WeLoans is an online service that helps people get loans by connecting them with its network of lenders. If you want to connect with the right lenders in an easy-to-use way, WeLoans is a good option for bad credit installment loans.
WeLoans has more loan options than just installment loans. These include loans for people with bad credit, short-term loans, same-day loans, title loans, and so on.
How does it work?
WeLoans makes it easy for borrowers to connect with lenders. Once borrowers fill out the application page with their information and loan requests, the matching lenders in the WeLoans network will handle the requests and approve loans as soon as possible. Later, it will be up to the person taking out the loan to choose the best lender and payment plan.
To be eligible for a loan on WeLoans, however, a borrower needs to be a US citizen with a valid ID, a bank account number, and a steady source of income before any preparation work is done.
Advantages and disadvantages
- The online system is easy to use and clear.
- There are many loan options to meet different needs.
- Fast connections with lenders who can be trusted
- $5,000 maximum loan limit
- Not a direct lender.