No, we are not. Willow Loans offers a matching service, which allows you to submit one application to multiple trusted lenders. This permits you to find the right lender and loan for you without damaging your credit rating, as only one search is conducted as opposed to the several you would carry out without the help of Willow Loans.
Unsecured personal loans are typically repaid by the borrower in monthly installments. The terms and conditions of your loan will be outlined by the lender when the loan is finalized, prior to the funds being released to you. Repayment terms are specific to each lender, and may vary, therefore must be established before you agree to these terms. However, most loans require regular payments that will reduce the balance of the loan with incurring interest charges.
Willow Loans uses a trusted network of lenders that can offer you a personal loan ranging from $500 to $25,000 dependent on whether you meet the eligibility criteria of the specific lender. The amount that you are able to borrow will be based on a number of factors, including income and employment history. Before a lender decides whether you are a suitable candidate for a personal loan, they will conduct an investigation into your credit history, along with any other information that they believe to be relevant. The retrieval of this information is based on criteria, which may differ from lender to lender.
A personal loan is an unsecured loan that does not require collateral. Because personal loans are unsecured, they may carry higher interest rates, and some lenders rely on credit scores to determine interest rates for this type of loan. Certain laws and regulations regulate borrowing costs, which can vary with different lenders. If approved for a loan, your lender will discuss the rates and terms of your particular loan prior to finalizing the agreement.
Personal loans are available in all states. The lenders who Willow Loans will connect you with will analyze your financial needs, ensuring that you meet their set criteria, before offering you a personal loan that is tailored to suit you.
Credit is an important part of the loan approval process, but you can still be approved for a personal loan with bad or no credit. Our lenders consider credit an important issue when applying for a loan, but also take into account other factors as well. Of course, it is easier for a lender to approve a consumer with good or average credit than it is one with credit issues, but bad credit does not necessarily mean that a lender will reject your application. Income and employment status play a major role when a lender evaluates your current financial position. If you have past credit problems, but are working to rebuild your credit, lenders also take this into account when considering you for a loan. Even the most negative credit situations do not necessarily prompt a loan rejection.
The first thing to note, is that the sensitive data shared by yourself is safe and secure, and is encrypted using state of the art, online technology, only to be shared with trusted lenders. Your personal information is required to determine your eligibility for the loan for which you are applying. Lenders will use this information to check your credit history, income and employment status, and must have this information before approving you for a personal loan.
As we are solely a loan matching service, we are unable to project exact rates or terms, as these will differ from lender to lender and loan to loan. It is imperative that you obtain this information from your lender prior to agreeing to the terms of the loan, and you are entitled to this information at any point during the loan process.
Once you have submitted your completed application, Willow Loans will begin to match you with a lender who is able to meet your financial needs based on the information provided by yourself in the application. Willow Loans strives to pair you with the lender that can offer you the best terms, lowest interest rates and charges, and, once you have been approved, your lender will make contact with you to arrange finalizing the loan.
Once you have been approved for a personal loan, the lender will make contact with a view to completing the final steps of the process. Before receiving a check, all relevant paperwork must be completed, however it is possible to receive the check for your personal loan as early as the following business day.
Even if you have received one loan and feel that you are in control of your finances, we do not recommend taking out additional loans. Regardless of your financial circumstances, it is always best practice to repay one loan before taking out another one. If you are struggling to cover everyday living expenses and are considering taking out another loan, it is recommended to contact a professional credit counselor who may be able to offer practical, money managing solutions, as taking out another loan may result in further financial difficulty.
This is completely dependent on the discretion of the lender, who will endeavor to work with you to create a repayment plan that is best suited to you. Loan extensions may result in increased rates or additional fees, and the prospect of a loan extension should be discussed with your lender.
Whilst Willow Loans is here to process your loan application any time, day or night, we must adhere to usual business hours, including holidays. As a result of this, it is possible that your loan repayment may be collected a couple of days before its due date, and, similarly, the loan payment that is due to be sent to you could be delayed over the holidays, but will reach your account on the next working business day. It is down to you to take note of the following holidays, as they will have an impact on your loan:
New Year’s Day
Martin Luther King, Jr. Day
Here at Willow Loans, we have a trusted and expansive network of lenders, who have a set of criteria that must be met before qualifying for a personal loan. If you are unsuccessful in your application, it is possible that you have failed to meet all of the criteria as set out by the lender. As we are a loan matching service and not a lender, if you are turned down by a lender, it is important that you contact them to find out why.
In the event that you are not matched with a lender, there are a few steps that you can take to remedy this:
Try applying in regular business hours.
Your bank account may not be set up for direct deposit services, in which case you should converse with your bank, then make contact with the lender again.
If you have much outstanding debt, the lender may not be prepared to enter into a financial contract with you. In this event, make every effort to pay off the money that you already owe, and this will in turn improve your chances of getting a loan.
Willow Loans understands that not everyone has a checking account, and some lenders will be reluctant to give loans to those who don’t. If you only have a savings account, you can still apply for a loan, as we have a number of lenders in our network who will enter into a financial agreement and grant loans to those who only have a savings account, providing that you have a bank routing number. Just let Willow Loans know upfront on the application form and we will match you to the lender who can best suit your needs.
Even if this is the case, Willow Loans can still find the loan to suit you. As long as you can prove that your income is steady and consistent, Willow Loans will regard this just the same as income from employment. When completing our application form, ensure that your income sources go in place of the required employment information, such as type of sources, the date that you began receiving this income and you should also substitute your own phone number in place of the employer’s.
This is not a problem. As long as you have proof of identification such as passport or Social Security number, Willow Loans can still find the right lender for you.
No, we do not. As we are a loan matching service who will put you in touch with the lender, not the company lending you the money, any credit checks will be carried out by your lender.
You do not need to send anything to us. As we are only here to match you with the right lender, you will send any relevant documentation, proof of identity etc. directly to the lender. We will gather information about you initially to send over to the lender, but once you are matched with them, they will take over and let you know what they need from you.
Then what are you waiting for? Willow Loans are here for you, ready to find your perfect loan with the right lender and flexible, affordable payments. Alternatively, if you haven’t found the answer you’re looking for, please refer to the contact page to get in touch with us.
For any further questions, get in touch with Willow Loans via the contact page.
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When applying for a loan, lenders will look at your credit score to determine whether or not you can afford the repayments. Find out yours for free today.