Features

LoanNow is an online direct lender that offers affordable loans with no origination or prepayment fees to people with less than perfect credit scores. LoanNow uses innovative risk assessment models and loan products to help people with poor to good credit qualify for better rates than those offered by traditional lenders. The company is based in Santa Ana, California and has an A+ rating with the BBB.

How Does LoanNow Work?

LoanNow is a direct lender so there’s no wasted time waiting for an approval decision. Completing the application form only takes 5 minutes and there is no paperwork and no faxing required. Once your application is approved, funds are deposited directly into your account.

LoanNow helps borrowers improve their credit score by keeping a record of their payments history. If borrowers make payments in full and on time, their LoanNow score will rise, which will help them qualify for lower interest rates in the future.

Borrowers can also lower their interest rates by getting their friends and family to vouch for them through group-signing. Friends and family act as micro co-signers by committing to pay anything from $25 to $500, if the borrower were to default on the loan. Borrowers who use group-signing can reduce their interest payments by up to 50 percent.

What Are LoanNow’s Interest Rates and Fees?

Interest rates vary depending on credit history, employment history, loan repayment history and state of residence.

As of September 2015, the APR of LoanNow personal loans range from 29% to 299% APR depending on which state you live in and your credit worthiness. 

LoanNow does not charge origination fees or prepayment penalties. This is rare in the personal loans industry, particularly for loans designed for poeple who don’t have excellent credit. Even prime lenders, such as Prosper and LendingClub charge origination fees of 1% to 5% of the loan balance. This fee is deducted from the loan amount before the funds are deposited but you still have to pay interest on the total amount.

How Much Money Can I Borrow from LoanNow?

Loan amounts range from $1,000 to $5,000 and loan terms go from 9 to 24 months depending on which state you live in.

Which States Does LoanNow Operate In?

LoanNow operates in California, Georgia, Missouri, New Mexico and Utah

What Is LoanNow’s Application Process Like?

It takes only five minutes to complete the online application and you will get an immediate approval decision. If you are approved and you have a supported debit card, your cash will be deposited in your bank account in a matter of seconds. If your debit card is not supported, your funds are wired directly to your account.

LoanNow can offer fast approval decisions because it connects directly to your bank account and can verify your income and employment information instantly. It also confirms people’s identity by connecting to their Facebook account.

How Is LoanNow Better Than Other Lenders?

LoanNow is an excellent alternative to payday loans and title loans. Customers with bad credit can qualify for reasonable rates and build their credit so they can qualify for even better rates in the future. The application process is fast and easy. Borrowers can complete the entire process, from application to cash in your account, within a few minutes.

LoanNow has the fastest and easiest application process available. It accepts applications from people with poor credit and provides a way for them to improve their financial health by building up their LoanNow score. This allows them to qualify for lower interest rates in the future.

The interest rates are not low, but they’re better than payday loans and other alternative lenders, which are the only real alternative for borrowers with bad or poor credit. Its group-signing feature allows friends and relatives to vouch for a chunk of the loan, which allows LoanNow to reduce the interest rates it charges. This allows sub-prime borrowers to qualify for much lower interest rates than usual.

  • Credit bureau reporting
  • Interest APR
    29% - 299%
  • Joint loans available
  • Loan Amount
    $1000 - $5000
  • No late fees
  • Max Loan Term (Months)
    24
  • Lend to military?
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
    1
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0 votes

Out 550 dollars with the quickness suposively there going to mail it back in 7 business days we will see


0 votes

I need money to pay bills Ok and ill get it.


0 votes

I was trying to consolidate my bills. My credit score was 635. I quickly prequalified then went through the 2nd portion of the application. It was simple enough, but I received a message saying it was taking longer than expected & they would send an e-mail soon which they did, only to inform me that my credit score was 631 & that didn't necessarily mean I wouldn't get the loan, but they were still looking over my application. I never heard anything else that day so ... I called them the next day only to be told the loan had just been denied & they were about to send an e-mail to notify me. I have yet to receive that notification. It just built up my hope only to be let down. More Less


0 votes

I have bad credit, 620. So I applied for a $2500 loan and got approved, with 229% APR. My total payment would be $6422: $247, 26 payments for a $2500 loan. If you have bad credit, stay away from this company.


0 votes

Filling out the application was easy, was given a loan amount and payment schedule quickly. Only had to send in two documents that was seamless to upload and approved the next day.


