| Community Rating | Mostly not recommended |
| Loan Amount | $1,500 - $3,100 |
| APR (Fixed APR) | 60% - 249% |
| Loan Term | 30 months |
| Number of Reviews | 18 |
LoanMart Personal Loans Review
LoanMart Personal Loans is offered by LoanMart, a direct lender founded in 2002 and based in Van Nuys, CA. LoanMart Personal Loans is available in 6 states across the USA.
Key takeaways
- Same day funding available. In some cases you may be able to access your cash the same day you apply.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 300 are considered for LoanMart Personal Loans.
- Hard credit pull required. You can't check your rates or see if you prequalify for LoanMart Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- Origination fees of $0 to $100.
LoanMart Personal Loans Pros and Cons:
| Pros | Cons |
|---|---|
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What rates and terms does LoanMart Personal Loans offer?
LoanMart Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does LoanMart Personal Loans offer?
LoanMart Personal Loans offers a fixed APR personal loan product that ranges from 60% APR up to 249% APR. Interest rates vary by state.
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 LoanMart Personal Loans?
Loan amounts start at $1,500 and go up to $3,100.
What can a personal loan from LoanMart Personal Loans be used for?
Personal loans from LoanMart Personal Loans are typically used for special purchases, weddings, unexpected expenses or similar purposes.
What is the maximum loan term you can get with LoanMart Personal Loans?
LoanMart Personal Loans offers personal loans with terms ranging from 30 to 30 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 | $1500 - $3100 |
| Loan Term | 30 months |
| APR | 60% - 249% |
What fees does LoanMart Personal Loans charge?
Does LoanMart Personal Loans charge an origination fee?
LoanMart Personal Loans may charge a loan origination fee of $0 to $100
Does LoanMart Personal Loans charge a late fee?
Yes, LoanMart Personal Loans may charge borrowers a late payment fee of up to $10.
Does LoanMart Personal Loans charge prepayment fees?
No, LoanMart Personal Loans 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 | $10 |
What do you need to qualify for LoanMart Personal Loans?
The minimum age to be eligible is 18 or the state minimum, whichever is higher.LoanMart Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. LoanMart Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
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 LoanMart Personal Loans 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 LoanMart Personal Loans. 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
- Proof of identity
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 300 - 640 |
What is the estimated funding time for a personal loan via LoanMart Personal Loans?
LoanMart Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 1 business day of approval.
Contact
- Headquarters
-
P.O. Box 8075
Van Nuys, CA 91409
Message from LoanMart
Other Services by LoanMart
Availability
- Alabama
- Georgia
- Idaho
- Missouri
- New Mexico
- Utah
Feature Breakdown
| No Prepayment Fee | |
| Late Fee Amount | $10 |
| Origination Fee ($) | $0 - $100 |
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