Finding a payday loan online can have anyone confused. While the online loans marketplace has made the traditional processes 10x easier, it can also get a little overwhelming for beginners. What, with thousands of lenders advertising their top-notch services, where do you even start?
Instead of making the wrong decisions in a hurry, why not get access to a website that makes your life easier? For those looking for payday loans with no credit check on brokers like WeLoans, you’ve come to the right place. Keep reading for a detailed review on WeLoans and whether it can help you find the payday loan of your dreams.
What is WeLoans?
WeLoans is an online loan broker platform. It won’t offer you a payday loan, or rather any loan, but it will connect you to lenders that do.
WeLoans has an all-in-one platform that has multiple loan types, meaning you can apply for whichever loan you think is suitable for your requirements through WeLoans. The website then connects you with reputable lenders across the US offering that loan type.
In general, what you’re getting is a single platform where you can get offers from several lenders instead of having to search and apply on each lender’s website separately. Interested? Visit the WeLoans website right now to learn more about it.
What Does WeLoans Offer for Loan Types?
WeLoans hasn’t restricted itself to one specific loan type. In fact, the website has multiple loans that cover just about every loan type a borrower would want to consider. Here’s an overview of some of them:
Payday Loans
The culprit at hand. Payday loans are those through which you can get temporary funds until your next payday. This loan is short-term and unsecured, meaning you don’t have to put up an asset as collateral.
No Credit Check Loans
No credit check loans exempt hard credit checks on the applicant’s profile. While lenders still conduct a soft credit check, this has no impact on credit scores. This loan type is popular with bad credit score applicants.
Installment Loans
Need a long-term loan that can be repaid within a few years? Installment loans are an ideal option to look into. This loan lets you borrow up to $5,000 and repay it within 3-4 years on a monthly basis.
Title Loans
Title loans are a secured loan type where the applicant needs to sign over the ownership of their vehicle until they repay the loan completely. Till then, the lender offers the money and keeps the legal ownership in return.
Emergency Loans
The name should give it away. Emergency loans are those where the applicant needs money within 24 hours, and a lender is ready to provide it. The application, approval, and funding process in this loan type is quicker than any other.
Pros & Cons of Payday Loans via WeLoans
Prior to taking any action that concerns your finances, you should know everything there is to it so you’re making nothing but a completely informed decision. Is WeLoans the right place to look for payday loans, or should you consider another option? These pros and cons can help you figure that out:
Advantages
Reputable Lenders
The first and foremost thing that you should take when borrowing money from a lender is their credibility. What you actually need to check to know that you won’t regret the decision is the lender’s reviews.
WeLoans has thousands of lenders in its network, but none without a license and customer reviews to back up their trustworthiness. However, you should still double-check a lender before moving forward with an offer.
Easy Process
If you’re exhausted because of financial strains and don’t want to spend the little time you’ve left filling out loan applications, WeLoans has the solution.
Possibly the best feature that helps WeLoans stand out is its smooth application process. Applying through WeLoans doesn’t include the hurdles of traditional loan applications or even having prior online application experience.
The website and application form is simple, easy, and quick so that anyone can fill it in whenever they need to borrow money.
Bad Credit Acceptance
Is your bad credit score stopping you from hopes of getting a payday loan even when you absolutely need one? WeLoans to the rescue once again.
Technically, WeLoans has lenders on its network that have minimum eligibility criteria. Legal age, US citizenship, active banking, and sustainable income? You’re good to go. These lenders don’t reject applications on the basis of bad credit. In fact, they have some of the highest acceptance rates.
Lenders may conduct a soft credit check instead of a hard credit check to go over your credit history, but that’s about it. The only real impact your credit score may have on the loan is the interest rates.
Competitive Rates
If you’ve either been eyeing APRs and lender’s fees that are either sky-high or too low, you’re looking in the wrong places. You don’t want to break your bank with additional costs you can’t pay back, but you wouldn’t want to fall for another scam, either.
WeLoans gathers the leading lenders in the US in one place, where they can offer you their best rates. You’ll find some of the most competitive rates for payday loans from these lenders. In return, this also prevents you from being blindsided and accepting the first offer that you get when searching for payday loans.
Drawbacks
US-Based Only
Unfortunately, those who don’t reside in the US as of now are unable to apply for a payday loan through WeLoans. Currently, the platform and its lenders only operate across the US. If you’re searching for a loan from another country, better look someplace else, preferably for online lenders in your home country.
How to Apply for a Payday Loan with WeLoans?
If you’ve made your decision to apply for a payday loan through WeLoans, all that’s left is to start the process. This step-by-step guide can get you through it:
- Go to the website of WeLoans. After selecting a loan amount, fill in the application form.
- Once your loan request is approved by direct lenders, you will need to compare loan offers according to your real financial needs.
- Receive the loan fund. After all, is ready, you will receive the loan as soon as the same day.
Final Verdict
Payday loans used to be a headache back in the days when sites like WeLoans didn’t exist. Imagine searching for lenders and then having to compare their offers all by yourself.
Now that you’re aware of WeLoans, your next loan application should only take a few minutes. The easy process and quick funding will have you getting those financial hurdles out of the way within no time.
Also Read: WHAT ARE THE REQUIREMENTS FOR AN OWNER BUILDER CONSTRUCTION LOAN.
