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 offered in 9 states across the USA.

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 fees does LoanMart Personal Loans charge?

What do you need to qualify for LoanMart Personal Loans?

Applicants with a credit score of at least 300 and up to 700 are eligible 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.

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
• Driver's license
• Proof of citizenship or residence permit

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.