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  LoanMe Personal Loans

LoanMe Personal Loans

in Personal Loans from LoanMe Inc.

Unaffiliated

LoanMe Personal Loans

Unaffiliated

in Personal Loans from LoanMe Inc.

SuperMoney Net Recommendation Score -87%

SUPERMONEY NET RECOMMENDATION SCORE

-87%

-100% 0% +100%
No one recommends Everyone recommends

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

10 users recommend
4 users are unsure
171 users don't recommend
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Highlights
Highlights
Community Rating Strongly not recommended
APR  (Fixed APR) 26.74% - 184.36%
Loan Amount $2,600 - $50,000
Loan Term (Months) 36 - 180 months
Number of Reviews 185

LoanMe Personal Loans Review

LoanMe Personal Loans is offered by LoanMe Inc., a direct lender founded in 2014 and based in Anaheim, CA. LoanMe Personal Loans is available in 9 states across the USA.

Key Takeaways
  • APRs starting at 26.74%. 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 cash. In some cases you can get your money within 1 business day.
  • Large loan amounts. You can apply for loan amounts of up to $50,000 with LoanMe Personal Loans.
  • Prequalifed 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 33%. 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.
  • Super long loan terms. LoanMe Personal Loans offers loan terms of up to 180 months. Most personal loans have a maximum term of 60 months.
LoanMe Personal Loans Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • APRs as high as 184.36%.
  • Charges an origination fee of up to 33% of the loan amount.
  • Charges a late fee of $15
LoanMe Personal Loans FAQ

What rates and terms does LoanMe Personal Loans offer?

LoanMe Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does LoanMe Personal Loans offer?

LoanMe Personal Loans offers a fixed APR personal loan product that ranges from 26.74% APR up to 184.36% APR. Interest rates vary by state.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via LoanMe Personal Loans?

Loan amounts start at $2,600 and go up to $50,000

What can a personal loan from LoanMe Personal Loans be used for?

Personal loans from LoanMe Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.

What is the maximum loan term you can get with LoanMe Personal Loans?

LoanMe Personal Loans offers personal loans with terms ranging from 36 to 180 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

LoanMe Personal Loans Rates & Terms
Loan Amount $2600 - $50000
Loan Term 36 - 180 months
APR 26.74% - 184.36%

What fees does LoanMe Personal Loans charge?

Does LoanMe Personal Loans charge an origination fee?

LoanMe Personal Loans may charge a loan origination fee of 0% to 33% of the loan amount (origination fees and requirements vary by state). LoanMe Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does LoanMe Personal Loans charge a late fee?

Yes, LoanMe Personal Loans may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.

Does LoanMe Personal Loans charge prepayment fees?

No, LoanMe Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

LoanMe Personal Loans Fees
Origination Fee 0% - 33%
Prepayment Fee? No
Late Payment Fee $15

What do you need to qualify for LoanMe Personal Loans?

The minimum age to be eligible is 18 or the state minimum, whichever is higher.

LoanMe Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. 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.

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
  • Proof of identity
LoanMe Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 300 - 700

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

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

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

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

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

    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 1-844-311–2274. 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: SuperMoney.com 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.

    Contact

    • Headquarters
    •   1900 S. State College Boulevard, Suite 300
      Anaheim, CA 92806 USA
    •   Visit Site

    Other Services by LoanMe Inc.

    Message From LoanMe Inc.

    LoanMe is a California based lender that offers unsecured 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 checking account in as fast as 3-4 hours!

    Availability

      Available in 9 states
    • Arizona
    • California
    • Delaware
    • Idaho
    • Kentucky
    • Missouri
    • New Mexico
    • South Carolina
    • Utah

    Feature Breakdown

    No Prepayment Fee  
    Late Fee Amount $15
    Late Fee Grace Period 15 days
    Origination Fee (%) 0% - 33%
    Checking Account Required  
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    • Unemployed
    Immigration Status Considered U.S. Permanent Resident
    Joint Loan Applications Accepted Individual Applications
    Military Status
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    • Tax Returns
    Verification Documents Required
    • Recent Pay Stubs
    • Proof of Income
    • Proof of Identity
    • Driver License (or other photo ID)
    Credit Score Range 300 - 700
    Approval Speed 24 hours
    Credit Bureau Reporting Clarity Services
    Funding Time Range 1 - 7 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Pre-Approved Soft Credit Inquiry  
    Loan Amount $2,600 - $50,000
    APR (Fixed APR) 26.74% - 184.36%
    Loan Term 36 - 180 months

    LoanMe Personal Loans Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    -87%

    -100% 0% +100%
    No one recommends Everyone recommends

    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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