Willow Loans Review

Willow LoansWillow Loans says they can get you pre-approved for a personal loan the same day you apply, by finding you the lender that is best suited to loan you the money. In an unusual claim they say they can get loans up to $20,000 or more, and you can choose repayment terms that go all the way up to 60 months.

They say you can get your cash as fast as tomorrow, which is a pretty common claim in the payday loan industry. They list the APR as being between 4.99% and 35.80% percent, which is pretty low considering that most payday loans go for 500% to 700% or even 1000% or higher.

They say it’s a simple three step process, just fill out their secure, easy online application, get a preapproval in minutes, and then get cash deposited into your bank account. We did notice that they are hosting their entire site on a secure server, so you are dealing with a secure connection while you are on their site. The one thing we did notice is that when you do submit their very brief application, you are forwarded to another site that is called Payday 411. From there you basically click on an application button for a different site based on the criteria you originally entered.

Willow Loans Review – What Are They Really?

Willow Loans is not a direct lender, and they don’t appear to be much of a matching service either. Depending on the information you enter into their very small form, you will be taken to some pretty standardized lenders, and it doesn’t seem like too much variation is in play based on the information you provide. Of course if you do want a very large size loan, they will send you to Prosper, and if you want smaller loans they will try to forward your loan to one of their payday lenders. A true matching service should really delve into your information and only match you with lenders that are guaranteed to want to loan to you if your information checks out. This is more of a referral service, where no matter where you live they will send you to one of their national payday partners.

Pre-Approval
Saying that you are pre-approved is pretty much meaningless because they don’t collect enough information about you to make that kind of determination. They are basically taking the bare bones data that you provide and showing you lenders that may lend to you as long as you are providing accurate information and can back up your claims on how much you make per month and how much of a loan you want to get.

$20,000 Loans!
Willow Loans boasts that they can give you loans up to $20,000 or more, but then they are quick to point out that not every lender will loan $20,000, and in fact not every borrower that requests that amount will receive it. The same can be said for the 60-day repayment period, that is something that only some borrowers would be able to get approved for.

Flashy But Empty
What we noticed is that while the site looks great, and functions properly, with nice security features built-in and what seems like a lot of information provided, there really isn’t a lot going on as far as this being a company that will loan you money directly, or even spend a lot of time matching you with the right lender. It seems really cookie cutter, and that they treat every single person that comes to the site the same without any consideration of their personal situation or financial data.

Our Recommendation
Willow Loans is not going to get our recommendation because we don’t feel that they are a value-added provider of any service. They are basically making it seem like you are pre-approved, when in reality you are not, and they make it seem like they are matching you with lenders, when really they are just pointing you to lenders that may or may not lend to you and you may not even want to take out a loan with them. It seems that based on your location and a few minor details, they will just present to you what is available. This would best be likened to a payday directory instead of a matching service.

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