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.

• 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 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.

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?

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

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.