Founded in 2013 and headquartered in California, 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, and Utah. 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, and it's even possible to have money deposited into your checking account in as little as three to four hours. The max length for a LoanMe loan is 15 years, and loan amounts range from $2,600 to $100,000. Read LoanMe reviews below to see what past borrowers have to say about the online lender.

The Good

  • Wide Loan Fund Range
  • 15-Year Max Loan Length
  • Simple Application Process
  • Customer Service
  • No Worry Guarantee*
  • No Prepayment Penalties
  • No Fund Limitations
  • Great for Debt Consolidation
  • Soft Credit Score Inquiry
  • LoanMe Reviews

Wide Loan Fund Range

LoanMe personal loans range 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. The annual percentage rate and repayment term will also fluctuate based on these factors. 

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 than the minimum credit score of 645, LoanMe personal loans are much smaller and require high interest rates. There are flat loan fees instead of percentage-based fees, and the repayment terms are much shorter as well.

15-Year Max Loan Length

Most personal loan lenders keep their loan lengths between two and five years. LoanMe, on the other hand, offers a maximum loan length of 15 years, giving borrowers a long stretch of time to pay off their loans. It's beneficial for customers to have more flexibility in their loan 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 monthly payment options. However, be aware that if you are a borrower with a longer loan term, you may pay smaller monthly payments, but this means you will have to pay more money in interest charges over the lifespan of the loan. 

Simple Application Process

LoanMe advertises a quick, easy application process that can provide applicants with pre-approval in just a few minutes. The entire application process takes only five minutes to complete. LoanMe'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 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.

Customer Service

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 loan 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. 

No Worry Guarantee*

LoanMe offers a No Worry Guarantee for California residents.* If you change your mind within seven days of funding, you can return your loan and LoanMe will waive all interest and fees. This allows borrowers a trial period in case they decide a LoanMe personal loan is not for them. 

No Prepayment Penalties

LoanMe does not charge any prepayment fees. This means borrowers can make extra payments on their loans, and they will not be charged for repaying back the loan earlier than the due date. Having the ability to repay the loan as soon as you'd like with no penalty could save you a great deal of money in interest fees. 

No Fund Limitations

Many personal loan lenders have terms that limit what borrowers can spend their loan funds 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, debt consolidation, or any other major expenses, you have the freedom to control where the borrowed money goes. 

Great for Debt Consolidation

LoanMe's personal loans are great for debt consolidation, as its annual percentage rate range and loan amounts are extremely flexible and are based on your individual financial situation, credit score, and credit history. LoanMe offers competitive rates and could potentially save you a lot of money in interest charges if you pay off high-interest credit card debt with your personal loan funds. LoanMe offers a manageable payback process and you can repay the loan as quickly as you want with no prepayment penalties on additional payments. 

Soft Credit Score Inquiry

When you are pre-qualified for a LoanMe personal loan, this will not affect your credit score. LoanMe first completes a soft credit inquiry to determine your rates and fees. You will not receive a hard credit inquiry on your credit report until you accept LoanMe's offer and officially borrow the loan funds. This makes it simple for borrowers to compare lenders' rates and terms before making their final purchasing decision. 

LoanMe Reviews

LoanMe complaints are limited, as most of its reviews are positive and highlight a satisfactory customer experience. Current LoanMe reviews note great rates even for people with poor credit scores, a fast and efficient loan process, and a professional staff with quality customer service.

Get Pre-Qualified

The Bad

  • Additional Fees
  • Limited Coverage Area
  • Time

Additional Fees

LoanMe has not disclosed whether or not it charges an origination fee, check processing fees, or late fees as part of its loan terms. If you do decide to get a personal loan through the lender, 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 personal loan lenders to take the required upfront fees out of the loan amount before transferring the funds to your bank account, so if you do have to pay an origination fee or another loan processing fee, you don't have to pay them out of your own pocket. 

Limited Coverage Area

LoanMe offers its loan services in the following states: Arizona, California, Delaware, Idaho, Kentucky, Missouri, New Mexico, South Carolina, 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. 

Time in Business

Founded in 2013, LoanMe hasn't been in business as long as some of the other lenders in the personal loan 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. 

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 credit score may qualify applicants for higher loan amounts from $7,500 to $100,000, with interest rates that range from 13.3 to 22.9 percent.

