Winship Lending Review

Winship Lending ReviewWinship Lending is not a direct loan provider, but a loan-matching platform that offers services for free. It is a meeting point of a borrower and lender. A borrower simply has to create a simple profile, and the platform will be the one to contact lenders in their network. The profile will be submitted to the lenders and the best product that meets requests and qualifications will be offered. Since it is a loan-matching website, products range from short, mid to long term loans, as well as merchandise credit lines and payday loans.

Winship Lending Review: Payday Loan Requirements

Borrowers can apply for payday loans at Winship Lending. Generally, they have to be 18 years old and up, and have a steady income stream. They would require a bank account to transfer funds and make payments. However, some requirements may be lender-specific. They can find short-term loans ranging from $10 to $1,000 backed by credit checks, security deposit or paper works. An individual who wants to borrow money can simply create a profile right at the website. He or she has to supply the initial information needed, including credit rate, income type, monthly income rate and zip code.

How It Works
The amount allowed to be borrowed will depend upon the borrower’s profile. If a lender approves, an amount of up to $1,000 will be sent to a checking or savings account. The repayment will then be debited on the next paycheck. The amount of repayment depends upon the agreed upon term. Basically, a borrower has to establish that he can repay the loan in order to be approved. Private information such as date of birth and account details should be provided.

Winship Lending does not charge fees to consumers. Once a lender and borrower are matched, the terms shall be presented to the borrower. This has to be reviewed carefully. Acceptance fee shall be charged once borrower accepts such loan offered by the lender, as well as if the latter charges any. Terms, fees and other details vary from one lender to another, and as a borrower, you are not obliged to accept one that you think is not favorable enough. Meaning, you can accept or decline according to your own free will.

It is the lender’s responsibility to provide consumers with all the costs they have to know about. These are expressed as APR or annual percentage rate of interest. This includes creditor’s identity, amount financed, annual percentage rate, itemization, payment schedule and number of payments. Interest rates also vary from one product and lender to another.

Consumer Protection
Consumers are protected by the Federal Equal Credit Opportunity Act for a fair loan transaction. After creating your profile, you do not have to wait long for the matching process. In fact, matching process takes only a few seconds. Winship Lending shows your profile to their network of lenders and match the best one that fits your criteria. If you agree with their terms and accept the offer, the cash will be transferred to your bank account. Of course, the time this takes also vary depending on your bank or the wire transfer. However, there are cases wherein a borrower receives funds in as quick as an hour.

Borrowers should remember that Winship Lending is not a direct loan provider. Any questions they want to raise will depend on the lender. These include rules on repayment, late payment charges and renewal policies. Once a loan is offered, it is crucial for the borrower to read and understand the terms to avoid any misunderstanding.

Our Recommendation
Winship Lending offers a good service to people who are looking for loan products that suit their need and capacity to pay. With the company’s vast network of lenders, matching loan requests and loan products could be less challenging. Potential borrowers have the opportunity to get the exact loan they want because there will be loan matching process which may take only a few seconds. The company provides various ways for customers to reach them. They have a customer service email, phone number and a mailing address. Since it is a web-based loan-matching platform, they only operate online. However, possible questions customers may raise are stated and answered at their website’s FAQ page.

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