LoanMe Personal Loans
LoanMe Personal Loans
in Personal Loans from LoanMe Inc.

LoanMe Personal Loans

in Personal Loans from LoanMe Inc.
SuperMoney Net Recommendation Score -86  


This product is strongly not recommended by SuperMoney users with a score of -86, equating to 1.3 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

11 users recommend
4 users are unsure
173 users don't recommend
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Spotloan 22 reviews
Community Rating Strongly not recommended
APR  (Fixed APR) 32% - 165%
Loan Amount $600 - $30,000
Loan Term (Months) 6 - 84 months
Number of Reviews 188

LoanMe Personal Loans Review

LoanMe Personal Loans is offered by LoanMe Inc., a direct lender founded in 2012 and based in Anaheim, CA. LoanMe Personal Loans is available in 24 states across the USA.

Key Takeaways

  • APRs starting at 32%. Interest rates vary by state. Personal loan interest rates typically range between 5% and 36%. The starting rates for LoanMe Personal Loans are on the higher end of the spectrum.
  • Fast access to funds. In some cases, you can get your money within 1 business day*.
  • Prequalified rate. You can check your prequalified rate at LoanMe Inc. with a soft pull that will not affect your credit score.
  • Origination fees of up to 10%. Origination fees and requirements vary by state. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
  • Short loan terms. LoanMe Personal Loans have loan terms as short as 6 months.
  • Super long loan terms. LoanMe Personal Loans offers loan terms of up to 84 months. Most personal loans have a maximum term of 60 months.
  • Minimum income of $24,000. You will need an annual income of at least $24,000 to apply for LoanMe Personal Loans, which is above average for the lenders in our database.

Loanme Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 2 business days.
  • APRs as high as 165%.
  • Charges an origination fee of up to 10% of the loan amount.
  • Charges a late fee of $15

Loanme FAQ

What interest rates and personal loan terms does Loanme offer?

Loanme has higher than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Loanme offer?

Loanme offers a fixed APR personal loan product that ranges from 32% APR up to 165% APR. Interest rates vary by state.

How much can you borrow via Loanme?

Business loan amounts start at $600 and go up to $30,000.

What is the maximum loan term you can get with Loanme?

Loanme offers loans with terms of up to 84 months.

Loanme Interest Rates & Loan Terms
Personal Loan Amount $600 - $30000
Loan Term 6 - 84 months
APR 32% - 165%

What fees does Loanme charge?

Does Loanme charge an origination fee?

Loanme may charge a personal loan origination fee of 0% to 10% of the personal loan amount (origination fees and requirements vary by state). Loanme deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.

Does Loanme charge a late fee?

Yes, Loanme may charge borrowers a late payment fee if you miss one of the monthly payments of up to $15, which is triggered if you're 15 days late.

Does Loanme charge prepayment fees?

No, Loanme 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.

Loanme Fees
Origination Fee 0% - 10%
Prepayment Fee No
Late Payment Fee $15

What do you need to qualify for LoanMe Personal Loans?

Applicants with a credit score of at least 500 and up to 850 may be eligible for LoanMe Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with LoanMe Personal Loans, applicants need a minimum annual income of $24,000 or higher. LoanMe 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 LoanMe 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 LoanMe 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
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Government issued photo ID
  • U.S. tax identification number
  • References
Loanme Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 500 - 850

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

    Loanme will typically approve (or deny) a loan application within 4 hours and fund loans within 2 business days of approval.

    Does LoanMe Personal Loans report your account activity to credit bureaus?

    Yes, LoanMe Personal Loans reports your account activity to the following credit reporting agencies:

    • Experian

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

    Is LoanMe Inc. a legit company?

    LoanMe Inc. was founded in 2012, it is a well-established company with approximately 75 employees that has been in business for 10 years. LoanMe Personal Loans are strongly not recommended by SuperMoney community users.