For consumers with great credit scores, LoanMe may be a good choice. However, individuals with subpar credit should make sure they are getting the best possible APR, as interest rates can rise in the case of a poor credit score and credit history. If you want to learn more about the online lender and its customer experience, you can read LoanMe reviews below. Current reviews highlight a simple application process, competitive rates, and quality customer service. 

We'll Introduce You!

Call our recommended rep over at LoanMe below.

1-(844) 299-4668

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User Reviews

Star Rating

3.8
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223 Reviews

Review Breakdown

5 star
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Andre Mcduffie
March 18th, 2019 DETAILS
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Professional and courteous customer service

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Reply from LoanMe

Aug 07, 2019

Thanks so much for taking the time to review us! We are glad to hear that we could be of service.

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Anthony
March 18th, 2019 DETAILS
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Loved that the process was fast & easy. Interest is just entirely too high for my liking.

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Reply from LoanMe

Aug 07, 2019

Thank you for your review and insight and thank you for being a LoanMe customer.

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Elizabeth Rodriguez
March 18th, 2019 DETAILS
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I give Loanme five stars because they were fast and thorough.

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to write about your experience. It is wonderful to hear that we were able to provide you with the excellent experience we strive to provide all our customers.

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Val
September 4th, 2018 Tracy, CA DETAILS
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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.

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to post a review. We apologize if our service did not meet your expectations. Your comments will be heard to assist us in maintaining the high standard we strive to achieve with every customer.

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July 5th, 2018 Pico Rivera, CA DETAILS
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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.

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Reply from LoanMe

Aug 07, 2019

Thank for taking the time to review us, and thank you for being a LoanMe customer.

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JT
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.

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to post a review. We apologize if our service did not meet your expectations. We set a high standard for ourselves and your comments will be heard to assist us in maintaining those standards.

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rajdeep singh
June 5th, 2017

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

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to post a review. We apologize if our service did not meet your expectations. We strive to provide each client with an excellent lending experience, and we are actively working to improve service levels to better meet our customer’s needs.

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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.

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Reply from LoanMe

Aug 07, 2019

Thank you so much for this great 5-star review. We really appreciate you being a loyal customer and helping to share the word about us.

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Jacqueline Laprevotte
May 17th, 2017 San Jose, CA

AMAZING experience and fast. Would do business here again!

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Reply from LoanMe

Aug 07, 2019

Thank you so much for sharing your experience with us. Our goal is 100% customer satisfaction and it sounds like we achieved that goal with you. We want every experience to be “five stars”!

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Paulette
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

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Reply from LoanMe

Aug 07, 2019

Thank you so much for your kind words, Paulette. We really appreciate you taking the time out to share your experience with us—and we count ourselves lucky for customers like you.

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RQ
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

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Reply from LoanMe

Aug 07, 2019

Thanks so much for taking the time to review us! We are glad to hear that you are very satisfied with your lending experience!

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Kelly
March 13th, 2017

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

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to write about your experience. It is wonderful to hear you were very satisfied with your lending experience.

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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!!

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Reply from LoanMe

Aug 07, 2019

Thank you for taking the time to post a review. We apologize if our service did not meet your expectations. We set a high standard for ourselves and we are actively working to improve service levels to better meet our customer’s needs.

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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!

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Reply from LoanMe

Aug 07, 2019

Thank you so much for your kind words. We really appreciate you taking the time out to share your experience with us—and we count ourselves lucky for customers like you.

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Maria E
February 1st, 2017

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

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Reply from LoanMe

Aug 07, 2019

We are glad to hear that you have had such a pleasant lending experience working with LoanMe. Thanks for your business!

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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.!!!!

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Reply from LoanMe

Aug 07, 2019

Thank you so much for this great 5-star review. We really appreciate you being a loyal customer and helping to share the word about us.

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Daisy
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

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Reply from LoanMe

Aug 07, 2019

Thank you for your review and insight and thank you for being a LoanMe customer!

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Brittany Fegan
January 11th, 2017

Great company to work with. Fast and thorough

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Reply from LoanMe

Aug 07, 2019

Thanks so much for taking the time to review us! We are glad to hear that you are very satisfied with your lending experience!

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Lisa smith
July 28th, 2016 Cleveland, OH

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

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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

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Teresa
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!!

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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.

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Brooke
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