Willow Lake Lending Terms of Service

1. Acceptance of Terms

By accessing or using our website, submitting a loan application, or accepting a loan from us, you agree to be bound by these Terms, our Privacy Policy, and any additional terms provided at the time you accept a specific loan offer. These Terms constitute a legally binding agreement between you and Willow Lake Lending LLC.

We reserve the right to modify these Terms at any time. Material changes will be communicated via email or prominent website notice. Your continued use of our services after the effective date of any changes constitutes your acceptance of the revised Terms.

2. Eligibility

To be eligible for a Willow Lake Lending personal loan, you must:

Be at least 18 years of age (19 in Alabama, 21 in Mississippi); be a United States citizen or permanent resident; have a valid Social Security number; have a verifiable source of income sufficient to repay the loan; have a minimum credit score of 580 (FICO); maintain a US bank account capable of receiving electronic funds transfers; and reside in an eligible state.

States where Willow Lake Lending personal loans are not available: Iowa (IA), Vermont (VT), and West Virginia (WV).

Meeting minimum eligibility requirements does not guarantee loan approval. Approval is subject to underwriting review, income verification, credit assessment, and compliance with applicable state lending laws.

3. Loan Products

Loan amounts: $1,000 to $50,000.

Loan terms: 24 to 84 months.

Annual Percentage Rate (APR): 6.99% to 35.99%. Your actual APR will be determined based on your creditworthiness, income, loan amount, and term selected. APR includes interest and any applicable origination fee.

Origination fee: 0% to 6% of the loan amount, deducted from loan proceeds at funding. Not all borrowers will be charged an origination fee.

Autopay discount: A 0.25% APR discount is available to borrowers who enroll in automatic payment from a bank account.

Prepayment penalty: None. You may pay off your loan early at any time without penalty.

Late payment fee: Up to $15 or 5% of the unpaid installment amount, whichever is less. A grace period of 10 days applies before any late fee is assessed.

Returned payment fee: $15 per returned payment.

All loans are unsecured. No collateral is required. Loan funds are disbursed via ACH transfer to your designated bank account.

Representative example: A $15,000 loan with a 60-month term at 12.99% APR would have a monthly payment of approximately $340.55. Total amount repaid would be approximately $20,433. Total interest paid: approximately $5,433. (Assumes no origination fee; actual costs vary.)

4. Loan Application Process

The loan application process consists of: (1) Pre-qualification: provide basic information to receive a rate estimate with a soft credit inquiry — does not affect your credit score; (2) Full application: submit complete information including income documentation — subject to a hard credit inquiry; (3) Verification: income and identity verification by our underwriting team; (4) Offer review: review your approved loan offer(s) with complete APR, term, monthly payment, and total cost disclosures; (5) Acceptance & funding: execute loan agreement via electronic signature and receive funds via ACH.

We are required by the Truth in Lending Act (TILA) to provide you with full loan cost disclosures before you accept any loan. Please review all disclosures carefully before accepting.

Pre-qualification estimates do not constitute a loan offer. All applications are subject to credit approval. We may decline your application or offer different terms than initially estimated based on full underwriting review.

5. Credit Authorization

By submitting a full loan application, you authorize Willow Lake Lending to: obtain one or more consumer credit reports from credit reporting agencies; verify your identity and income through third-party verification services; contact your employer to verify employment and income; and obtain any other information we deem necessary for underwriting purposes.

This authorization remains in effect throughout the loan application process. The hard credit inquiry resulting from your full application may affect your credit score. We report your loan account information to Equifax, Experian, and TransUnion on a monthly basis.

6. Loan Agreement

Upon accepting a loan offer, you will enter into a separate Loan and Security Agreement ("Loan Agreement") that contains the specific legally binding terms of your loan, including precise APR, principal amount, monthly payment, total payments, payment schedule, and all applicable fees. The Loan Agreement, together with any required state disclosures, constitutes the complete and binding agreement for your loan.

Electronic signatures on the Loan Agreement are legally binding under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), 15 U.S.C. § 7001 et seq., and applicable state electronic signature laws.

