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LoanMe Review

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About lender

LoanMe provides short-term loans up to $750 without requiring a credit check. This means that individuals with bad credit can still apply for personal loans without worrying about their credit history affecting their eligibility. The online application process through LoanMe is quick and convenient, allowing customers to apply for loans from the comfort of their own homes. LoanMe understands the urgency of financial needs and aims to provide cash to customers swiftly, helping them cover unexpected expenses or emergencies.



  • No Credit Checks. LoanMe provides personal loans without requiring a credit check, making it accessible to individuals with bad credit or no credit history.

  • Interac E-Transfer Within the Same Hour. Upon approval, customers can receive their loan funds via Interac e-Transfer within the same hour, ensuring quick access to cash when they need it most.

  • Flexible Repayment Period. Customers have the flexibility to repay their loans within a timeframe of 90 to 120 days, allowing them to manage their payments according to their financial situation.

  • Up to $750. LoanMe offers short-term loans of up to $750, providing customers with the opportunity to borrow a sufficient amount to cover their immediate financial needs.

Pros and cons


No Credit Checks. LoanMe's policy of not conducting credit checks makes it accessible to individuals with bad credit or no credit history, opening up borrowing opportunities for a wider range of customers.

Quick Approval. Customers can benefit from quick approval processes, allowing them to access funds swiftly when faced with urgent financial needs.

Flexible Payment Schedule. LoanMe offers a flexible payment schedule, allowing customers to choose between 3, 6, or 12 installments for repayment, providing them with options that best suit their financial situation and cash flow.


High Interest Rates. One of the drawbacks of LoanMe loans is the potentially high-interest rates associated with borrowing, which could result in higher overall costs for customers.

Limited Loan Amount. LoanMe only offers loans of up to $750, which may not be sufficient to cover larger expenses or financial emergencies for some customers.

Short-Term Loans. Another limitation is that LoanMe specializes in short-term loans, which may not be suitable for individuals seeking long-term financing solutions or larger loan amounts.


LoanMe's reliability can be assessed through various factors, including customer reviews and ratings on platforms like Trustpilot. With a Trustpilot rating of 4.1, it indicates that a significant portion of their customers have had positive experiences with their services. However, reliability can also be influenced by factors such as transparency, customer service, and adherence to regulations. While Trustpilot ratings can provide insight into customer satisfaction, it's also essential to consider other factors and individual experiences when evaluating the reliability of a lending institution like LoanMe.

How to apply for a LoanMe loan

  1. Visit the LoanMe Website. Open your web browser and navigate to the official LoanMe website.

  2. Click "Apply Now". Once on the LoanMe website, locate and click on the "Apply Now" button. This will typically be prominently displayed on the homepage.

  3. Click "Get Started". After clicking "Apply Now," you will be directed to a page where you can start the loan application process. Look for the "Get Started" button and click on it to proceed.

  4. Enter Your Email. On the application page, you will be prompted to enter your email address. Ensure that you provide a valid email address that you have access to, as LoanMe may use it to communicate with you regarding your loan application.

  5. Enter Your Personal Information. Fill out the required fields with your personal information, including your full name, date of birth, residential address, and Social Security Number (SSN) or other identification details.

  6. Enter Contact Details. Provide your contact details, such as your phone number and any alternate contact information requested by LoanMe. This information will be used to reach you regarding your loan application and for future communication.

  7. Enter Financial Obligations Info. Input details about your financial obligations, such as existing loans, mortgages, rent payments, or any other recurring expenses that you have. This helps LoanMe assess your financial situation accurately.

  8. Enter Your References. Provide contact information for references that LoanMe can reach out to verify your identity or financial stability. Typically, references may include family members, friends, or colleagues who are not living with you.

  9. Enter Your Income Info. Fill in details about your income, including your employment status, employer information, monthly income, and any additional sources of income you may have. This helps LoanMe determine your ability to repay the loan.

  10. Confirmation and Submission. Review all the information you've entered to ensure it's accurate and complete. Once you're satisfied, confirm that you agree to LoanMe's terms and conditions, then submit your application.


  • Loan Amount. LoanMe offers loans of up to $750, allowing customers to borrow a sum that suits their immediate financial needs.

  • Flexible Payment Schedule. Borrowers have the flexibility to choose from three different repayment options: 3, 6, or 12 installments. This allows customers to tailor their repayment schedule according to their financial situation and preferences.

  • Annual Percentage Rate (APR). The annual interest rate for LoanMe loans is set at 18.99%. This rate determines the cost of borrowing over the course of a year and is applied to the outstanding balance of the loan.


