LionLoans
in Personal Loans from MoneyLion Inc.
Would you recommend LionLoans to your friends?
| Community Rating |
Rating not yet determined |
| Loan Amount | $300 - $3,000 |
| APR (Fixed APR) | 36% - 200% |
| Loan Term | 1 - 36 months |
LionLoans Review
LionLoans is offered by MoneyLion Inc., a direct lender founded in 2013 and based in New York, NY. LionLoans is available in 15 states across the USA.
What rates and terms does LionLoans offer?
LionLoans has higher interest rates than the average for lenders reviewed on SuperMoney.
What personal loan APRs does LionLoans offer?
LionLoans offers a fixed APR personal loan product that ranges from 36% APR up to 200% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
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.
| Loan Amount | $300 - $3000 |
| Loan Term | 1 - 36 months |
| APR | 36% - 200% |
What fees does LionLoans charge?
Does LionLoans charge an origination fee?
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.
| Origination Fee | N/A |
| Prepayment Fee? | No |
| Late Payment Fee | N/A |
What do you need to qualify for LionLoans?
Applicants with a credit score of at least 300 and up to 850 are eligible for LionLoans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
To qualify for personal loans with LionLoans, applicants need a minimum annual income of $36,000 or higher. LionLoans only considers borrowers who are employed and meet the minimum income requirement.
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 LionLoans 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 are, of course, eligible for the services offered by LionLoans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Recent pay stubs
- Proof of income
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 300 - 850 |
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 your account activity to credit bureaus?
LionLoans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
Contact
- Headquarters
-
30 West 21st Street 9th Floor
New York, NY 10010
About LionLoans
Availability
- Alabama
- California
- Delaware
- Georgia
- Idaho
- Illinois
- Mississippi
- Missouri
- New Mexico
- North Dakota
- Ohio
- South Carolina
- Texas
- Utah
- Wisconsin
LionLoans Community Reviews
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Loan Amount
$300 - $10K
APR
36% - 99%
Loan Term (Months)
12 - 36
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