Last Updated: 04/18/2025
SuperMoney User Recommendation Score -86
Strongly not recommended187 total votes
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Highlights
Community Rating
Strongly not recommended
APR (Fixed APR)
32% - 165%(Verified 06/21/2024)
Disclaimer popup with additional information
Amount Range
$600 - $30,000
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Loan Term (Months)
6 - 84
Number of Reviews
LoanMe Personal Loans Review
LoanMe Personal Loans is offered by LoanMe Inc., a direct lender founded in 2012 and based in Anaheim, CA. Loanme are available in 24 states.
Key Takeaways
- APRs starting at 32%. Interest rates vary by state. Personal loan interest rates typically range between 9% and 36%. The starting rates for LoanMe Personal Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, LoanMe Inc. will send the money in as little as 24 hours.
- Prequalified rate. You can check your prequalified rate at LoanMe Inc. with a soft pull that will not affect your FICO or VantageScore.
- Origination fees of 0% to 10%. Origination fees and requirements vary by state. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money 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.
Loanme Pros & Cons
| Pros | Cons |
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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?
Personal 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.
| 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 a late payment fee if you miss one of the regularly scheduled payments of up to $15.
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.
| 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. LoanMe Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders with a U.S. tax identification number are eligible to apply for the services offered by LoanMe Personal Loans.
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 or other government photo ID
- Government issued photo ID
- U.S. tax identification number
- References
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | 500 - 850 |
What is the estimated funding time for a personal loan via Loanme?
Loanme will typically fund loans within 1 to 2 business days of approval and clearing necessary verifications.
Does LoanMe Personal Loans report your account activity to credit bureaus?
Yes, LoanMe Personal Loans reports to the following credit bureau:
- 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 build your credit.
Does LoanMe Inc. perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Loanme allows you to check your rates with a soft credit pull.
Are LoanMe Personal Loans legit?
LoanMe Inc. was founded in 2012, it is a well-established company that has been in business for 14 years. LoanMe Personal Loans is 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: 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.
Message from Loanme
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.
Contact
Headquarters
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
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users don't recommend this product, giving it a user recommendation score of -86, or 1.3 on a 5-point rating scale.
-86
-1000+100
No one recommends
Everyone recommends
LoanMe Personal Loans Community Reviews
Would you recommend LoanMe Personal Loans to your friends?
Jen P.
Dec 2, 2022
May or may not recommend
I paid off my loan in December of 2021 and they continued to take money from my account after. I called multiple times. I was finally able to get hold of someone who said that my account had been closed incorrectly and that I would receive a refund check in the mail because there systems could direct deposit it?? It is now December of 2022 and I have YET to ...Show More
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
Even though I was not approved for the loan, I would still recommend your company because of the great customer service Alan Oviedo gave me. He was very professional and took his time explaining the entire process of the loan.
Joana S.
Oct 10, 2020
May or may not recommend
Riff off!!! $22000 plus $9000 origination fee with total of $31000. After paying of $458 monthly for almost 4 years my loan is still $31000. Don't do it, be kind to yourself. I was naive!
Thatguy S.
Sep 16, 2020
May or may not recommend
Interest rates well over 100%. I was approved for $4900. However the repayment plan was at 136% interest with 77 payments of $316.00! That's over $24,000! I quickly turned it down. I can't believe this is even legal to charge that much interest. They should change their name from Loanme to Boneme!
SS
Steve S.
Jul 31, 2020
May or may not recommend
Was on a payment arrangement from 9/11/19. Called every month and was told to pay "late Fees". Reiterated every call that their are no late fees on payment arrangement. Called to make last payment and was told that an additional 54$ in "legal Fees" were due. No legal fees of 27x2 was on the payment schedule I was given and agreed to. Says I was ...Show More
ES
Erica S.
Jul 23, 2020
May or may not recommend
I would not recommend loan me to my worst enemy they are a complete rip off and have no business ethics. I barrowed $2600 with 8 payments of $388 or more made I paid every month then I called to pay off what I thought the loan summary was reflecting and was denied by a supervisor Ebony who took $3235.59 from me on hard time during covid 19 crisis ...Show More
DL
Daniel L.
