Simple Fast Loans: Use One of These Alternatives Instead
Simple Fast Loans installment loans isn't available on Finder right now.
- Min. Amount
- $200
- Max. Amount
- $3,000
- Turnaround time
- Same or next business day
Our verdict
With limited information available online, you may want to consider other options.
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, which means you won’t know your terms, rates or fees until your funds are disbursed.
Although Simple Fast Loans is not accredited with the Better Business Bureau (BBB) and has several complaints filed against it, it maintains a nearly perfect 5-star rating on Trustpilot based on thousands of reviews.
You can compare more short-term lenders to find out what APR you can expect when you apply.
Best for: Borrowers with bad credit who need quick funding.
Pros
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Quick decisions and same-day funding available
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Bad credit OK
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No collateral
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Loan amounts from $200 to $3,000
Cons
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Its website is difficult to navigate
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Not transparent about fees or interest
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Limited state availability
Is Simple Fast Loans legit?
Simple Fast Loans is legit. It is a fully licensed financial service company that adheres to all state and federal lending regulations. On its site, the company states that it closely follows the Truth in Lending Act (TILA) and discloses any fees along with the loan terms for each loan issued.
It also has a secure website and a clear privacy policy. It won’t sell your information — although it may share it with other companies. You can opt out by contacting Simple Fast Loans by phone or email.
What makes Simple Fast Loans shine?
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 and $3,000, and loan terms last anywhere from 3 to 12 months. As its name suggests, you get your loans quickly. In fact, you can get a decision immediately on your application, and if approved, Simple Fast Loans promises same-day funding.
Simple Fast Loans also helps borrowers with less-than-perfect credit by using alternative credit bureaus to take a more holistic look at an applicant’s financial situation beyond their credit score. It considers factors like income stability, employment history and payment behavior.
Where Simple Fast Loans falls short
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 means you can’t estimate your costs until after you submit your personal information. Also, Simple Fast Loans is not available in all US states.
Simple Fast Loans product details
| Product Name | Simple Fast Loans installment loans |
| Loan amount | $200 to $3,000 |
| Loan Term | 3 to 12 months |
| Turnaround Time | Same or next business day |
| Requirements | Bank account, valid phone number, resident of serviced state |
Simple Fast Loan contact info
| Phone number | 866-521-1445 |
| Customer service hours | Weekdays, 9 a.m. to 7 p.m. ET |
| customerservice@simplefastloans.com | |
| X (formerlyTwitter) | @SimpleFastLoans |
| @SimpleFastLoans |
Calculate your monthly loan payments
To find out how much your monthly loan payments might be with Simple Fast Loans, use our personal loan calculator.
Monthly repayment calculator
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How to qualify for Simple Fast Loans
To qualify for Simple Fast Loans, you don’t need good credit or a credit history. Instead, you can prove your ability to repay the loan in other ways, like your employment history or income stability. You will need to meet these criteria to apply:
- Valid phone number
- At least 18 years old
- Resident of a serviced state
To qualify for a personal loan, you must reside in one of these states: Alabama, Alaska, Arkansas, Arizona, California, Delaware, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nevada, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Wisconsin and Wyoming.
Simple Fast Loans offers and markets installment loans in Alabama, Alaska, Arkansas, Arizona, California, Delaware, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, Montana, Nevada, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Wisconsin and Wyoming.
How to apply
To get started, follow these steps:
- Visit Simple Fast Loans’ website to access its application.
- Enter your personal information, including your Social Security number, date of birth and driver’s license number.
- Provide your address, time at residence and phone number.
- Choose your employment status and include information about your income and bank account.
- Select your loan purpose and review Simple Fast Loans’ disclosures.
When you submit your application, Simple Fast Loans lets you know if you’ve been approved for the amount you requested, approved for a lower amount or denied. If approved, you can finalize your documents and receive your loans within a few business days. And if you’re approved before 11 a.m., you might receive your loan funds the same day you apply.
What documents do I need to apply?
To get started with an application, you’ll need to provide some basic information about yourself:
- Government-issued photo ID
- Recent pay stub
- Proof of checking or savings account
- Social Security number
- Date of birth
I got an installment loan. Now what?
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. Paying more than the minimum helps cut back on the amount you owe toward interest.
If you have any questions or issues, contact Simple Fast Loans by phone, email or live chat.
Simple Fast Loans offers a quick process, but other short-term loan options have more transparent rates and terms, helping you make the best decision for your finances.
Compare alternatives to Simple Fast Loans
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 reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 1.41 out of 5 stars, based on 44 customer reviews |
| BBB customer complaints | 39 customer complaints |
| Trustpilot Score | 4.9 out of 5 stars, based on 13 customer reviews |
| Customer reviews verified as of | 05 October 2024 |
On the BBB, many 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.
On Trustpilot, however, there are far more reviews with customers seeming satisfied overall. With over 13,000 reviewers, Simple Fast Loans earned a nearly 5-star rating, with customers praising the company for the fast, easy application and for receiving funds quickly.
What do people on Reddit say?
Frequently asked questions
When will I be able to view my rates?
Simple Fast Loans lets you preview your potential APR and monthly payment after you submit an application for preapproval. However, this isn’t set in stone, and you need to finalize your application to see your actual loan terms.
Will borrowing from Simple Fast Loans impact my credit?
While preapproval won’t affect your credit score, Simple Fast Loans checks your credit once you actually apply, which could lower your score. However, it doesn’t report your payments to any of the major credit bureaus, which means repaying the loan won’t improve your credit.
How long does it take Simple Fast Loans to deposit the money?
Simple Fast Loans typically deposits approved funds into your bank account as soon as the next business day. However, this timeline can vary based on the time of loan approval and your bank’s processing times.
Is Simple Fast Loans a direct lender?
Yes, Simple Fast Loans is a direct lender. It processes your loan application, approves the loan and disburses funds directly to you without involving third-party lenders.
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