0 votes

What a joke first they said I was pre-qualified then after process not approved.


0 votes

Just keep in mind that companies pay other companies to post good reviews. I know this because I have several business owners in my family that get offered positive facebook and website reviews in exchance for money. companies doing this dubious practice are foreigner, located mainly in india and pakistan.


0 votes

Company needs to change advertising claim. Their message youre a person not a credit score is false because pre qualification is based on score.

0 votes

Attempted to apply, but I get a "server error" message when I had pressed the "everything looks fine" button. I probably would have been declined anyway.


0 votes

Did not get approved, after credit was checked. Even though the website says "you're a person, not a credit score", the credit criteria is definitely used, not the person.


0 votes

It's been awhile, but I've applied for other personal loans and I can tell you that the loan process itself makes you want to just say the heck with it and quit. LoanNow's process was super simple! They have an online income verification that literally takes seconds! Wow was I impressed. I was even more thrilled when they quickly approved me for the loan amount I needed.


0 votes

I had not so good credit and a huge balloon payment looming and I was desperate. A friend told me about LoanNow and I thought, what the heck do I have to lose? I am so glad I applied. I got a loan at a much better interest rate than the balloon payment and now I can breathe easier at night.


0 votes

This place is full of shit. The sent me a text and an email saying congratulations you have been approved, it will take 2-3 business days for you to receive your funds. On the 3rd business day I didn't receive the funds so I called. They told me "Oh I don't know what happened, maybe the computer was down but your loan has been denied". What a waste of time. They had me thinking I was approved and even set up automatic payments from my checking account. I ... had a loan number and everything. Don't waste your time with this place. They play with your emotions. More Less


0 votes

they did not get me the loan i needed, took a hit on my credit report that i did not need to take. very frustrating. did not get back to me in the 20 minutes that they said.


0 votes

Everything about my loan with loan now went smoothly. The application process was a breeze. They approved me quickly and I got the loan amount I wanted and the payoff length is perfect for my budget. I can't really say enough good things about LoanNow. I would use this company above all others!


0 votes

Credit Score of 620. Not Approved. Wow. Reviews made the process seem simple, but I was denied immediately. Everybody else in reviews seemed like their were approved with bad credit. Not me.


0 votes

When they say they actually care about their customers, they mean it. I don't think I have ever come across a loan company quite like this. They gave me the cash I needed, in a short amount of time, and I did everything online. Awesome experience!


0 votes

Want a loan that goes smoothly and has excellent terms that allow you to sleep at night? Get a loan from this company. I am really happy with the interest rate I got. No, it's not perfect, but for someone with really imperfect credit, you'd be surprised at how low it is. I would suggest this loan alternative to anyone with so-so to even bad credit.


0 votes

LoanNow gave me the chance that no other lender would. My credit wasn't great and I fell on some hard times. But I needed money to pay rent or else I was going to be out on the street and lose my job. LoanNow helped me keep it together and now Im back on my feet again.


0 votes

When I read that you could complete the entire loan process from cash to getting your money in just a few minutes, I was like, Yeah, right!! But to my amazement it was true! I applied within a few minutes and thought, is that all?? Then the next thing I know I am approved and the money is on it's way. I was shocked and stoked!


0 votes

When I read that it would only take a few minutes to apply and I'd know in seconds if I was eligible to get the money, I couldn't help but give this a try. What a find! They give you a fair loan at a great price. And the payback is easy and understandable, too. Really glad I gave them a try!


0 votes

This is the place to go if you have okay or not so great credit and you want to get a loan with a decent interest rate and good payoff terms. I know, because I've tried a lot of the loans out there. I have chronic money problems. Anyway, this place knows what they're doing and doesn't jerk you around like some places.


0 votes

My only regret is not trying out this company a long time ago. I feel silly now, since a friend has been telling me about this company and I kept ignoring him and using a payday loan provider that I had used for awhile. After trying out LoanNow I will NEVER go back to that payday loan provider. This experience has shown me how ripped off I had been. Of course my friend couldn't help but say "I told you so!" Oh, well, he was right!


0 votes

LoanNow may have literally saved my life. I have high blood pressure, and it was soaring despite taking medications when I found out that I had back taxes to pay within mere days. I found LoanNow and saw that they are quick with funding and decided to apply right then and there. I got the money in my account within an hour of signing up! I felt my blood pressure go down immediately! Paid off Uncle Sam and feel so relieved!


