Last Updated: 04/18/2025
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Highlights
APR (Variable APR)
N/A
Amount Range
Up to $2,000
Loan Term (Months)
Starting at 12
Lendly Loan Review
Lendly Loan is offered by Lendly, a direct lender founded in 2019 and based in Dayton, OH. Lendly Loan are available in 12 states.
Key Takeaways
- Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging.
- No origination fee. Lendly Loan does not charge a loan origination fee.
- No late fees. Lendly Loan will not charge additional fees if you miss the due date on a payment.
Lendly Loan Pros & Cons
| Pros | Cons |
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Lendly Loan FAQ
What interest rates and personal loan terms does Lendly Loan offer?
Lendly Loan has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Lendly Loan offer?
Lendly Loan offers a variable APR personal loan product but they do not disclose their interest rates.
| Personal Loan Amount | up to $2000 |
| Loan Term | Starting at 12 months |
| APR | N/A |
What fees does Lendly Loan charge?
Does Lendly Loan charge an origination fee?
Lendly Loan does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, consider lenders that don’t charge origination fees.
Does Lendly Loan charge a late fee?
No, Lendly Loan will not charge you a late fee if you miss payments.
Does Lendly Loan charge prepayment fees?
No, Lendly Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | 0% |
| Prepayment Fee | No |
| Late Payment Fee | $0 |
What do you need to qualify for Lendly Loan?
When it comes to credit scores, Lendly Loan doesn't have a set minimum or maximum. People with all types of credit scores can apply. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
Lendly Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Lendly Loan.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking or savings account
- Proof of income
- Bank account information
- Driver's license or other government photo ID
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 300 - 850 |
Does Lendly Loan report your account activity to credit bureaus?
Yes, Lendly Loan reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Lendly perform a hard credit pull?
Yes, Lendly Loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are Lendly Loan legit?
Lendly was founded in 2019. It is an established company that has been in business for 7 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
9:00AM - 6:00PM
Monday
9:00AM - 10:00PM
Tuesday
9:00AM - 10:00PM
Wednesday
9:00AM - 10:00PM
Thursday
9:00AM - 10:00PM
Friday
9:00AM - 10:00PM
Saturday
9:00AM - 6:00PM