LoanMart Personal Loans
| Community Rating | Mostly not recommended |
| APR (Fixed APR) | 60% - 249% |
| Loan Amount | $1,500 - $3,100 |
| Loan Term (Months) | 30 months |
| Number of Reviews | 19 |
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
- APRs starting at 60%. Interest rates vary by state. Personal loan interest rates typically range between 5% and 36%. The starting rates for LoanMart Personal Loans are on the higher end of the spectrum.
- Same day funding available. In some cases you may be able to access your money the same day you apply.
- Origination fees of $0 to $100.
Loanmart Pros & Cons
| Pros | Cons |
|---|---|
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What interest rates and personal loan terms does Loanmart offer?
Loanmart has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Loanmart offer?
Loanmart offers a fixed APR personal loan product that ranges from 60% APR up to 249% APR. Interest rates vary by state.
How much can you borrow via Loanmart?
Business loan amounts start at $1,500 and go up to $3,100.
What is the maximum loan term you can get with Loanmart?
Loanmart offers loans with terms of 30 months.
| Personal Loan Amount | $1500 - $3100 |
| Loan Term | 30 months |
| APR | 60% - 249% |
What fees does Loanmart charge?
Does Loanmart charge an origination fee?
Loanmart may charge a personal loan origination fee of $0 to $100
Does Loanmart charge a late fee?
Yes, Loanmart may charge borrowers a late payment fee if you miss one of the monthly payments of up to $10.
Does Loanmart charge prepayment fees?
No, Loanmart does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| 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 personal 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?
Loanmart will typically approve (or deny) a loan application within 24 hours and fund loans within 1 business day of approval.
Is Loanmart a legit company?
Loanmart was founded in 2002, it is a well-established company that has been in business for 20 years. LoanMart Personal Loans are mostly not recommended by SuperMoney community users.
Message From LoanMart
Contact
- Headquarters
-
P.O. Box 8075
Van Nuys, CA 91409 USA - Visit Site
- Email Support
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 |
LoanMart Personal Loans Community Reviews
Would you recommend LoanMart Personal Loans to your friends?
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