Simplified Loan solutions gives personal and business loans with special underwriting in the United States. In this article, I will show you all that you need to know about Simplified Loan Solutions underwriting, its legitimacy, reviews about it as well as how to get started with them and so much more. So stay tuned and read with us to the end.
To begin with, let’s get a brief overview of what this platform is all about. Simplified Loan Solutions is a lending platform that issues commercial (business) and personal loans. The loans can be used for whatever purpose the individual or company chooses to do but will be repaid at an agreed date. It is currently only available in the United States. And you can get up to $75,000 loans and its terms are quite flexible. However, it uses a unique underwriting loan method. You will get to learn about the method as we proceed in the article.
Not so many people are familiar with this platform because it is new and this has raised a lot of questions that will be answered and certain views that will be clarified in this article. So, if you want to know the Simplified Loan Solutions underwriting and confirm if the platform is legit, then roll with me to the next paragraph right away.
Simplified Loan Solutions Underwriting
This platform claims to have unique underwriting that makes it easy for people to get approved for loans without much time and energy wastage. This innovative method according to them makes the entire loan process a walk in the park. Let us see what loan underwriting is and what makes up Simplified Loan Solutions underwriting.
Here is what loan underwriting means in its simplest form. It is the process of critically checking and thoroughly evaluating the creditworthiness of the borrower. This is to ascertain their ability to repay the loan and the value of the collateral security that was put up for the loan. This is done by looking deeply into some factors on the borrower’s documents, collecting more data, conducting interviews, etc. See the determining factors below.
- The credit history of the borrower
- The borrower’s income.
- The employment status of the borrower
- The purpose of the loan
- The debt-to-income ratio of the borrower
All of these are necessary as they help to know and determine the risk associated with such a loan, especially as it relates to every borrower independently. And by doing so, certain unique terms and conditions can be set for that borrower. And at the end of the day, the organization can come to a well-informed conclusion about giving the loan to the borrower.
The Simplified Loan Solutions underwriting is necessary as it is a vital step that helps to ensure that the loans are not given to people who will not be able to repay. In other words, it helps to understudy the borrower before approval to determine their ability to repay and if found wanting, they are either denied the loan or simply alternatives. This is interesting, right? Wait! Don’t jump in on it immediately. Let’s see if this platform is legit in the next paragraph.
Is Simplified Loan Solutions Legit?
It is difficult to determine if the Simplified Loan Solutions platform is legit or a scam right now. This is because it is still very new and not so many people are aware of it or have used it. We hope that with time, the platform will become popular and we will be able to give a clear opinion about it.
However, some websites are of the view that the loan is a scam as random numbers call people to inform them of loan pre-approval. Sometimes, phony emails are sent requesting users’ data and other info. This has made them come to the conclusion that it is a scam.
Also, the company has no official website where more information about them can be gotten. This greatly suggests that there might be some phishing undertone to the company. And so far, the available reviews about the company are negative. See some reviews below.
Simplified Loan Solutions Reviews
Here are some reviews about Simplified Loan Solutions that were randomly sampled from the internet.
“Scammers are using 0203 phone numbers to give the appearance of being located in London. This so-called company has called me numerous times over the last few weeks from different numbers and always from an Indian Call Center”
Another review reads
“Hey everyone I have just received a telephone call from this number and I know it is a scam and I don’t think this is a real loan company as always I ask who is calling from their end. I NEVER EVER DECLARE MY NAME, UNTIL I AM HAPPY THAT THIS CALL IS REAL”
There are also reports of customers losing as much as $2500 without getting any loan from the organization.
Furthermore, the company has a rating of 1.5/5 stars on Trustpilot. On other platforms like Yelp, Reddit, BBB, etc, it rates 1.0/5 stars. This rating is poor and further points to the view that it might be a scam and should not be trusted.
How To Get A Simplified Loan Solutions Loan
The following are the steps to take in applying for a loan from this platform.
- Visit their online platform or call the lender.
- Fill out the application form that will be issued to you
- Provide your documents and data with collateral.
- Go through the terms and conditions of the loan.
- Accept the loan offer
- Receive the loan.
Simplified Loan Solutions Phone Number And Calls
The phone number of the company is not available in the public domain for anyone to call. Hence no one can tell the authenticity of the calls claiming to be from the company.
Simplified Loan Solutions vs Simplified Lending Solutions
Simplified Loan Solutions is different from Simplified Lending Solutions. They gave similar names but their ownership and method of operation are different.
We have so far examined what Simplied Loan Solutions is all about including its terms and underwriting. We can not categorically state that it is a scammer or legit, the reviews speak for themselves.
It is however advised that before doing business with any lender, carry out a legitimate avy check on them by visiting their websites, reading reviews about them, and verifying their documents with better business bureau. I hope this comes as a relief to you.