- Best for borrowers with bad credit who need quick funding.
- Pick something else if you want upfront info about rates and terms.
Simple Fast Loans is best for borrowers who don't want to waste time filling out a long application. Like other short-term lenders, its loans are geared toward borrowers with bad credit.
But this means you'll likely face high APRs. Simple Fast Loans isn't transparent about its costs. Instead, it directs you to fill out its preapproval application to find out your potential rates.
There is also a high volume of complaints filed against it — so it may not be the easiest service to use.
You can compare more short-term lenders to find out what APR you can expect when you apply.
|Product Name||Simple Fast Loans installment loans|
|Loan Term||3 months to 1 year|
|Turnaround Time||Same or next business day|
|Requirements||Bank account, valid phone number, resident of serviced state|
Simple Fast Loans is a short-term lender that offers installment loans, lines of credit and title loans — although availability depends on your state. You may be able to borrow between $200 to $3,000, and loan terms last anywhere from three to 12 months.
However, Simple Fast Loans isn’t transparent about its APR. When we contacted customer service, they told us that you need to apply for preapproval to preview rates. This won’t affect your credit score, but it does mean you won’t be able to estimate your costs until after your submit your personal information.
Simple Fast Loans offers installment loans to residents of 10 states:
It also offers lines of credit to residents of Alabama and Tennessee as well as title loans to residents of Arizona.
Before signing up with Simple Fast Loans, check out even more providers that may be able to provide potential rates before you apply.
Simple Fast Loans has a limited number of reviews on its Better Business Bureau (BBB) page, but there is a high volume of complaints. Here’s a brief review breakdown:
|BBB customer reviews||1.4 out of 5 stars, based on 10 customer reviews|
|BBB customer complaints||26|
|Customer reviews verified as of||30 October 2020|
Most customers state that they were approved for a set amount but never received their funds. Others had problems with the high cost — but details are unavailable for a large majority of complaints. Before signing your loan agreement, make sure you understand the full cost of your loan and have the ability to repay it on time.
Simple Fast Loans does not list any specific requirements on its website, but you will need to meet these three criteria to apply:
To get started, follow these steps:
When you submit your application, Simple Fast Loans will let you know if you’ve been approved for the amount you requested, approved for a lower amount or denied. If approved, you’ll be able to finalize your documents and receive your loans within a few business days. And if you’re approved before 11 a.m., you may be able to receive your loan funds the same day you apply.
To get started with an application, you’ll need to provide some basic information about yourself:
To start making payments, log in to your Simple Fast Loans account by visiting the Make a payment page and entering your Social Security number, date of birth or account number and last name.
While Simple Fast Loans only requires you to make minimum monthly payments, try to pay as much as possible each month. This will help cut back on the amount you owe toward interest.
If you have any questions or run into any problems, contact Simple Fast Loans by phone, email or live chat.
Simple Fast Loans offers a quick process, but there are more short-term loan options with more transparent rates and terms so you can make the best decision for your finances.
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