Georgette N.
Quick response but beyond predatory with interest rates
So, here's the truth. I was desperate and Willow Lending came through. Why am I giving it one star? I borrowed $510 because that is the exact amount of money I needed. I have made 5 payments of $136 and decided to find out what the interest rate was. Only $4 goes to the principal!!!!!!!! That is beyond predatory. I am grateful to have this but there has to be a way for people to not pay upwards of $2000 in interest for a $510 loan.
Response from Willow Lake LendingNov 10, 2025
Hi Georgette, thank you for reaching out, we are always here to help. We are firmly committed to ensuring that our customers have a clear understanding of the fact that this is an expensive form of borrowing. As such, we make it a top priority to provide them with a comprehensive breakdown of our rates and terms, while also providing full disclosure on all fees associated with the loan well before originating the loan. Our goal is to ensure that our customers are fully informed and equipped to make informed decisions regarding their borrowing needs, while also fostering a culture of transparency and trust in all our dealings. We strongly encourage our customers to take advantage of our no pre-payment penalty policy by paying off their loan early. Doing so will result in substantial savings on interest charges. Additionally, customers have the option to make additional payments towards the principal balance of the loan, which can help reduce the overall cost of borrowing. We believe that these options provide our customers with greater flexibility and control over their finances. In reviewing your account, we see that you have spoken with a Customer Care agent who was able to satisfactorily address your requirements. We are delighted to have been able to assist you in establishing a payment schedule that meets your needs. If you have any additional questions, please reach out to us at [email protected] or (855) 857-5253. Thank you.