LoanMe is a lending company that offers both personal and small business loans to residents of Arizona, California, Delaware, Idaho, Kentucky, Missouri, New Mexico, South Carolina, Texas, and Utah. LoanMe offers that are typically used for one-time purchases or .
The company advertises a quick, easy application and approval process for qualified applicants, and it's even possible to have money deposited into your in as little as three to four hours. The max length for a is 15 years, and range from $600 to $100,000*.
Readbelow to see what past borrowers have to say about this .
*Loans for $600 are only available to California residents, and the maximum loan amount for subprime borrowers is $20,000.
LoanMe personal loans range from $600 to $100,000. However, that amount can vary depending on the 's , state of residence**, and other personal information. The annual percentage rate (APR) and for a loan will also fluctuate based on these factors.
LoanMe's minimum requirement is undisclosed. Howver, to qualify for the lowest rates and highest , an applicant should have a FICO score of 760 or higher. This is considered very good, but may not be attainable for all borrowers.
LoanMe does offer loans for applicants with lower scores. However, these personal loans are much smaller and will only qualify for high interest rates. There are flat fees instead of percentage-based fees, and the repayment terms are much shorter as well.
**State of residence range from $1,000-$20,000 in the following states -: The Subprime
The only Subprime product in Arizona however is at $10,600.
Most keep their lengths between two and five years. LoanMe, on the other hand, offers a maximum length of 15 years. It's beneficial for customers to have more flexibility in their terms, especially if they have a unique financial situation and need quick funds but won't be able to pay them back right away. This also provides more flexibility in options.
However, be aware that if you are a with a longer , you may pay smaller monthly payments, but this means you will have to pay more money in interest charges over the lifespan of the .
LoanMe advertises a quick, easy application process that can provide applicants with in just a few minutes. The entire application process takes only five minutes to complete.
LoanMe's application asks for basic contact and personal information (state of residence, name, phone number, address, birth date, social security number, driver's license, etc.), as well as personal proof of income information (monthly income and expenses), any business ownership, and if the applicant is or has ever been enrolled in 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 , so the could potentially have the money in their hands within three to four hours if all required documents are received prior to 1 PM PST on a business day.
LoanMe provides several reliable methods for contacting its customer service department, as well as other departments such as collections service, loss mitigation, complaints, and the application department. The general customer service department can be reached via phone or email. This makes it simple for borrowers to get the help they need with little effort and no headache.
LoanMe does not charge any fees. This means that borrowers can make extra payments on their loans, and they will not be charged for repaying back the earlier than the due date. LoanMe actually encourages borrowers to do so to save money in interest fees.
Many have terms that limit what borrowers can spend their on. However, LoanMe has no fund limitations, enabling you to borrow money and spend it on whatever you'd like. Whether you are putting the funds towards medical bills, home renovations, , or any other major expenses, you have the freedom to control where the borrowed money goes.
LoanMe's personal loans are great for , as its annual percentage rate range and are extremely flexible and are based on your individual financial situation, , and .
LoanMe offers competitive rates (although the personal loan interest rate range is not disclosed on LoanMe's website) and could potentially save you a lot of money in interest charges if you pay off high-interest debt with your . LoanMe offers a manageable payback process and you can repay the as quickly as you want with no prepayment penalties on additional payments.
If you pre-qualify for a , this will not affect your . LoanMe first completes a soft inquiry to determine your rates and fees. You will not receive a hard inquiry on your until you accept LoanMe's offer and officially borrow the . This makes it simple for borrowers to compare lenders' rates and terms before making their final purchasing decision.
LoanMe complaints are limited, as most of its reviews are positive and highlight a satisfactory customer experience. Current note great rates even for people with poor scores, a fast and efficient , and a professional staff with quality customer service.
LoanMe has not disclosed whether or not it charges an get a through the , be sure to read your contract carefully so that you are aware of all fees that you may be subject to. However, it's common with to take the required upfront fees out of the amount before transferring the funds to your , so if you do have to pay an or another processing fee, you don't have to pay them out of your own pocket. , check processing fees, or late fees as part of its terms. If you do decide to
LoanMe offers its services in the following states: Arizona, Delaware, Idaho, Kentucky, Missouri, New Mexico, South Carolina, Texas, and Utah. Unfortunately, if you do not currently reside in one of these states, you will be unable to use LoanMe for your lending needs.
Founded in 2013, LoanMe hasn't been in business as long as some of the other lenders in the industry. This may be a concern to customers interested in the company. However, although the company has less experience, LoanMe has proven itself as a trustworthy name with quality offerings and a satisfied customer base.
A specific personal loan interest rate range is not discolsed on the LoanMe website. However, for those with poor debt, you will likely be paying an close to what your is already charging you or possibly higher. The most common complaint from the one star is due to high interest rates, but you will have to inquire to get a quote for your possible APR rate. scores looking to consolidate
If you are trying to pay off a student repayment. or some other type of or debt with a low over a longer period of time, LoanMe may result in higher interest rates compared to other lenders, resulting in more money being spent towards your
Call our recommended rep over at LoanMe below.
I would like to start off by saying please do not get a loan from this company. Look for other alternatives. Loan Me preys on desperate people. That's why all you need to have is income in order to qualify. The rates are extremely high as well. I went to them in a desperate situation. My mom passed away and I had to take a leave of absence in order to care for her during her last few months. I went to loan me. They approved me at 184% interest. I went back to work and my son assisted me with paying off an extremely high debt to them. This company claimed that they never received one of the payments which was in the amount of $1000. I showed them proof by my son's bank statement that it was paid directly to them the bank even verified this. They still refused to acknowledge that they received it. My son had to file a fraud claim against them through his bank. The bank reimbursed my son. Loan Me threatened to ruin my credit if I did not pay the money all over again. In the meantime they kept the money and even refused to pay the bank. Now I am stuck with additional unfair fees and I still have to pay another $1000 . Loan Me fraudulently made an extra $1000. Thank God the bank saw the truth and reimbursed my son. What is sad I'd that no one thst I spoke to would look at the evidence and make a logical conclusion that I was right. I will never do business with Loan Me and I have asked friends and family to please not even talk to these people. I pray that I have been able to help someone with my experience.
