Is American Web Loan a Legal Company? – Tommie

I became involved with an online cash advance company called American Web Loan. I set up payments for the loan to be paid back. It wasn’t explained to me that the payments made would not cover the principle. Every payment only covered the interest. I notified the company who then explained to me that the payments only covered the interest and that after 3 payments of interest, then the interest + an extra $30 would be taken out until the payment is paid. I borrowed $400. by the time it is paid I believe it will be close to $1000 paid. I want to know is this legal? Is American Web Loan a legal company? What recourse do I have? I have asked my bank to stop payment until I can figure out the answers to my questions.

I want to know is this legal? Is American Web Loan a legal company? What recourse do I have? I have asked my bank to stop payment until I can figure out the answers to my questions.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.

Dear Tommie,

I visited their website at and it is not clear where the company is actually located.

Do you have any paperwork that has a mailing address on it?

There is this curious statement on their site that says, “Please be advised that you are accepting the terms of your loan subject to the Otoe-Missouria Tribe American Web Loan Act and under the authority of the Finance Services Regulatory Commission established under the Act.”

Please post your responses and follow-up messages to me on this in the comments section below.


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15 thoughts on “Is American Web Loan a Legal Company? – Tommie”

  1. the small print was not informed when applying on this small loan , they started taking out $330 every pay , which i would have not agreed to that if i had seen the terms . I called to speak to someone that would talk about this loan, and the women ended up hanging up on me. i had to cancel my bank account and was late on my car because they took out my car payment. i almost lost my apartment
    , i had to get a money order to pay the landlord. i am still not sure how to go about this.very illegal. in proccess of maybe talking to attorney or websites.

  2. I get their and other “tribal loan” offers. The address I have is in Stillwater, OK btw. However if you read their paperwork before you ever apply for a loan it says that they are a Native American company loaning under tribal laws which are not governed by FTC or any other government entity. If you read the interest rate some are 300%!!! That being said you could pay for MANY years without EVER paying on principal. With a loan you are always paying on interest accrued first then principle and the only way to get around it is to try and do a couple of extra payments in a term unless you have an early payoff fee or fine. So I know I could really use $1k right now to get out of my overdraft but I’d rather carry the lateness there than interest on an emergency loan with horrible terms than Han miss a payment and have my APR raised in fine or have additional fees applied to my credit account that are going to accrue even more. That being said I could really use a friend like @Pulte right now!

  3. Hello All. I am a previous employee of AWL which used to operate under the name LoanPointUSA. AWL is not licensed to lend in any state, except for the state in which their rent-a-tribe is located which varies between Ponca City and Red Rock, OK.  Their main operations building however, is located at 6950 W 56th Street Mission, KS 66202 (913) 825-1200. If you speak with someone in regard to a complaint, they will say “We do not have to abide by your state laws.” I have seen people who have defaulted on loans, get money taken from their accounts on Christmas eve after applying on a totally different website. I personally don’t think it’s legal and if you would like to file a complaint with the attorney general of your state I would be more than happy to assist you. 

    • I just did a search with the Oklahoma Secretary of State office and it could not identify a company registered in the state of Oklahoma under the name American Web Loan.

      I’d now give the company a call back and ask them to negotiate with you to put together a reasonable and balanced repayment plan for this debt.

      You might want to bring this recent FTC ruling to their attention if they will claim they are operating under Tribal law as their site appears to claim. See

  4. Hi Steve, actually they handled everything over the phone. I received no mailing address or paperwork. I thought that was strange. All they do is pull from my checking acct which I have put on hold. I wanted to find out if they were legal or not.


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