Oct 29, 2019
May or may not recommend
I got a loan from them $6,500. I kept half & used the other Half as payment. The remaining balance was $3,200. Although Half of the loan was paid off, my monthly obligation was still based on $6,500. The monthly payments were $423.00 for a period of three years which equaled to over $15,000. The interest was an astronomical 79.00%. I quickly scrambled & ...Show More
MH
May H.
Sep 27, 2019
May or may not recommend
It’s rip off,high interest rates and even though you paid off your loan you still owe them..after 2 years they contacted me and said I still have a 3,500 balance I need to pay??rip off BIG TIME
Anna Liza C.
Sep 22, 2019
May or may not recommend
They will rip you off very high interest they are fraud!
U
Anonymous
Sep 14, 2019
May or may not recommend
I will never recommend loan me even to my worse enemy. The girl who helped me lied to me. I’m stuck with this loan because it’s like the balance never goes down. I don’t want to default bc it will jack up my credit that I worked so hard to clean after a nasty divorce I went through 5 years ago. Then they have the nerve to send me ...Show More
U
Anonymous
Sep 9, 2019
May or may not recommend
I tried to get a $5000 loan they wanted to charge me 110% APR for overall average 600 credit score. Paid over 47 months at $451/month. Total over $21000 to repay them.
LL
Lacey L.
Sep 4, 2019
May or may not recommend
They're rediculous they have incredibly high rates. I am checking if it is legal
Joseph B.
Aug 30, 2019
May or may not recommend
Borrowed $10,500 in 2015. Have paid them already $26,000. They want another $10,900. If i continuing paying the 604 per month it matures in 2026 and I would have paid them $75000. Stay away from this company. They use to be CashCall and had to shut it down due to regulatory issues. They then formed Loan Me. Check out the LATimes article.
U
Anonymous
Aug 28, 2019
May or may not recommend
It’s a very bad loan company. Made a loan for 3000 made a payment for months over $2300 and still owning $3140 made a settlement for $2700 and they agreed on and paid it off and now they told me I still own $351 so what hat to the settlement of $2700
ME
Mary E.
Aug 28, 2019
May or may not recommend
I plead don't use this company. If u r not careful they tie you up in a 2 year commitment. They use the fact that people who come to them need money badly. But BEWARE this is the most under handed loan company. Also BEWARE that you are actually paying on back interest. I just got the loan and I already have back interest really get for real.
JO
Jerry O.
Aug 8, 2019
May or may not recommend
Date of loan transaction: Aug 8, 2019
Company: LoanMe
Personal Loan: $3,000
Processing Fee: $75.00
Monthly Due 253.61
Term of Payment: 47 months
Interest Rate: 100.64%
I calculated my total payments after 47 months, it came out to a whopping $11,919.67.
I quickly terminated my conversation. Please stay away from this company.
JS
Jorge S.
Jul 18, 2019
May or may not recommend
I had Loan me as the lender of two consolidate loans, my surprise was that I thought I had a loan, I had a gangster as a lender from the 1698 dollars per month ONE dollar went to interest and for 25,000 dollars loan by the term of the loan I would have paid 600,000.00 dollars.NOW I HAVE BEEN ASKING FOR THE OVERPAYMENT TO BE SENT TO ME OF 1,6 ...Show More
GO
Godfrey O.
Jun 20, 2019
May or may not recommend
THIS IS A PREDATORY LENDER THIS COMPANY IS NOT!!!!!!!!! HERE TO HELP YOUR BUSINESS. THEY TRIED TO GIVE ME $75,000 AT 79.9% APR THEY WANTED ME TO PAY $5,000 MONTH FOR 120 MONTHS!!!!!!!!! THAT'S OVER $500,000 WOW! REALLY. THERE IS A CLASS ACTION LAW SUIT PENDING AGAINST THEM. I WOULD LIKE EVERYONE WHO HAS BEEN VICTIMIZED BY THIS COMPANY TO CONTACT ME VIA EMAIL.
DW
Dan W.
May 15, 2019
May or may not recommend
I was approved for a loan from loan me for 3000$ .I'm making payments of 300 a month.
Buy the time I finished paying off the loan it will come out to around 13000 $
That's over 300% interest.
I was desperate at the time.
It's the biggest RIP off.
VL
Vicente L.
Apr 10, 2019
May or may not recommend
Even though I was not approved for the loan, I would still recommend your company because of the great customer service Alan Oviedo gave me. He was very professional and took his time explaining the entire process of the loan.
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