just a soft credit check
One of the reasons people turn to Crane Finance is its accessibility. Because the lender typically doesn't require a credit check, borrowers with bad credit might get the cash they need quickly — but then they end up with high APRs that trap them in a cycle of debt. Thankfully, there is an alternative in Dave.
Dave is a cash advance app that doesn't require a credit check to sign up. Members can borrow up to $500 with no interest charged on the advance, though the app may request an optional tip. To qualify, you just need to sign up for the app, link a bank account that shows consistent income and pay a small subscription fee. But standard transfers can take up to three days, and you'll have to pay extra if you want your cash instantly.
Loan amount
Up to $500
Turnaround time
Up to 3 business days or instant for a fee
Costs
Undisclosed
Available in all states
One of the reasons people turn to Crane Finance is its accessibility. Because the lender typically doesn't require a credit check, borrowers with bad credit might get the cash they need quickly — but then they end up with high APRs that trap them in a cycle of debt. Thankfully, there is an alternative in Dave.
Dave is a cash advance app that doesn't require a credit check to sign up. Members can borrow up to $500 with no interest charged on the advance, though the app may request an optional tip. To qualify, you just need to sign up for the app, link a bank account that shows consistent income and pay a small subscription fee. But standard transfers can take up to three days, and you'll have to pay extra if you want your cash instantly.
LendingClub and Crane Finance are worlds apart when it comes to customer service. On the Better Business Bureau (BBB) website, Crane Finance is not accredited with a C- score and a low customer rating. Crane Finance customers routinely complain about predatory lending practices, including high APRs and being turned over to collections unnecessarily.
In contrast, LendingClub is accredited by the BBB with an A+ score and a 4.42 rating from customers. As a peer-to-peer lender, LendingClub appeals to borrowers seeking more flexible loan terms. The company offers competitive interest rates and wide-ranging loan amounts, making them a good alternative to Crane Finance.
Min. credit score
600
APR
8.98% to 35.99%
Loan amount
$1,000 to $40,000
Available in all states
LendingClub and Crane Finance are worlds apart when it comes to customer service. On the Better Business Bureau (BBB) website, Crane Finance is not accredited with a C- score and a low customer rating. Crane Finance customers routinely complain about predatory lending practices, including high APRs and being turned over to collections unnecessarily.
In contrast, LendingClub is accredited by the BBB with an A+ score and a 4.42 rating from customers. As a peer-to-peer lender, LendingClub appeals to borrowers seeking more flexible loan terms. The company offers competitive interest rates and wide-ranging loan amounts, making them a good alternative to Crane Finance.
Crane Finance offers low maximum loan amounts, which may not be a huge problem if you’re after less than $1,500. However, rates are extremely high compared to other lenders on this list. And, while borrowers with bad credit have access to loans via Crane, poor customer feedback points to an unhappy experience.
Christi Gorbett is a freelance writer with more than eight years of experience and a master's degree in English. She’s created a wide range of content for banks, financial product comparison sites, and marketing companies on topics like small business loans, credit cards, mortgages, retirement planning, lender reviews, and more.
As a former teacher, Christi excels at making complex financial topics accessible and easy to understand. Her interest in finance grew when she returned to the U.S. after living in South Korea for nearly a decade.
This shift was driven by several personal financial challenges: rebuilding her financial base after the move home, starting her own business, and catching up on retirement savings. These experiences deepened Christi’s practical understanding of finance and intensified her interest in the field. See full bio
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