Mostly not recommended
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Where does LionLoans do business?
LionLoans is a direct lender based in Sandy, UT. Founded in 2013, LionLoans offers access to personal loans in 15 states across the USA.
What are the APRs offered via LionLoans?
LionLoans offers a fixed APR personal loan product that ranges from 36% up to 200% APR.
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 via LionLoans?
Loan amounts start at $300 and go up to $3,000.
What can a personal loan from LionLoans be used for?
Personal loans from LionLoans are typically used for special purchases, debt consolidation, weddings or similar purposes.
What is the maximum loan term you can get with LionLoans?
LionLoans offers personal loans with terms ranging from 1 to 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.
To qualify for a LionLoans loan, applicants need a minimum annual income of $36,000 or higher. LionLoans only considers borrowers who are employed and meet the minimum income requirement.
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:
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 within 2 business days of approval.
Does LionLoans report loan payments to credit bureaus?
LionLoans may report credit data to the following credit reporting agencies:
P.O. Box 1547, Sandy, UT 84091-1547
Sandy, UT 84091 USA
- New Mexico
- North Dakota
- South Carolina
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Proof of Income
- Recent Pay Stubs
- Proof of citizenship/residence (Green Card)