7. Repayment Terms

Loan payments are due monthly on the date specified in your Loan Agreement. Payments must be made via ACH from a US bank account. Autopay is strongly recommended and earns the 0.25% APR discount.

If your payment due date falls on a weekend or federal holiday, your payment will be processed the next business day without a late fee. A 10-day grace period applies to all monthly payments before any late fee is assessed.

Partial payments do not satisfy your monthly payment obligation and do not prevent late fees. If you cannot make a scheduled payment, contact us at 1-800-555-4823 before your due date to discuss hardship options.

8. Prepayment

You may prepay all or any portion of your loan balance at any time without penalty. Prepayments reduce your outstanding principal and, consequently, the total interest you pay. Partial prepayments do not change your scheduled monthly payment amount unless you request a loan re-amortization. Early payoff may affect your credit score by reducing your credit mix.

9. Default & Collections

You will be in default if you fail to make any payment when due (after any applicable grace period), provide false or misleading information in your application, or file for bankruptcy protection.

Upon default, we may accelerate the full outstanding balance, report the default to credit bureaus, and refer your account to collections. We will make reasonable efforts to contact you before referring your account to a third-party collection agency.

Your rights as a borrower in collections are protected by the Fair Debt Collection Practices Act (FDCPA). If you are contacted by a debt collector, you have the right to request verification of the debt and to request that the collector cease contact.

10. Website Use

Our website is provided for personal, non-commercial use. You may not: use automated tools to scrape, crawl, or extract data from our website; attempt to gain unauthorized access to any portion of our website or systems; use our website in any way that violates applicable law; or reproduce, distribute, or create derivative works from our content without permission.

11. Intellectual Property

All content on this website — including text, graphics, logos, images, and software — is the property of Willow Lake Lending LLC or its content suppliers and is protected by US copyright, trademark, and other intellectual property laws. The Willow Lake Lending name and logo are trademarks of Willow Lake Lending LLC.

12. Disclaimers

FINANCIAL CONTENT DISCLAIMER: The articles, guides, and educational content on this website are for informational purposes only and do not constitute financial, legal, or tax advice. Always consult a qualified professional before making financial decisions. See our editorial disclosure on each page for information about our content standards and potential conflicts of interest.

WEBSITE DISCLAIMER: Our website is provided "as is" without warranties of any kind, express or implied. We do not warrant that the website will be uninterrupted, error-free, or free of viruses or other harmful components.

RATE ACCURACY: APR ranges and loan product information on this website are updated regularly but are subject to change without notice. Only the disclosures provided to you during the formal application process constitute legally binding rate information.

13. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WILLOW LAKE LENDING SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING OUT OF YOUR USE OF OR INABILITY TO USE OUR WEBSITE OR SERVICES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

In any event, our aggregate liability to you shall not exceed the greater of (a) the total fees you paid to us in connection with your loan application, or (b) $100. Some jurisdictions do not allow the exclusion or limitation of certain damages, so the above limitation may not apply to you.

14. Arbitration Agreement

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS.

Except for disputes that qualify for small claims court, you and Willow Lake Lending agree to resolve any disputes arising out of or relating to these Terms or your loan through binding individual arbitration rather than in court. By agreeing to arbitration, you and we both waive the right to a trial by jury and the right to participate in a class action or class arbitration.

Arbitration will be conducted by the American Arbitration Association (AAA) under its Consumer Arbitration Rules. You can obtain the rules at www.adr.org. The arbitrator may award any relief that a court could award.

You have the right to opt out of this arbitration agreement by sending written notice to us at 1 Willow Lake Plaza, Suite 400, Charlotte, NC 28202 within 30 days of first accepting these Terms. Opting out will not affect your ability to apply for or receive a loan.

This arbitration agreement is governed by the Federal Arbitration Act.

15. Governing Law

These Terms and any disputes relating to them shall be governed by the laws of the State of North Carolina, without regard to its conflict-of-law provisions, except to the extent preempted by federal law. For matters not subject to the arbitration agreement above, you consent to the exclusive jurisdiction of the state and federal courts located in Mecklenburg County, North Carolina.

16. Contact

Questions about these Terms? Contact us: