LoanMe Personal Loans
in Personal Loans from LoanMe Inc.Unaffiliated
LoanMe Personal LoansUnaffiliated
in Personal Loans from LoanMe Inc.
Strongly not recommended
Would you recommend LoanMe Personal Loans to your friends?
Thanks for your vote!
You voted: May or may not recommend
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.
- Fast access to cash. In some cases you can get your money within 1 business day.
- 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 LoanMe Personal Loans.
- Large loan amounts. You can apply for loan amounts of up to $50,000 with LoanMe Personal Loans.
- Origination fees of up to 33%. 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 and Cons:
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.
|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.
|Origination Fee||0% - 33%|
|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 checking account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of identity
|Bank Account Required?||Yes|
|Application Types Accepted||
|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 score.
1900 S. State College Boulevard, Suite 300
Anaheim, CA 92806 USA
- Visit Site
Message from LoanMe Inc.
Other Services by LoanMe Inc.
- New Mexico
- South Carolina
|No Prepayment Fee|
|Late Fee After||15 days|
|Late Fee Amount||$15|
|Origination Fee (%)||0% - 33%|
|Checking Account Required|
|Employment Statuses Considered||
|Immigration Status Considered||U.S. Permanent Resident|
|Joint Loan Applications Accepted||Individual Applications|
|Supported Income Types||
|Verification Documents Required||
|Credit Score Range||
300 - 700
|Approval Speed||24 hours|
|Credit Bureau Reporting||Clarity Services|
|Funding Time Range||1 - 7 days|
|Pre-Approved Soft Credit Inquiry|
|Loan Amount||$2,600 - $50,000|
|APR (Fixed APR)||26.74% - 184.36%|
|Loan Term||36 - 180 months|