Is Simple Path Financial Legit Or Scam? – Here’s The Truth

Simple Path Financial is popular because it can offer you loans even if you have a poor financial history.

Here, you can avail of personal, mortgage, and small business loans. Moreover, even if you do not qualify for a Simple Path loan, you can find other lenders on the platform offering flexible options. 

In this article, you will learn about the legitimacy of the Simple Path Financial platform. Apart from that, the article will also provide you with comprehensive details about what this financial platform offers.  

Moreover, you will learn about the pros and cons of this loan provider. Hence, to learn more, read on to the end of the article. 

Simple Path Financial: What Does It Offer? 

As per claims, Simple Path Financial is a loan referral company. According to the company’s website, it lends to people who qualify for their loans.  

Apart from that, it also funds loan and mortgage requests through third-party lenders. Hence, the signs your loan will be approved are high. 

Additionally, the company also claims to operate as Simple Patch Financial and Kuber Financial. Also, they have proper licenses to operate as a financial service provider.  

However, as per some reports from borrowers, the consultants of this company may suggest debt-settlement programs. Hence, many borrowers end up confusing these with debt consolidation loans. 

Basically, if you are looking for loans with flexible qualification requirements, then Simple Path Financial is best for you. For instance, even if you are struggling with EIDL loan forgiveness, you can easily avail yourself of a loan.  

Is Simple Path Financial Legit?

Yes, Simple Path Financial is a legitimate financial service provider. It also has BBB accreditation and an A+ rating. Moreover, customers also reviewed the company as a 5-star brand on Trustpilot.  

Once you apply for a loan, Simple Path Financial checks whether you are eligible for the loan or not. However, if you are not, they refer your application to other lenders on the platform. In other cases, they even promote debt settlement services, which loan applicants do not generally like. 

However, before applying for a business loan,  determine, “Is a small business loan secured or unsecured?” On the other hand, when looking for personal loans, make sure to compare offers available to you. 

Generally, personal loans, offer different terms, fees, interest rates, and reviews. Hence, you need to narrow down your choices once you know what you need. 

Most personal loans you apply for with any financial service provider range from $1,000 to $50,000. Also, the repayment period is of up to seven years. Moreover, the APR value ranges from 8 to 36 percent. However, this depends on factors, like your credit score and loan history. 

Simple Path Financial: Essential Loan Details 

The following are some essential aspects of Simple Path Financial loans that you need to learn about: 

You can see that the variation and the range of the APR score are quite high. This big difference is in place because of the difference in the situation of many borrowers.

For instance, if your financial condition and loan status are not that great, you will have to pay a higher APR fee for your loans. 

In addition to that, one of the good things about Simple Path Financial is that you will have expert guidance on the loan application process.  

Moreover, the turnaround time is also low. It means that once you apply for the loan, you will get it within a short period (probably within a day or two). 

However, when you apply for a business loan, you must speak to a loan representative if you want to complete the application process. In addition to that, no matter which loan option you apply for, you must pay the origination fee for those loans. Generally, the origination fee ranges from 1% to 5%. 

Pros And Cons Of Simple Path Financial 

You need to learn about how Simple Path Financial can impact your loan application process.

The following are the major pros and cons of Simple Path Financial that you need to learn about: 

Pros 

One of the best things about Simple Path Financial is that it comes with an easy loan application process. This helps to make the lending process smooth for borrowers. Moreover, borrowers generally face lenient qualification criteria.  

Additionally, this lender platform also offers a low APR rate if you have a good credit score and financial stability. Furthermore, it has received multiple good reviews from thousands of borrowers. 

One major aspect distinguishing Simple Path Financial from other lenders is their ability to provide you with a solution. Basically, even if you do not have a good history of borrowing and repaying loans. 

You can still secure a loan under certain conditions. Hence, there is something for everybody.  

However, if you do not qualify for a Simple Path Financial loan, they refer you to another lender present on their platform. Basically, on that platform, you can find other lenders who offer you various loan options. Hence, there is a high chance that one lender will match your needs well. 

Here is a list of the major pros of this financial service provider: 

• Offers a low APR, which goes as low as 5.99% 

• You get expert guidance while you apply for the loan. 

• The loan turnaround time is quite fast. 

Cons 

Although there are many benefits of choosing Simple Path Financial if you want a loan, there are a few cons you need to be aware of. One of the major cons is that origination fees are applicable for all loans. Actually, you can find many lenders who do not ask for any origination fee. 

Apart from that, as a loan applicant, you must complete your application process through your phone. This can help you determine whether a loan is right for you or not. However, this can not be a seamless experience as you might get with online loan services. 

For example, there were many complaints from borrowers who received only preapproved loan offers. Moreover, they were rejected after they tried to contact Simple Path Financial, Furthermore, many people complained that the company pitches debt settlement services. This is very different from what the company claims on its website. 

Here is a list of cons about Simple Path Financial that you need to be aware of: 

• You must speak to a representative by phone before the application process. 

• Some loan agreements come with origination fees ranging from 1% to 5%. 

• In some cases, there have been reports of companies offering debt settlement services. 

• It is not available in fifteen states in the US. 

Qualifying For Simple Path Financial Loans 

The following are some of the factors that you need to consider if you want to qualify for Simple Path Financial loans: 

Lender Requirements 

Here is the significant information that you need to provide to lenders: 

• Credit Score 

• Employment information or Years in Business 

• Tax History 

• Debt-to-Income Ratio 

Here, if one area is weaker, the lender evaluates the strength of other factors. This helps you a lot in the eligibility process. Moreover, in some cases, this financial provider is also lenient with credit score requirements. 

Application Process 

The following are the major steps you need to follow if you want to apply for a loan with Simple Path Financial: 

1. Go to the Simple Path Financial website and request a quote. You can also call them over the phone to learn more about loan options. 

2. The application process happens over the phone. Here, the loan consultant gives you full information about loan options and recommends the best solution. 

3. Once you find the loan option that meets your needs, you must accept the loan terms. Then, you need to confirm your loan to the loan consultant. 

4. Send all necessary information to the lender and wait for verification. 

5. After the verification process ends and you qualify for the loan, the lender at Simple Path Financial will be ready to offer the loan. Then, once you give your bank account details, the funds will reach your account within 48 hours. 

Simple Path Financial: Is It Good For Debt Consolidation? 

One of the advantages of choosing Simple Path Financial is that you will get loans for various purposes. Even if you want a loan for debt consolidation, you will get the option with this loan service provider. 

However, many borrowers complained that this company promotes debt settlement services. Hence, in such cases, you must point out and understand the difference between the two.  

Basically, you need to make sure that you do not end up enrolling in a debt settlement program instead of a debt consolidation program 

Do you have more information to share about Simple Path Financial? Please share them in the comments section below. 

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