Where does LendKey do business?
LendKey is based in New York, NY. It was founded in 2008 and offers access to personal loans in 45 states (and Washington, DC).
What are the APRs offered via LendKey?
LendKey offers personal loans with APRs starting at 6.74% and up to 12.49%.
Does LendKey charge an origination fee?
No, LendKey does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does LendKey charge a late fee?
Yes, LendKey may charge borrowers a late payment fee of up to $15
Does LendKey charge prepayment fees?
No, LendKey does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow via LendKey?
Loan amounts start at $5,000 and go up to $50,000.
What is the maximum loan term you can get with LendKey?
LendKey offers personal loans with terms ranging from 6 to 180 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with LendKey?
Applicants with a credit score of at least 660 can apply for a loan via LendKey. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a LendKey loan, applicants need a minimum annual income of $50,000 or higher.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via LendKey. Their rates fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Recent pay stubs
What is the estimated funding time for a personal loan via LendKey?
LendKey will typically approve (or deny) a loan application within 0 hour and fund personal loans within 7 business days of approval.
Does LendKey report loan payments to credit bureaus?
LendKey reports credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- South Carolina
- South Dakota
- Active Duty Military
- Military Dependent
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Employed Full-Time
- Employed Part-Time
- U.S. Citizen
- U.S. Permanent Resident
- Recent Pay Stubs
- Driver License (or other photo ID)
- Automatic Payments
- Check by mail