Features

Where does LionLoans do business?

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.

What range of rates does LionLoans offer?

LionLoans offers personal loans with APRs starting at 36% and up to 200%.

Does LionLoans charge an origination fee?

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. 

Does LionLoans charge a late fee?

Yes, LionLoans may charge borrowers a late payment fee.

Does LionLoans charge prepayment fees?

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.

How much can you borrow from LionLoans?

Loan amounts start at $300 and go up to $3,000.

What is the maximum loan term for a LionLoans personal loan?

LionLoans offers personal loans with a maximum term of 36 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 LionLoans?

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:

  • Applicants must have an active and valid checking account
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income
  • What is the estimated funding time for a personal loan via LionLoans?

    LionLoans will typically approve (or deny) a loan application within 24 hours and fund personal loans as soon as 1 business day of approval.

    Does LionLoans report loan payments to credit bureaus?

    LionLoans reports credit data to the following credit reporting agencies:

      • Max Loan Term (Months)
        36
      • Institution Type
        Direct Lender
      • Bank Account Required?
      • Credit Score Range
        300 - 850
      • Employment Statuses Considered
        • Employed Full-Time
        • Employed Part-Time
        • Retired
        • Self-Employed
      • Immigration Status Considered
        • U.S. Citizen
        • U.S. Permanent Resident
      • Military Status
        • Non-Military
        • Veterans
      • Minimum Age
        18
      • Minimum Annual Income
        $36000
      • Supported Income Types
        • Direct Deposit (W2, SSA, SSDI)
        • Payroll Check or Prepaid Card
      • Verification Documents Required?
        • Proof of Income
        • Recent Pay Stubs
        • Proof of citizenship/residence
      • No Origination Fee
      • No Prepayment Fee
      • Approval Speed (Hours)
        24
      • Funding Time Range (in days)
        1 - 2
      • Payment Options
        Automatic Payments
      • Credit Bureau Reporting
        Other
      • Loan Amount
        $300 - $3000
      • APR
        36% - 200%
      All lending and servicing of loans for LionLoans is done by one of MoneyLion's affiliates. All loans in i) Alabama are made by MoneyLion of Alabama LLC under Consumer Credit License # MC 22369, regulated by the Alabama State Banking Department; ii) C
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