I was late to my payment because of a financial hardship and Loan Me customer service reps were very rude and harassing me at my employment talking to my HR manager and asking for me to verify my social security over the phone. This is unacceptable and against the law to harass me for something I can’t pay for due to hardship. I will continue to file a complaint against them. Payments are 400 a month for 2600 which is ridiculous.
The interest is way too high, but I agreed knowing I was going to pay it off. Unfortunately, paying more to take the loan down isn't as effective as I was told. Example: if you pay an extra $500 they will take $100 in interest.
Reply from LoanMe
Sep 30, 2019
Hi Kelly, Thank you for taking the time to post a review. It's important to keep in mind that when you are making an extra payment, it should be done on your actual due date (1st of the month). Your scheduled monthly payment will take care of the scheduled interest payment, and the extra funds that you pay will go directly to principal, which is in accordance with your Promissory Note. If you have any other questions or would like to discuss this matter further, please email . Thank you
Good people but the interest is too high .
Robert herrera jr
I understand it''s a quick and easy loan process but i think there should be a payment option.
They were there to help right away no question asked.and it was very fast
They're ok, I needed money fast and they did it but the interest rate is going to kill me.
Too much interest for me. But, you get the money you need real fast.
Payment too high interest too high not satisfied
The way payments are applied that are made before the due date are not considered an early payment to avoid paying more on interest instead it''s considered an extra payment towards interest only.
Interest is high, I honestly made a huge mistake getting the loan, I will be paying way too much money for this
The itrest to high and evry month for your paiment one dollar gos to the prinsipal and you monthly paymenbis 294 a month so don ever get this caind of lone
They gave me the loan I needed and i was able to take care of my immediate problems
Because applying process is easy and straightforward
Good customer service, there when I needed them...
I like their customer service, very kind.
They were very thorough and followed through on each step to process my loan. They even checked to be sure the transfer was completed.
They were all efficient and professional
They help you to understand every step of the process. Couldn''t do it on my own and they take their time to help every step.
Quick and Easy No hassles or problems very friendly when I spoke to someone
They are easy company to talk and work with.
Because of the staff. Roger was so helpful and so nice. He took his time with me and explained the loan and answered all my questions without making me feel like I was a pain or a bother.
Very easy to use. Extremely professional staff. Very quick with assistance, and identifying a workable solution when I ran into issues. Great at offering options all aimed at best meeting my needs, and coaching to select the option best meeting my immediate situation as well as thought to longer term/down the road potential issues or positives that may help.
Impossible rates basically legal scammers and will rob you never go for it
Their customer service is very good and friendly. I only rated them a 3 star because their loans are very expensive. If you really needed the money for a short term, and can pay it back fast, then it's ok.
None of my 332.59 goes towards my prinpal payment that doesn't sound right to me. So will be making extra payments
Very very high interest and seems like u never finish paying
Interest way to high, I cannot get a clear answer, and what original loan me agent told me was not true. I was told I can pay more to pay the pan quicker, one agent said in have to pay in the first of the month or it will just be going to interest, another loan agent didn't seem to knowledgeable and asked her manager who said I can pay within the 1st 2 weeks but she won't give me a clear cut answer. You speak in jargon knowing your customers have no idea what you're talking about in an attempt to screw them. So I haven't paid more then my minium balance cause I don't trust you're company. I will tell everyone I know as o have already and once paid off will have learned a valuable lesson.
Unprofessional along with none of the workers are on the same page. Different employees tell you different things each time you get transferred.
They take more fees than other loan companies
Great service . Appreciate help from the CS I spoke with. It was great
They gave me the loan I needed, at a rate that was good for, and the time I needed to pay back.
Fast approval and very good customer service.
Fast, professional, easy. I was a little strapped for money and I was looking for a small loan to help with bills and debt consolidation. LoanMe made it very clear and simple, and I had the money I needed within about 30mins.
Very quick service. Kind people and professional assistance
Kept their promise and gave me the loan
They were there when I needed the extra cash and I was able to get the loan the same day
Happy to get an excellent customer service
jesse silvers sr
they are top notch, but i would like various ways to pay my bill.using my crdit card is a pain and i cant get to moeygram or western union until im on my day off.
They provided excellent customer service from start to finish. They were there when I needed them the most when nobody else could help me.
They work around my payday schedule very good
They helped me out when I needed to change due date . Understanding. And fast.
Customer Service and response time was timely and professional
helps me a lot! easy access! easy to talk to them! very helpful
Extremely high interest. Forever to pay back. Taking advantage of people with poor credit
I pay $388.00 and only $1.00 go to principal
Their APR of 135% is outrageous. The money you end up paying back is almost six times what you borrowed unless you pay it right back. Who can do that? You are borrowing money from them because the money you have for what you are buying is inadequate that is why you are borrowing money.
The interest rate is terrible, basically highway robbery, I was in a dire situation and now I am desperate to pay this off at 106% interest
The loans are too expensive. Even for a small term loan is too high when you pay back you're paying double the amount
I give loan me 4 stars. They put the money in my account the next day... BEWARE IF YOU CANT PAY IT BACK WITHIN TWO MONTHS DONT GET OT CRAZY HIGH INTEREST RATES I WOULD NOT DO IT AGAIN BE CAREFUL ''