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Simple Path Financial

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Max. Loan Amount
$100,000
APR
5.99% to 36%
Min. credit score
N/A

Our verdict

Simple Path offers flexible loans no matter your financial history, but be aware of what you’re signing up for.

Simple Path Financial helps borrowers find personal, mortgage or business loans, no matter their financial history. If you don’t qualify for a direct personal loan with Simple Path Financial, they’ll connect you with lenders offering more flexible options. Be aware, though, as some borrowers have reported that consultants may suggest debt settlement programs, which can be confused with debt consolidation loans.

Best for: Borrowers looking for loans with flexible qualification requirements.

Pros

  • Low APR minimum of 5.99%
  • Expert guidance on application process
  • Quick turnaround time

Cons

  • Requires you to speak to a representative to complete the application process
  • All loans are subject to origination fees ranging from 1% to 5%

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Is Simple Path Financial legit?

Yes. Simple Path Financial is a BBB-accredited company with an A+ rating and thousands of 5-star reviews on Trustpilot. However, Simple Path Financial may refer you to other lenders or promote debt settlement services, which may not be what applicants want.

What makes Simple Path Financial shine?

Simple Path Financial works to make your lending process as smooth as possible with an easy application process and lenient qualification criteria. It offers a low minimum APR rate of 5.99% and has a strong track record of positive feedback from thousands of borrowers.

What separates Simple Path Financial from other lenders is their dedication to helping you find a financial solution, no matter your financial history. If you don’t qualify for a loan with Simple Path Financial, it refers you to a different lender and presents you with loan options that match your needs, something that many lenders don’t do.

Where Simple Path Financial falls short

Although Simple Path Financial offers many benefits, there are some drawbacks to be aware of. First, all loans are subject to origination fees. There are other personal loan lenders with no origination fees.

Simple Path Financial requires applicants to complete their application process over the phone. In some cases, this can help ensure you get a loan that is right for you. However, if you’re looking for a seamless online experience, you’ll have to look elsewhere.

Some customers complain about being sent preapproved loan offers only to be rejected once they contact Simple Path Financial. During the call, customers reported being pitched debt settlement services, which are not listed on the Simple Path Financial website.

Simple Path Financial loan details

Minimum credit score/credit rangeN/A
APR5.99% to 36%
Loan amounts$3,000 to $100,000, depending on your state
Terms18 to 36 months
Approval turnaroundWithin 48 hours
AvailabilityNot available in: Connecticut, Delaware, Georgia, Hawaii, Indiana, Maine, Minnesota, Mississippi, Nevada, North Carolina, Oregon, Vermont, Virginia, West Virginia
Fees1% to 5% origination fee
Other feesNo prepayment penalties or fees

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How to qualify for Simple Path Financial

Simple Path Financial loan qualifications vary by applicant and depend on the lender. Lenders may consider the following information:

  • Credit score
  • Employment
  • Tax history
  • Debt-to-income ratio

How to apply

You can follow a few simple steps to get started:

  1. Request a quote online or over the phone.
  2. Complete the application over the phone with guidance from a financial consultant.
  3. Accept loan terms.
  4. Get funds deposited to your account within 48 hours.

How Simple Path Financial compares to other lenders

Name Product USFPL Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg logo
7.99% to 35.99%
640
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Upstart personal loans
Finder Score: 4.2 / 5: ★★★★★
Bankrate logo
7.40% to 35.99%
300
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
Finder Score: 4.4 / 5: ★★★★★
Bankrate logo
8.99% to 29.99% fixed APR
680
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no required fees.
Upgrade
Finder Score: 4 / 5: ★★★★★
Bankrate logo
9.99% to 35.99%
580
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
LendingPoint personal loans
Finder Score: 3.3 / 5: ★★★★★
Bankrate logo
7.99% to 35.99%
Not stated
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
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Simple Path Financial reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.79 out of 5 stars, based on 561 customer reviews
Trustpilot Score 4.9 out of 5 stars, based on 3,206 customer reviews.
Customer reviews verified as of 29 July 2024

5-star reviews make up more than 95% of total customer reviews on Trustpilot and the Better Business Bureau (BBB) together. Positive reports praise Simple Path Financial’s customer service team for being effective, helpful and understanding of various financial situations. Customers report being seamlessly connected to a loan that matches their unique needs.

In the few negative reviews, customers report receiving a mailer claiming they’re prequalified for a loan. When they call to claim the loan, Simple Path Financial consultants reportedly deny the prequalified terms and instead promote debt settlement services. Another red flag to note is that 20 out of the total complaints on its BBB profile were reported in the last 12 months from the time of this writing.

Frequently asked questions

What are Simple Path Financial’s credit score requirements?

Simple Path Financial uses credit score, tax history, employment and debt-to-income ratio to determine loan terms. If one area is weaker, it assesses the strength of other factors to determine your eligibility. In short, Simple Path Financial can be lenient with credit score requirements depending on an applicant’s overall financial standing.

Is Simple Path Financial a good resource for debt consolidation?

Simple Path Financial offers personal loans for various purposes, including debt consolidation. However, given its history of promoting debt settlement services, borrowers should clearly understand the difference between the two strategies to avoid accidentally enrolling in a debt settlement program.

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