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Overall Score

20 User Reviews

3 months ago


LoanMe offers APRs as low as 9.9%

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Founded in 2013 and headquartered in California, LoanMe is a lending company that offers both personal and small business loans to residents of California, Arizona, Delaware, Idaho, Kentucky, Missouri, New Mexico, South Carolina, Utah, and Wisconsin. All of its loans are unsecured and are typically used for one-time purchases or debt consolidation. The company advertises a quick, easy application and approval process for qualified applicants.

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The Good

  • Flexible Loan Options
  • Simple Application Process
  • Customer Service

Flexible Loan Options

LoanMe offers personal loans amounts ranging from $2,600 to $100,000. However, that amount can vary depending on the borrower's credit score, a state of residence, and other personal information.

FICO 740 and up:

  • $7,500 to $100,000 loan amounts
  • 9.9 to 12.9 percent interest rate
  • 12 to 17 percent loan fee
  • 15-year repayment term

FICO 700 and up:

  • $7,500 to $75,000 loan amounts
  • 12.9 to 18.9 percent interest rate
  • 15 to 25 percent loan fee
  • 15-year repayment term

FICO 660 and up:

  • $7,500 to $50,000 loan amounts
  • 19.9 to 22.9 percent interest rate
  • 23 to 33 percent loan fee
  • 15-year repayment term

FICO 645 and up:

  • $7,500 to $50,000 loan amounts
  • 19.9 to 31 percent interest rate
  • 33 percent loan fee
  • 15-year repayment term

For applicants with lower credit scores, LoanMe's available loan amounts are much smaller and its interest rates are higher. There are flat loan fees instead of percentage-based fees, and the repayment terms are much shorter as well.

Simple Application Process

LoanMe advertises a quick, easy application process that can provide applicants with pre-approval in just a few minutes. The company's personal loan application asks for basic contact and personal information (state of residence, name, phone number, address, birthdate, social security number), as well as personal income information (monthly income and expenses), any business ownership, and if the applicant is or has ever been enrolled in credit counseling or a debt settlement program. The entire process can be completed online or over the phone. Funds are wired directly to the applicant's bank account, so the borrower could potentially have their money in hand within hours.

Customer Service

LoanMe provides several reliable methods for contacting its customer service department, as well as other departments such as loan applications, collections service, loss mitigation, and complaints. The general customer service department can be reached via phone or email.

The Bad

  • Fees May Apply

Fees May Apply

LoanMe has not disclosed whether or not it charges origination fees, check processing fees or late fees. If you do decide to get a personal loan through LoanMe, be sure to read your contract carefully so that you are aware of all fees that you may be subject to.

The Bottom Line

LoanMe is a California-based lending company that provides personal, auto, and small business loans to customers in select states. Specific loan amounts, interest rates, fees, and term lengths vary depending on location. In some states, a good or excellent credit score may qualify applicants for higher loan amounts from $7,500 to $100,000, with interest rates that range from 9.9 to 22.9 percent. For consumers with great credit scores, LoanMe may be a good choice. However, individuals with subpar credit should consider other options, as they could be subject to an incredibly high APR with LoanMe.

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User Reviews


20 Reviews

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September 4th, 2018 Tracy, CA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

Pay attention. About 6 months ago, I was shopping lenders for a personal loan. I had used loanme in the past and was pleased with the interest rate and service. Because of that experience and a 13% interest rate quoted by a rep, I chose to borrow from them. Fast-forward 6 months later, I call to pay off the loan and I'm told the payoff amount is more then the amount I borrowed. Turns out my 13% interest rate was really 134%. Carefully read any documents they send u. My credit score was good and I could've gotten a much better rate anywhere else.

July 5th, 2018 Pico Rivera, CA DETAILS
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I needed the money urgently the monwy was the within hrs. The only theing is that interest is horribly high. but i managed to pay it off in months as a whole to avoid all those extra charges. Otherwise they were very prof. vey helpful.

April 30th, 2018 Hampden, ME

The customer service is horrible. I called twice to ask a couple of questions, each time I called was a different person, they were both rude.

rajdeep singh
June 5th, 2017

this not good company not explain lone terms lone transfer after explain statements

Jeana Reynolds
May 22nd, 2017 San Rafael, CA

I was very impressed by the responsiveness and overall high level of customer service that was provided to me throughout the process.

