Financial distress situations can be very stressful and heartbreaking, from medical emergencies to sudden home repairs or even urgent grocery shopping. In most cases, facing such a need usually leaves you with no option but to seek quick funding from online stores.
However, finding the right loan and a reputable lender tailored to your emergency can be daunting, especially with multiple options. If you need a payday loan with approval as quickly as the same business day, then you should try WeLoans. WeLoans, an online broker, can connect you with various direct lenders with excellent reputations.
WeLoans is a leading online broker that offers a variety of loan options to everyday customers. They are also quite reputable for their quick loan approval and bad credit facilities for individuals with low credit ratings. Discover how to apply for funding at WeLoans and the broker’s potential pros and cons in this review.
All You Need To Know About WeLoans
Although known more for its payday loans for bad credit with no credit check, WeLoans is a reputable online broker providing many loan options. The company itself does not give loans. However, it partners with dozens of equally trustworthy direct lenders and makes loan offers more accessible to customers.
WeLoans has categories for personal loans, title loans, cash advances, and installment loans, depending on your needs. These funding options are available to potential borrowers in over 30 states.
Choosing WeLoans means you get to enjoy quick approval, and compared to other similar brokers, the chances of loan approval are higher. Bad credit borrowers are also not excluded as WeLoans provides secured loans with soft credit pull suitable for individuals with poor credit history.
Types of Loan Services Available at WeLoans
Having a large database of online lenders means that WeLoans can provide intending borrowers with different loan offers. Here’s a quick rundown of the services available to you at WeLoans.
Payday Loans
As the name suggests, this type of funding is intended to be repaid with your next paycheck. Payday loans are usually short-term and offer relatively small cash to cover emergency expenses or urgent financial needs.
Cash Advance
This type of loan is also short-term, but credit unions or banks usually offer it. Cash advance loans usually come in overdrafts or additional cash on your credit card.
Installment Loans
WeLoans offers installment loans of up to $5,000 from reputable lenders that you can repay weekly, monthly, or fortnightly. Repayment on installment loans can be charged automatically to your credit card or other flexible methods you agree on with the lender.
Personal Loans
Personal loans are a funding option for borrowers who need large amounts of cash to cover huge expenses. WeLoans provides access to up to $35,000 worth of unsecured personal loans. The interest rates and repayment terms on these loans are fixed.
Title Loans
Also known as car title loans, this loan gives you short-term funding with your vehicle’s title documents as collateral. Since this loan is secured, lenders usually conduct only a soft credit pull.
Advantages and Disadvantages of Choosing WeLoans
Before choosing multiple loan options at WeLoans, here are some of the benefits and demerits of the platform.
Pros
Fast Loan Approval
WeLoan partner lenders mostly run soft credit checks on your application. This means you can expect your loan request to be approved and receive funding in one to three business days.
Convenient Application Process
You don’t have to visit any physical store to get loans. The WeLoans application process is completely online and can be done seamlessly by accessing the company’s website on your device.
Suitable for Bad Credit
A bad credit score is no barrier to getting loans. WeLoans has several secured lending options that pay more attention to your income and collateral.
Large Network of Lending Partners
WeLoans works alongside a long list of dependable direct lenders. These lenders ensure that customers can choose from multiple loan offers.
Industry Standard Security
You can rest assured that whatever information you send through WeLoans’ channels is protected against data breaches through cutting-edge encryption technologies.
Cons
No Coverage in Some States
Unfortunately, not all customers in the country can access Weloans services. That’s because the company does not provide loan offers in some states.
How to Get Online Loans with the Help of WeLoans?
Follow this easy four-step procedure to obtain a loan from the WeLoans website.
Satisfy the Eligibility Requirements
Before starting the application process, review the eligibility requirements to ensure you qualify for a loan. Ideally, US citizens aged 18 years or older can take out funding at WeLoans. You also need a valid government-issued ID, an active bank account, and a source of income.
Complete an Online Form
Fill out the WeLoans loan request form on the website. Be sure to provide accurate personal information, details about your financial standing, contact info, and the amount you wish to borrow. You can navigate to this page to get online loans by applying.
Browse Through and Accept Offers
Once you submit the form, WeLoans will reach out to you with several offers from partner lenders. Compare the rates and repayment terms, after which you can accept a suitable offer.
Expect Funding in Your Account
Sign all necessary paperwork indicating your acceptance of the loan offer. Afterward, the funds will be sent to the account number you provided.
Final Thoughts on WeLoans
Taking out loans is a good way to deal with urgent expenses before your income shows up. Choosing reputable brokers like WeLoans as your source for loan offers gets even better.
Overall, WeLoans presents an opportunity for cash-strapped individuals to enjoy quick short-term funding. With an extensive lender network and multiple loan options, you can choose different funding categories that will better alleviate your financial need.
FAQs
Is WeLoans a Safe Platform to Apply for Funding?
Yes. WeLoans adopts next-gen safety and encryption technologies to secure your data from unrecognized third-party access.
How Long Does It Take for WeLoans to Process My Application?
WeLoans is a broker but not a direct lender, so it won’t process any applications or send out loan offers directly. Once you submit the loan application, you will get approval on the same day or within three working days.
Featured Image by Steve Buissinne from Pixabay
