Personal loans are often the most practical answer for many people that find themselves struggling to keep up with bills and expenses. Whether it be dealing with unexpected car repairs, buying household items, paying for utilities or even financing an event, taking out a loan is often the quickest solution.
However, finding reputable lenders, let alone one that you can secure approval from is rarely that easy. It is in such times that a loan broker like WeLoans can often turn out to be a lifesaver, as you can get access to payday loans for bad credit on this site without any hassle. If you want to know more about how this company can help you, then make sure to keep on reading to find out!
What Is WeLoans?
WeLoans is an online loan broker that helps borrowers to find and connect with potential online lenders, many of whom offer a wide range of loan products such as payday loans, installment loans, bad credit loans, etc. In short, they are not direct lenders but rather act as an intermediary between borrowers and loan providers.
To this end, they make it easy for anyone that is looking to secure urgent funding. And since most of the lenders within their network are open to bad credit applications, this means that you don’t need to deal with any strict eligibility requirements, either. This also means that you don’t need to fill out multiple loan applications with different lenders.
The entire process can be conveniently handled via WeLoans, which saves you a lot of time and reduces the risk of your credit score being lowered due to multiple credit checks. Also, since they are a highly-reputable service provider, you can rest assured that they will only connect you to legitimate and verified lenders. No matter you want a payday loan or an installment loan for bad credit, WeLoans would be your perfect choice to go, look at this page to know more..
How Much Can I Borrow via WeLoans Network?
The entire loan application process is handled online, where borrowers can typically access funding from as low as $100 to $5,000 with decisions often being made within 24 hours of submitting your loan request. However, you need to keep in mind that each lender in WeLoans’ network has their respective lending terms, which also means that the interest rates, repayment periods and even late payment fees will often vary.
You should also know that WeLoans has no direct influence over any loan agreements that you make with the lenders in their network. However, to submit a loan request through their service, there are some basic requirements that you first need to meet. These include:
- Being at least 18 years old
- Being a US citizen or permanent resident
- Having a steady income stream
- Having an active bank account
Another important thing to remember is that the WeLoans is entirely free to use, which means that you don’t ever have to worry about dealing with any hidden fees or costs.
How Does Getting a Loan via WeLoans Work?
The good thing about WeLoans is that submitting a loan request via the platform is a fairly straightforward process that doesn’t usually take more than a few minutes to complete. To get started, all you need to do is follow the steps below:
Step 1: Head over to the WeLoans website and fill out the pre-approval form. You will be required to select the loan amount, as well as input your relevant details such as your name, address, credit score, employment information, bank account, etc.
Step 2: Once you submit the form, your application will be reviewed and the system will instantly search for any eligible lenders that best fit your criteria. Within a matter of minutes, you can expect to be provided with a list of potential lenders and each one of them comes with their respective terms and fees.
Step 3: You will then need to take your time to compare and choose the offer that best falls in line with your budget and requirements by reviewing the rates and repayment terms. If you find an offer that you are satisfied with, you can proceed with the lender and finalise the loan agreement.
What Do We Like About Using WeLoans?
Several reasons justify why you should consider using WeLoans today but to help save time, let’s quickly break down some of the main things that we most like about the service.
#1. Fast loan processing
When you use WeLoans’ network to apply for a loan, you can often be confident that you won’t have to wait days for a decision on your loan request. Furthermore, all approved loans are typically processed by the next business day, so you will often be able to deal with any urgent expenses immediately.
#2. Safe and secure
Another commendable aspect of WeLoans is that its site uses advanced encryption technology to ensure that its users are provided with complete data protection and privacy. The company also runs frequent security tests and updates on its site, so you can rest assured that any information you share will remain confidential.
#3. Bad credit accepted
As mentioned before, WeLoans lenders’ network is open to accepting bad credit applications, which means that even if your credit score is poor, there is still a chance that you can be approved for funding. This is because their lenders will usually focus on your ability to repay the loan rather than your credit history. So, as long as your income shows that you can meet your repayments on time, then you should be able to get loan offers.
#4. Saves time
The challenge in finding a bad credit lender online is that there are so many options out there, it can be difficult to pinpoint who is legitimate and who isn’t. However, with WeLoans’ service, you can instantly access a network of over 100+ lenders, all of whom have been vetted. This helps to save you a lot of time and reduces the chances of falling victim to an online scam.
What Do We Dislike About Using WeLoans?
While there are a lot of benefits to using WeLoans, there is still one main downside that must be taken into consideration before you decide to borrow a loan from their lending network.
High-interest rates. While bad credit borrowers can access funding via WeLoans’ network, the problem is that these loans tend to come with high-interest rates. It is for this reason that you should only ever borrow from their partner lenders if you are confident that you can make the repayments on time.
If you ever find yourself in need of an urgent cash injection but have no way to borrow the funds from a traditional lender like a bank, it’s safe to say that WeLoans is a viable option.
Even with the high-interest rates, it is still one of the safest, most reliable, and most convenient sites to use in the event of a financial emergency.
Just make sure that you review the loan offers in detail before accepting, which should ensure that you don’t find yourself falling into bad debt.