Jacqueline Laprevotte
May 17th, 2017 San Jose, CA

AMAZING experience and fast. Would do business here again!

April 10th, 2017 Coachella, CA

I needed the money right away and LoanMe was there, offered more than enough. They were courteous, very understandable and helpful! PS

March 31st, 2017 Glendora, CA

Professional service with employees that know what they are doing. I got exactly what I expected with no surprises. Thank You

March 13th, 2017

For me it was easy to do no bate and switch.

Stephen B
February 7th, 2017 Saint Louis, MO

This is a joke. My credit is 688 - not great; but good. I applied for a personal loan for $10,000 to do some home improvement work. They told me I was approved and just needed to verify my bank account. After "verifying" my account four times. They said it had only been open 1 month. I have had the account for 20+ years and called the bank. I called back my "Senior Loan Agent" Andre to tell him they were checking my wife's Christmas Club account and not our checking account. Then a Customer Service Rep called to ask me some questions to verify my identity. I answered everything. He said I would be getting a call from Andre with good news. I literally was hanging up with him - when I got the "decline" letter. Indicated because of my credit score and delinquent account. I missed one payment of $40 back in 2013. Other then that, I have 1 credit card, no loans, nothing....Amazed at the fact that they literally ran me through the ringer and after verifying my identity - declined me? what a joke. What is worse, I wasted an entire day dealing with these people, wasted part of my wife's day and all I got was a hard hit on my credit! Stay away!!

Sydney Singletary
January 26th, 2017 Sacramento, CA

Thanks especially to the whole team for an easy transaction, delivery and respect through out the entire process. You rock and are a godsend.!!!!

January 23rd, 2017

I was very pleased with the service I got.Kevin keep me in contact of what needed to be submitted to get approved....I would totally recommend loan me to family and friends

Maria E
February 1st, 2017

Customer service was fast and nice helpful with the information that was needed also Gustavo T was very patient.

Brittany Fegan
January 11th, 2017

Great company to work with. Fast and thorough

A Smith
February 1st, 2017

LoanMe is a seriously great service for people with poor credit who need a loan to take care of things and or build their credit back up. Tim B is just super!

Lisa smith
July 28th, 2016 Cleveland, OH

So do they let you get it western union if you dont have a bank account

kim erwing
May 6th, 2016 Woodland Hills, CA

5,000.00 loan , 2 years ago…paying 499.00 in interest and $1 in payment….this company need an investigation and to be closed down

April 13th, 2016 Corona, CA

By far the worst company Ive ever had a loan with. My loan was for the minimum $2600, payment was $294 monthly. I made 3 payments on time with no issues. On the fourth month I had enough $ to pay off the loan. My loan payoff was more than the original borrowed amount $2712. So they received $882 in interest alone for ONLY 3 months (which was my monthly payment each month). NONE of your payment goes toward principle. you loan payoff gradually increases each month. I ended up paying $3594 for $2600 and again I only had the loan for 3 months! Oh and if you want to payoff your loan they accept MasterCard credit only if it's your card, cannot use someone else's. Anyone in a bad credit situation (expecting you will pay high APR) go with AVANT! although Interest is high at 33% it's better than the 134% with Loan me.. STAY AWAY, FAR AWAY FROM LOAN ME!!

Paul Sauer
March 21st, 2016 Salt Lake City, UT

I can't say enough good things about loanme. I have had poor credit and rude service is the norm. Not at loan me. Wonderful service. A pleasure to deal with. I am just surprised that they are understanding and helpful. The whole process of applying for the loan, receiving the funds and the service after is outstanding. I highly recommend this company.

March 21st, 2016 Ashburn, VA

I would only Recommend Loanme if your going to Payoff your loan early as a last resort but this should Not be your first option they suck your account dry so be prepared to payoff this debt sooner than later cause in the long run it will hurt and cost you big time not to mention the other bills you have to pay consider wisely before taking a loan from this company I just paid them off and definitely do Not plan on dealing with them again