    LoanMe Personal Loans Disclosure: Credit approval is subject to LoanMe's credit standards, and actual terms (including actual loan amount) may vary by applicant. LoanMe requires certain supporting documentation with each new application. If you have any questions regarding this, call us at 1-844-956–2663. California loans are made pursuant to LoanMe's California Department of Business Oversight Financing Law License #603K061. LoanMe also offers loans in certain other states which may have higher minimum loan amounts.
    SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
    Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

    Message From Loanme

    LoanMe is a California based lender and loan finder for other lenders offering unsecured personal and installment loans to qualified borrowers. Our loans are typically used for one-time purchases or debt consolidation. The process is fast and easy and it’s even possible to have money deposited into your bank account in as fast as 3-4 hours!

    Message From Our Editor

    What We Love About LoanMe Personal and Small Business Loans

    LoanMe offers flexible terms for those seeking personal or business loans. They are a great option for debt consolidation and making on-time payments can improve your credit score. 

    The application process is fast and convenient - simply enter your information online or by phone. If accepted, borrowers can get funds deposited in their bank account in as little as 3-4 hours. LoanMe offers fixed monthly payments and there is no penalty for paying off your loan early if you choose to do so. 

    What Could LoanMe Do Better?

    LoanMe’s market is somewhat limited, as it only loans money to people and small businesses in a few states. This means customers who live elsewhere will have to find another lending option. We would like to see LoanMe increase its licensing to all 50 states. 

    LoanMe’s Backstory

    LoanMe was founded in 2013 in Anaheim, California. They are an alternative to short-term lenders for individuals looking to consolidate debt and small businesses looking to grow. They are licensed to lend in 10 states, as mentioned above.

    The Verdict

    LoanMe, like many emerging online lenders, has a streamlined, no-hassle loan application process. Their quick approval and disbursement process is a plus for people who find themselves strapped for cash for any reason.

    However, this convenience comes with a price. You could be faced with higher interest rates, so proceed with caution, especially if you have below-average to poor credit. Part of the reason LoanMe does not lend to customers in more states is that certain states have laws against high-interest rate loans like the ones LoanMe offers. Ideally, this kind of loan would help you in a bind and be paid off early to avoid paying excessive amounts of interest.

    For small businesses though, this may be a better option if it is sure to be paid back on time and in full each month. 


    Hours of Operation

    • Sunday Closed
    • Monday 8:00am - 6:00pm
    • Tuesday 8:00am - 6:00pm
    • Wednesday 8:00am - 6:00pm
    • Thursday 8:00am - 6:00pm
    • Friday 8:00am - 6:00pm
    • Saturday 8:00am - 6:00pm

    Other Services by LoanMe Inc.


      Available in 24 states
    • Arizona
    • California
    • Delaware
    • Florida
    • Idaho
    • Indiana
    • Kentucky
    • Michigan
    • Minnesota
    • Missouri
    • Mississippi
    • Montana
    • North Dakota
    • Nebraska
    • New Mexico
    • Ohio
    • Oklahoma
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Wisconsin

    Feature Breakdown

    Late Fee Amount $15
    Late Fee Grace Period 15 days
    No Prepayment Fee
    Origination Fee (%) 0% - 10%
    Checking Account Required
    Employment Statuses Considered
    • Other
    • Employed Full-Time
    • Employed Part-Time
    • Self-Employed
    • Retired
    • Unemployed
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Joint Loan Applications Accepted
    • Individual Applications
    Military Status
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Minimum Annual Income $24,000
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    • Tax Returns
    Verification Documents Required
    • Driver License (or other photo ID)
    • Recent Pay Stubs
    • Proof of Income
    • References
    • Government Issued Photo ID
    • U.S. Tax Identification Number
    Credit Score Range 500 - 850
    Approval Speed 4 hours
    Credit Bureau Reporting Experian
    Customizable Payment Dates
    Funding Time Range 1 - 2 days
    Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
    Pre-Qualified Soft Credit Inquiry
    APR Type Fixed APR
    Loan Amount $600 - $30,000
    APR (Fixed APR) 32% - 165%
    Loan Term 6 - 84 months

    LoanMe Personal Loans Community Reviews


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    This product is strongly not recommended by SuperMoney users with a score of -86, equating to 1.3 on a 5 point rating scale.


    Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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