LendWyse
Is This Your Business?Author: Kaitlyn Short
LendWyse offers loan services and funding solutions to individuals looking to reach a wide range of financial goals. The company has garnered an impressive network of reliable lenders to help clients shop around and identify the most favorable terms.
The main focus of LendWyse is to help clients take back control of their unique financial situation. The personal loans offered through LendWyse help solve a number of financial constraints clients encounter as well as fund endeavors individuals are embarking on.
Financial specialists help clients establish a direct path towards achievement while simultaneously building a framework that encourages healthy financial habits. While obtaining another loan, particularly a personal loan, may be daunting for those already in substantial debt, there are ways to make LendyWyse loans work towards your benefit.
Each financial consultant will go over the client's financial portfolio’s and delve into the background of each client’s financials. This allows LendWyse professionals to provide tailored and customized advice to help individuals eliminate debt, practice budgeting restraints, and weigh potential risk factors.
Top Ranked Companies
The Good
- Minimum Requirements
- Debt Solutions
- Financial Specialists
- Shop for Loan Options
Minimum Requirements
There are personal loan vendors that will require a great deal from clients in terms of meeting qualifications for approval. Whether it is a minimum loan requirement, a minimum monthly income, or a minimum repayment plan, these stipulations can keep many potential clients from accessing necessary personal loan programs.
The minimum loan requirements associated with LendWyse allow for a wide net of clients and financial situations to qualify. While most loans applied for through LendWyse start around the $5,000 limit, there are options for loans that fall under this minimum if necessary. Terms are generally favorable through LendWyse as well.
Debt Solutions
A key focus area of LendWyse clients is handling imminent debt payments. This is where an individual has debts that are due presently and substantial interest or penalties will apply if payments are missed. LendWyse personal loan options can help mitigate these present issues and put individuals back on a positive financial path.
Not all personal loan platforms offer terms that will benefit clients in the long run. These other providers may provide an initial stop gap but can cause long-term problems that will linger down the road.
Financial Specialists
A major draw to the LendWyse platform is its team of professional financial specialists. Each client will have access to their own financial specialist throughout the duration of the personal loan terms. These specialists provide the following services:
- Deep dive into financial situation
- Utilize best interests to provide quality solutions
- Offer catered advice to develop strong financial practices
- Provide beneficial budgeting strategies
- Mitigate unnecessary risks
Some personal loan providers offer a more automated service rather than a personal or customized one. LendWyse specializes in offering an individualized service to its clients.
Shop for Loan Options
LendWyse platform has a strong network of lenders. Some personal loan providers cherry pick from certain lending partners, which means that clients do not always get access or qualify for the best loan products for their particular circumstances. This can cost clients substantially.
The lender network through LendWyse enables clients to pick and choose from countless options ensuring that favorable terms are presented. Clients can get back on track financially when proper loan options and terms are agreed upon.
The Bad
- No Co-Signers
- Unknown Credit Score Minimums
No Co-Signers
A downside to the LendWyse personal loan products is the inability to utilize a co-signer or borrower. While there tend to be lower minimums for qualification through LendWyse, this will not apply to every single client that seeks out a personal loan.
Other providers may offer co-signer and borrower options to help those that would otherwise not be able to obtain a personal loan to actually access necessary funds. Those in need of this service may want to look for a different personal loan provider.
Unknown Credit Score Minimums
A major question among prospective personal loan clients concerns credit score requirements. Many personal loan companies will require minimum credit scores for loan approval. This is the case for most lending partners as well.
Unfortunately for LendWyse clients, the credit score minimums are unknown and undisclosed. Other contributing factors determine what the minimum will be in each case which is why credit score minimums are not publicly disclosed.
The Bottom Line
LendWyse helps individuals access favorable personal loans to either target debt or meet other financial constraints during times of need. The minimum requirements for LendWyse products are favorable, allowing clients to access multiple loan products.
LendWyse personal loans can help offset debts that are incurring substantial interest. It is a stop gap for those that need it most. Each client will have access to a financial specialist that will provide a number of valuable services and offer advice and expertise where warranted. Lastly, LendyWyse clients have access to a wide lending network ensuring some of the most favorable terms on loan products.
While there are a number of beneficial features associated with the LendWyse program, there are drawbacks and limitations prospective clients should be aware of as well. Those looking to utilize a co-signer or borrower on their personal loan will not be able to do so through LendWyse.
Additionally, it is unclear what credit score requirements need to be met in order to be approved for these personal loans.
Those looking to help ease the burdens of debt, consolidate, or utilize funds for another purpose in the near future will likely benefit from the personal loan solutions offered through the LendWyse platform.