While there is no official information available on LoanMe's specific eligibility requirements, generally, lenders like LoanMe may have certain criteria that applicants need to meet to qualify for a loan. Here are some typical eligibility requirements that applicants may need to fulfill:

  • Age. Applicants are typically required to be at least 18 years old to apply for a loan.
  • Income. Lenders often require applicants to have a regular source of income, such as employment or self-employment, to ensure they can repay the loan amount.
  • Residency. Applicants may need to be residents of the country or state where LoanMe operates.
  • Bank Account. Having an active bank account may be necessary for receiving loan funds and making repayments.
  • Identification. Applicants may need to provide valid identification, such as a driver's license or passport, to verify their identity.
  • Credit History. While LoanMe advertises no credit checks, some lenders may still consider credit history as part of the application process. However, individuals with bad credit or no credit history may still be eligible for a loan.

Ways to receive the money

Once your loan application with LoanMe is approved, you will receive the borrowed amount through a method specified by LoanMe. Typically, loan funds are disbursed directly into your bank account. This process ensures that you can access the funds quickly and conveniently. After the funds are deposited into your bank account, you can use them for whatever purpose you intended, whether it's covering expenses, paying bills, or handling emergencies. LoanMe aims to make the borrowing process as straightforward and efficient as possible, providing customers with timely access to the cash they need.


LoanMe primarily offers short-term loans with amounts up to $750. These loans are designed to provide customers with quick access to cash to cover immediate financial needs or emergencies. By offering short-term loans, LoanMe aims to provide borrowers with a convenient solution for managing unexpected expenses or temporary financial challenges. With loan amounts of up to $750, borrowers can access a sufficient sum to address various financial obligations without committing to long-term repayment terms. This product aligns with LoanMe's mission to offer accessible and flexible borrowing options to individuals seeking quick financial assistance.

Reasons you may be denied a LoanMe loan

  • Insufficient Income. If your income does not meet LoanMe's minimum requirements or is deemed insufficient to cover the loan payments, your application may be denied.
  • Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on your application may result in denial, as it could affect LoanMe's ability to assess your financial situation accurately.
  • Insufficient Employment Stability. If you have a history of frequent job changes or unstable employment, LoanMe may perceive you as a higher risk borrower and deny your application.
  • Excessive Debt. If you already have a high level of existing debt relative to your income, LoanMe may determine that you are unable to take on additional debt responsibly and deny your application.
  • Not Meeting Residency Requirements. LoanMe may require applicants to be residents of specific states or countries where they operate. If you do not meet these residency requirements, your application may be denied.

How to repay a LoanMe loan

  1. Review Loan Terms. Familiarize yourself with the terms of your loan, including the repayment schedule, installment amounts, and due dates.

  2. Ensure Sufficient Funds. Make sure you have sufficient funds in your bank account to cover each installment payment on the scheduled due dates.

  3. Set Up Automatic Payments. Consider setting up automatic payments through your bank account or LoanMe's online portal to ensure timely repayment and avoid late fees.

  4. Monitor Repayments. Keep track of your loan repayments by monitoring your bank account statements or LoanMe's online platform to confirm that payments are processed correctly.

  5. Contact LoanMe if Needed. If you encounter any difficulties or foresee challenges in making payments, contact LoanMe's customer service to discuss potential options or solutions, such as payment arrangements or loan modifications.

Editorial opinion

LoanMe provides a valuable service by offering short-term loans to individuals who may not have access to traditional lending institutions due to factors such as bad credit or financial emergencies. Their no credit check policy and quick approval process make borrowing accessible to a wider range of customers, while their flexible repayment options allow borrowers to tailor their payment schedules to their financial circumstances. While the high-interest rates associated with their loans may deter some potential borrowers, LoanMe's transparent fee structure and commitment to secure and confidential transactions instill confidence in their operations. Overall, LoanMe serves a niche market, providing a solution for those in need of quick cash, albeit with some associated costs and considerations.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
  2. Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
  3. Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
  4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
  5. Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
  6. Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).


At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

  • LoanMe Customer Reviews



What is LoanMe?

LoanMe is a financial services company specializing in providing short-term loans to individuals in need of quick cash for various purposes.

How quickly the funds can be received?

Funds from LoanMe can typically be received within a short timeframe, often on the same day of approval, providing borrowers with swift access to the funds they need.

How do you qualify for LoanMe?

To qualify for a LoanMe loan, applicants typically need to meet certain criteria such as having a regular source of income, providing identification documents, and meeting residency requirements.

How much can you borrow from LoanMe?

LoanMe offers loans of up to a certain amount, often capped at $750, providing borrowers with access to a modest sum to cover their immediate financial needs.

Is LoanMe a legitimate company?

Yes, LoanMe is a legitimate company that provides financial services to customers in need of short-term loans. They operate within regulatory guidelines and have a track record of serving customers' financial needs.

Applying for a personal credit is easy. Very easy!

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