Are you storming up the internet and asking everyone, “Is the American emergency fund legit?
Well, you may end your quest here because I have the exact answer to your question. The American Emergency Fund is not technically a scam; however, it may as well be.
If you are desperate enough to find out about the legitimacy of the fund, you surely have seen advertisements for loans from the American Emergency Fund, which offer you $5,000 or even more. You surely have noticed the multiple comments below that praise the company for its best loan options.
This is where I would suggest you hold onto your horses and not get too excited. At the same time, the site appears totally fine and may not be a scam. There are a couple of red flags that you may have ignored in your past relationships, but here, you must not.
In this article, I will take you through every detail about the American Emergency Fund so I can finally answer your question: “Is the American Emergency Fund legit?”
The American Emergency Fund: An Overview
The American Emergency Fund advertisement appears on multiple social media platforms, including Instagram, Facebook, and many others. If you click on these advertisements, you will land on the American Emergency Fund website. This is where you may apply for the loan of your choice.
The website has a perfectly crafted and professionally designed appearance. Once you reach the website, you will find the option where you may straightaway apply for the loan. You may also learn about the different types of loans that are available to you and read the basic terms of the loan as FAQs. Basically, this website has everything that an individual needs to get help while applying for a loan.
The biggest twist of the American Emergency Fund is that it is not really a loan provider- it only connects the loan seekers with loan providers.
This raises a question about how the business operates and where they get the loan from.
How Does The American Emergency Fund Operate?
The American Emergency Fund website is not a typical loan provider. It is an affiliate website that connects two people – the loan seeker and the loan giver.
The operators of the website clearly state that they do not take the responsibility of representing any lender. They just collect and forward the information of the applicant to the lenders they partner with.
The disclaimer on the website also states that if you are not willing to share your personal information, you must not apply for the loan either. While you may question if the “American emergency fund is legit?” based on this, there are multiple websites that urge you to follow the exact same process. Therefore, the call is yours to make.
Depending on this, the loan process goes as follows:
- The customer applies for a loan on the website.
- The website shares your data and information with the lenders.
- If the lender accepts your loan application, they will contact you via the information that you provide on the application.
- Following this, the whole process goes through an identical pattern, just as any regular loan procedure.
In essence, there is only one difference: you apply for the loan not directly to the lender but through a website.
Is The American Emergency Fund Website Reliable?
While the American Emergency Fund website is a well-designed platform, which has a clear outline of each and every detail that the applicant should know while they are applying for a loan, there are a couple of red flags that didn’t go unnoticed.
First of all, the domain of the American Emergency Fund has a registration date of January 2023. At the time of writing, the fund just started its operations only a couple of months back. This is one of the signs of a website that you may not trust. Since the business has no track record and has been operating for only a few months, it is fair to be suspicious.
Not just that, the contact information on the website indicates that the company TPOLTECH, Inc. powers the website. However, the Google Business listing of the company suggests that the business has closed permanently. One, you can never be sure if the information on the website is 100% genuine.
As for the concern about the interest rates, ScamAdviser, on their YouTube channel, once shared a story of an individual who applied for a loan via the website of the American Emergency Fund and got an offer of $1,500 at 777% interest. This horrible amount will land the borrower in a position where they have to pay more than the loan amount they receive. Although, the rate of interest is different among different lenders. This example was just an example of how ruthless things can get.
The same person also reported that the phone call from the lender was not from a U.S. number. This means your information may be shared with international lenders. Since the rate of interest of the lender depends on what country you are in, you might have to pay more interest in comparison to the one you pay in your country.
Is It Safe To Apply For A Loan On The Website Of American Emergency Fund?
Well, now that you know of the red flags that are clearly sticking out, it is safe to say that this is not the safest website or platform to apply for a loan. However, the decision is yours to make.
Some of the reasons why I would definitely not recommend anyone to apply for a loan through this website are:
Since the website is not a lender itself, even if you are applying for a loan, the chances of getting the money are quite low.
The applicant of the loan has to share vital information like their name, employment details, address, the ending digits of their Social Security Number, and a lot more. This may lead to a case of identity theft.
The website mentions that they will share your information with five lenders. But, you will never get to know who these five individuals are. If the lenders decide to share your data with other people, there is nothing you can do about that.
The operators of these websites get compensation from the lenders and maybe from each of the leads. So, you could just end up finding a better deal if you reach out directly to the lenders.
The Bottom Line
I am hoping that I have clearly answered your question, “Is American emergency fund legit?”. Well, there is no guarantee that the fund is legit. There are many reasons why you may get suspicious of its operations.
It is not even a loan provider in itself; it just works as an affiliate.
Therefore, if you are still willing to apply for it, you must do it at your own risk, as the website may not be credible for any damage done to your money or your data.