0 votes

Except for the fact that LoanNow has a cap at loan amounts at $10,000 and I wanted $12,000, my loan process was incredibly easy and quick. I have the money and am able to make the amount work, and even better the interest rate isn't that high and I have an entire two years to pay it off.


0 votes

Really like how you can apply for a good chunk of money and that you have awhile to pay it off--from 12-24 months. I can't tell you how many loans I've gotten that were only a small chunk of the amount I wanted, and then they wanted me to pay it back in a few weeks! This was a really refreshing experience. I'lll do it again!


0 votes

I had pretty crummy credit so I figured that I was out of luck for getting a loan that didn't include horrible interest rates. I gave LoanNow a try anyway, because I really needed the money. What a pleasant surprise. They gave me a loan at 29% interest! I guess my credit wasn't as bad as I thought. I also have a good work history.


0 votes

Terrific alternative to a payday loan, and it works even if your credit isn't pristine! So glad to get away from predatory interest rates that were truly killing my budget. I also like their blog--good info on getting back on track financially.


0 votes

I was totally flabbergasted when I applied for a loan with this company! The loan process went really, really quick and then they said I was approved. I figured it would take them a week or so to get me the money, but no! Within mere seconds I had the money in my account. Wow! What service.


0 votes

I heard about loan now from a friend and decided to check it out. I needed money really fast and I heard from my friend that this was the only loan company she ever used that got her money within a couple days. The paperwork was easier than I thought and the loan went through superfast - within a day or two. I don't have the greatest credit but I still got the money I asked for and in a very quick amount of time.


0 votes

How do I say how much I love this loan company. I got approved in less than three hours for a loan that I tried at at least three other places and got denied. Everything was so easy customer service was so nice and it went off without a hitch. I would never trust another loan company again!


0 votes

So easy! I don't know what these other loan companies are doing or why they can't get on that easy train. Everything is so straightforward and easy and your money is there within days. I don't know why I would ever go through any other loan company. Try it for yourself!


0 votes

My experience with LoanNow was great. Process was quick and easy. No hassle. Called a customer rep with a question and she was polite and professional. I am truly pleased with this company. When needing a quick, easy loan this is the place to go. Remember, its best for short term loan or pay down the principal as quickly as possible, because it can be expensive if payments are drawn out for a long period. Other than that it fine. Thank you.


0 votes

In the world of consumer lending, for too many people, the only choices are banks (or credit unions) or payday loans. But LoanNow represents a great alternative. They combine the speed and convenience of payday loans with realistic repayment periods and interest rates that are way lower, too. Plus they dont jerk people around with rollovers that make loans bigger instead of smaller. They actually try to help people improve their credit so they can qualify for better loans. They have an A+ rating from the BBB and they ... earned it. Definitely recommend. More Less


1 votes

This company is truly appropriately named. I didnt have to wait and wait and wait in vain for my loan in a panic about making my car payment. I got the loan quickly, and it was so easy to apply online. I have to admit that at the time of applying I didnt really consider this positive aspect, but now Im really grateful that taking out a LoanNow loan actually helped my score, which really needed help! Im excited about the fact that in the future, if I need a ... loan again, because Ive been satisfactorily paying off my loan at LoanNow, I can qualify for a lower interest rate loan. You cant get that when you get a payday loan, which, by the way, Ill never get again now that Ive found LoanNow. More Less


0 votes

When I saw that the interest rates at LoanNow were a mere fraction of what I've been paying, I applied right away. I figured the rates were so good because they only take people with good credit, but I was thankfully wrong. My credit isn't great, but I got a great interest rate and all the money that I wanted.


0 votes

My experience has been pretty exceptional with this company.. I completed my application online along with the verification, and almost immediately after approval, the funds were deposited into my account the same day, THAT SIMPLE!! The payments on my loan are also very affordable which allows me to pay it back with financial ease... Thank you Loan Now :-) ....

1 votes

It helps easy the stress of so many payments into one simply monthly payment. Than your credit score goes up.!!!!

1 votes

Loan Now made it so easy for me to get the money I needed in a hurry. You truly are just a few clicks away. Thank you Loan Now for rescuing me in a time of need.

1 votes

Simple to work with, incredible administration! Far better than any pay day loan place. These guys are hands down the best!

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