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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Ledn's application

Finanso.Multilogin™

How to apply

To apply for a loan and get funding, a potential borrower should provide the lender with initially correct and full information about his or her financial background. Following thе steps indicated on the website guarantees that the request will be proceeded without any delays or additional queries from the service agents and automatically increases the chances for a loan candidate to have the application approved and get properly funded as a result.

To get funded by Ledn the customer should go to Ledn Inc's website and register an account. Once the account is confirmed, the customer can complete and submit a loan application. To submit a loan application the potential borrower will need to provide the company with the following list of documents: a copy of his government-issued identification document, a copy of his proof-of-address document, an image of him holding his government-issued ID, and his bank account details for funding.

Application details

Ledn's application form is fast and easy to complete. Following a simple 10-minute application, the customer may be approved in as little as 24 hours. The application possesses certain features, such as KYC procedure.

To apply for a loan and get access to the company's financial products and all its services at Ledn website an individual should visit either the “Get a loan field” or “Join now”. In both cases the potential borrower will be redirected to the page, called “Sign up”, and requires the following information:

  • First name

  • Last name

  • E-mail

  • Mobile number

  • Password

After completing the above-mentioned procedure the potential borrower will be able to make his application. The details of the application form are displayed after signing up only.

FAQ

Reasons for rejection

Unfortunately, there is a list of cases when a request for getting Ledn's services for borrowers can not be satisfied:

  • The potential borrower does not correspond to the company’s requirements in terms of providing the requested list of documents.

  • The potential borrower is under legal age.

  • The potential borrower does not have in possession an adequate amount of Bitcoin holdings to back up the loan.

How long does it take to get approved by Ledn?

Processing all the data, provided by the customer, including the approval process, normally does not exceed the time slot of 24 hours.

How trustworthy is Ledn?

The lender is fully legitimate and trustworthy due to the following factors:

  • The company prides itself on being an “institutional-grade” lender, partnering with BitGo, a third-party custodian that specializes in storing and providing insurance for digital assets.

  • The company offers a proof-of-reserves attestation by a top-25 public accounting firm, Armanino LLP. When a crypto company offers proof of reserves, it means they’re offering proof they have funds on hand that match up to their users’ balances.

  • Unlike many other crypto lenders, Ledn garners several hundred reviews on Trustpilot, earning a 4.6 out of 5 from nearly 450 customers as of February 2022. More than 85% of reviewers rate the company “excellent,” while 6% rated it “bad.”

  • The company has got clear criteria for the eligibility of its clients.

  • The company offers a clear and simple reimbursement procedure.

Does Ledn verify income?

The company does not perform a credit check on its customers. However, the Ledn loan platform requires all the potential borrowers to provide identifying information for its KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.

Does Ledn hurt your credit score?

Normally each loan given out is automatically affecting borrower’s credit score, but this happens if hard inquiries are happening with regard to his application.

The company is not carrying out a credit checks on its customers that is why it is impossible for a customer to get his score affected or damaged in any way. More than that – if the customer got funded and after this is following his repayments schedule with no delays performed, it automatically leads to his score improving or getting higher.

Calculate loan payments in Ledn

Ledn calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
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Enter the desired loan amount

CAD
CAD
USD
500 $
1000000 $
Loan term
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Specify the loan term for the calculation

days
months
30
360

What to pay attention to when applying for a loan from Ledn

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Ledn from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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