LionLoans is a direct lender based in Sandy, UT. It was founded in 2013 and offers access to personal loans in 15 states across the USA.
LionLoans offers personal loans with APRs starting at 36% and up to 200%.
No, LionLoans 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.
Yes, LionLoans may charge borrowers a late payment fee
No, LionLoans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
Loan amounts start at $300 and go up to $3,000.
Applicants with a credit score of at least 300 can apply for a loan via LionLoans. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
Active duty servicemembers and their covered dependents cannot apply for a loan via LionLoans. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
LionLoans will typically approve (or deny) a loan application within 24 hours and fund personal loans as soon as 1 business day of approval.
LionLoans reports credit data to the following credit reporting agencies: