When it comes to We Lend USA, there are two types of people: those who think it’s a scam and those who think it’s legit. We’re here to clear the air and help you decide whether We Lend personal loans are worth your time (and money). In this We Lend USA review, we’ll go over what you can expect from this company if you decide to work with them. We’ll also cover the pros and cons so that you can make an informed decision about whether or not We Lend USA is right for you.
We Lend USA is a company that offers personal loans to people with bad credit. If you have bad credit, it can be difficult to get a loan from a traditional lender like a bank. We Lend USA specializes in helping people with bad credit get the money they need.
The application process is simple and straightforward. You can apply for a loan online or over the phone. Once you are approved for a loan, We Lend USA will deposit the money into your bank account within 24 hours. The repayment terms are flexible, and you can choose to repay your loan over 12 months or 36 months.
The interest rates at We Lend USA are higher than average, but this is to be expected when you’re working with a company that specializes in bad credit loans. The good news is that We Lend USA offers a discount for autopay, so if you set up automatic payments, you’ll save money on interest.
One of the biggest complaints about We Lend USA is that they don’t offer a grace period for late payments. This means that if you’re even one day late on your payment, you’ll be charged a late fee. While this policy is harsh, it’s important to remember that We Lend USA is the last resort for people with bad credit. If you miss a payment, it will reflect negatively on your credit score.
Overall, We Lend USA is a legitimate company that can help you get the money you need if you have bad credit. The interest rates are high, but this is to be expected. We Lend USA is a good option if you need a loan and can’t get one from a traditional lender. Just be sure to read the terms and conditions carefully before you apply. And remember, We Lend USA should only be used as a last resort. If you have good credit, there are better options out there for personal loans. But if you have bad credit, We Lend USA may be worth considering.
We Lend USA Pros and Cons
This lender has more cons than pros. We Lend USA is a DBA for Simple Path Financial, which is a bait and switch scheme. They have a lot of complaints. We do not recommend using this company’s personal loans.
We Lend USA Pros:
- It’s a legitimate company that can help you get the money you need if you have bad credit and debt consolidation is something you want.
- The application process is simple and straightforward.
- It offers a discount for autopay, so if you set up automatic payments, you’ll save money on interest.
- The repayment terms are flexible, and you can choose to repay your loan over 12 months or 36 months.
- The company offers personal loans, and if approved, it will deposit money directly into your bank account within 24 hours.
- You choose the interest rate and payment up front for personal loans.
We Lend USA Cons:
- We Lend USA is a DBA for Simple Path Financial.
- Simple Path Financial and We Lend USA use the bait and switch scheme.
- The interest rates are higher than average.
- One of the biggest complaints about We Lend is that they don’t offer a grace period for late payments. This means that if you’re even one day late on your payment, you’ll be charged a late fee.
- It should only be used as a last resort. If you have good credit, there are better options out there for personal loans.
Who owns We Lend USA?
We Lend USA is a DBA for Simple Path Financial. The company is owned by Mr. Bradley W Smith, CEO, and Mr. John Conzelman, Managing Partner. It’s a direct lender specializing in short-term loans for small businesses. The company was founded in 2014 and is headquartered in San Diego, CA.
We Lend offers personal loans, the loan amounts range from $7,500 to $100,000 with terms of up to 24 months. Loans can be used for working capital, business expansion, or equipment purchases. We Lend offers a bait and switch scheme where they target small businesses that are in need of quick cash. The company promises fast approvals and funding, but then baits and switches the business owner to a much higher interest rate loan.
This company is not a reputable lender and should be avoided. If you are considering taking out a loan from them, please do your research first and read reviews from other customers. Do not get scammed by We Lend USA!
How to cancel We Lend USA?
If you’re not happy with your personal loan, you can cancel it. Here’s what you need to do:
First, call their customer service at (877) 228-5306 and tell them you want to cancel your loan. They’ll give you a reference number for your cancellation.
Next, send a written cancelation notice to the company via email, fax, or regular mail. Include your name, address, phone number, and the reference number from customer service in your notice. You can use this cancelation notice template as a guide.
Finally, make sure to keep a copy of your cancelation notice for your records. Once they receive your cancelation notice, they’ll process it and send you a confirmation. Canceling your We Lend USA personal loan is easy, but make sure to do it within 60 days of taking out the loan. After that, you’ll be stuck with the loan until it’s paid off.
How do We Lend USA affect your credit?
We Lend USA performs a hard pull on your credit when you apply for a loan. This can damage your credit score, and make it harder to get approved for loans in the future. If you’re late on your payments, We Lend USA can also report this to the credit bureaus, which will further damage your credit score. Therefore, it’s important to be aware of how We Lend USA can affect your credit before taking out a loan with them.
We Lend USA BBB Reviews
We Lend USA doesn’t have a BBB account but we took a look at Simple Path Financial’s complaints since We Lend USA is a DBA for Simple Path Financial. Here’s what we found:
- Negative complaints about customer service
- Negative complaints about the loan process
- Negative complaints about the company’s communication
Here are some We Lend USA and Simple Path Financial BBB Reviews:
Complaint Type: Problems with Product/Service 07/23/2021
On Thursday, June 14, 2021, I received a call from *********, a customer representative with ******** Path. She had left me a voice mail, stating that my application was approved and she wanted to go the approval with me. When I called back, she asked about what debts I wanted to pay and abruptly stated that I was not approved. This after receiving the message that I was approved. This conversation took place on June 14, 2021, at 4:04 pm (EDT). Simple PATH’s records should be able to confirm the aforementioned.
Complaint Type: Advertising/Sales Issues 05/14/2020
I contacted Simple Path Financial based on a mailer I received stating that they offered rates starting at 5.99% for a $20K loan for 36/60 months. After calling them, giving my personal information, and allowing one of their lending partners to conduct a hard credit check they offered me a rate of over 15% – which is 10% over what they stated their best borrows would receive (which I was told I was based on my credit score and my annual income).
Kenneth K 04/21/2022
I applied online and was automatically refused due to my credit. Now they won’t stop calling me, saying they can help? How can you help when you already denied me? Seems like high-pressure tactics to me.
Is We Lend USA legit?
We Lend USA is a DBA for Simple Path Financial, and as such, shares the same negative complaints as its parent company. Both companies have been accused of being a scam, and both have received thousands of negative reviews. If you’re considering doing business or taking out a personal loan with We Lend USA, we recommend that you proceed with caution.
There are many other reputable companies out there that can provide you with the same services without the negative baggage. Do your research and choose a company that has a good reputation. That way, you can avoid getting scammed.
Did you find this We Lend USA Review helpful? Have you had a loan through We Lend USA? How was your experience? Good or bad, we want to hear about it in the comments below! Thanks for reading!
How does a personal loan work?
A personal loan is money lent to you through a financial institution, such as a bank or online lending marketplace, that you can use to pay off credit cards, consolidate debt, and cover many other expenses.
For a We Lend USA personal loan, what is the minimum credit score?
For a We Lend USA personal loan, 640 is the minimum credit score.