A simple loan refers to a credit market instrument giving the borrower an amount of fund that must be repaid to the lender at the date of maturity along with an extra payment (interest). Definition (2): A simple loan is also called a simple interest loan.

Is simple lending legit?

Loan Simple Reviews They are accredited with the Better Business Bureau, and currently enjoy an A+ rating with the company. At the moment, there are no customer complaints, but they have a 1-star rating based on five customer reviews.

Is simple a US bank?

Simple Finance Technology Corp. Simple was an American neobank based in Portland, Oregon. It is recognized as the first neobank. The company provided FDIC-insured checking accounts to US citizens, but not to Permanent Residents, through a partnership with The Bancorp Bank before transitioning over to BBVA USA in 2016.