Lendumo Installment Loan
Lendumo Installment Loan
in Personal Loans from Lendumo

Lendumo Installment Loan

in Personal Loans from Lendumo
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Loan Amount Up to $2,500
Loan Term (Months) Up to 1 month

Lendumo Installment Loan Review

Lendumo Installment Loan is offered by Lendumo, a nonbank financial services provider founded in 2020 and based in Lac du Flambeau, WI. Lendumo Installment Loan are available in 50 states (and Washington, DC).

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.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Lendumo Installment Loan.

Lendumo Installment Loan Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Accepts cosigners and coborrowers.
  • Charges an origination fee.
  • Short loan terms (maximum of 1 month).
  • Small loan amounts (maximum of $2,500).
  • Does not offer pre-approval with soft credit pull.
  • Charges a late fee of up to $30

Lendumo Installment Loan FAQ

What interest rates and personal loan terms does Lendumo Installment Loan offer?

Lendumo Installment Loan has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Lendumo Installment Loan offer?

Lendumo Installment Loan offers a variable APR personal loan product but they do not disclose their interest rates.

What is the maximum loan term you can get with Lendumo Installment Loan?

Lendumo Installment Loan offers loans with terms of up to 1 months.

Lendumo Installment Loan Interest Rates & Loan Terms
Personal Loan Amount up to $2500
Loan Term up to 1 months

What fees does Lendumo Installment Loan charge?

Does Lendumo Installment Loan charge an origination fee?

Lendumo Installment Loan may charge a personal loan origination fee.

Does Lendumo Installment Loan charge a late fee?

No, Lendumo Installment Loan will not charge you a late fee if you miss one of the monthly payments of up to $30.

Does Lendumo Installment Loan charge prepayment fees?

No, Lendumo Installment 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.

Lendumo Installment Loan Fees
Origination Fee No
Prepayment Fee No
Late Payment Fee up to $30

What do you need to qualify for Lendumo Installment Loan?

Lendumo Installment Loan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Lendumo Installment Loan does not have or does not disclose a minimum annual income eligibility requirement. Lendumo Installment Loan only considers borrowers who are employed. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Lendumo Installment Loan product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Lendumo Installment Loan.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit
Lendumo Installment Loan Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Co-borrowers
  • Cosigners
  • Individual Applications
Credit Score N/A

Does Lendumo Installment Loan report your account activity to credit bureaus?

Yes, Lendumo Installment Loan reports your account activity to the following credit reporting agencies:

  • 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 improve your credit.

Are Lendumo Installment Loan legit?

Lendumo Installment Loan was founded in 2020. It is an established company that has been in business for 3 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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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 All Day
  • Monday All Day
  • Tuesday All Day
  • Wednesday All Day
  • Thursday All Day
  • Friday All Day
  • Saturday All Day

About Lendumo Installment Loan


  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount Up to $30
No Prepayment Fee
(Verified 09/13/2023)
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Non-Military
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Cash
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Identity
  • Social Security Number
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Automatic Payments
  • Credit/Debit Card
  • Bank Transfer
Bonus Offer Customers receive U Rewards Points they can exchange for national brand gift cards or principal paydown.
APR Type Variable APR
Loan Amount Up to $2,500
Loan Term Up to 1 month

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