Overview

Where does LoanMe do business?

LoanMe is a direct lender based in Anaheim, CA. Founded in 2014, LoanMe offers access to personal loans in 10 states across the USA.

What are the APRs offered via LoanMe?

LoanMe has a variable APR that ranges from 12.22% up to 184.36%.

Does LoanMe charge an origination fee?

Yes, LoanMe charges a loan origination fee. 

Does LoanMe charge a late fee?

Yes, LoanMe may charge borrowers a late payment fee

Does LoanMe charge prepayment fees?

Yes, LoanMe charges additional fees to borrowers who pay off their loans soon than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow via LoanMe?

Loan amounts start at $2,600 and go up to $100,000.

What do you need to qualify for a loan with LoanMe?

Applicants with a credit score of at least 300 can apply for a loan via LoanMe . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Active duty servicemembers and their covered dependents cannot apply for a loan via LoanMe. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Applicants must have an active and valid checking account
  
• Recent pay stubs
• Proof of income

What is the estimated funding time for a personal loan via LoanMe?

LoanMe will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.