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.

LoanMe Review

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About Lender

LoanMe is an online lending platform that provides personal and business loans to individuals and small businesses in the United States. The company was founded in 2012 and is based in Anaheim, California.

LoanMe offers unsecured personal loans ranging from $600 to $100,000, with repayment terms ranging from 2 to 10 years. The loan application process is entirely online, and borrowers can typically receive funding within one business day of approval.

In addition to personal loans, LoanMe also offers small business loans ranging from $3,500 to $250,000 with repayment terms of up to 10 years. The company claims to have a simple application process and fast funding for small business loans.

LoanMe's loan products may be attractive to individuals and small businesses who have limited options for obtaining credit from traditional lenders, but it is important to note that their loans can come with high interest rates and fees. You can cover financial emergencies, but carefully review the terms of their loan before accepting any offers and ensure they can afford the monthly payments.

LoanMe is licensed and regulated by the California Department of Business Oversight and is accredited by the Better Business Bureau with an A+ rating. The company has also received mixed reviews from customers, with some praising the fast and easy application process and others expressing frustration with high interest rates and poor customer service.

LoanMe

Key Features

Here are some factors that may differentiate LoanMe from other lenders:

  1. Loan types. LoanMe offers personal loans and small business loans, which may differentiate it from other lenders that specialize in a specific type of loan.
  2. Loan amounts. LoanMe offers personal loans up to $100,000 and small business loans up to $250,000, which may be higher than some other lenders.
  3. Eligibility requirements. LoanMe considers applicants with lower credit scores, which may make it more accessible to borrowers who have been turned down by other lenders.
  4. Speed of funding. LoanMe advertises fast funding, with some loans funded as quickly as the same day, which may be faster than other lenders.
  5. Repayment terms. LoanMe offers repayment terms of up to 10 years for personal loans and small business loans, which may be longer than some other lenders.

Pros and Cons

Pros

  • A fast and simple process of receiving money. The application takes less than 5 minutes. The company usually approves the loan application within 4 hours and pays it within two business days from the date of approval. The same point can include the possibility of obtaining a loan with a low credit score.
  • 24/7 contact with specialists. Clients receive consultations with management by phone every day (during work hours, from 8 to 6). You can ask a question by email on all days of the week except weekends.
  • Easy-to-use mobile app and software. The mobile application and website contain the necessary data created for the successful receipt of business and personal loans. The experience is client-oriented because the developers have activated the design, and the provision is very convenient.
  • No penalties or commissions. On the platform, you can easily pay for a personal loan or business loan without waiting for the deadline at any time - for this. You will not receive fines and violations.
  • Pre-qualification without risk. At any moment, you have the right to try to apply, avoiding damage to your loan rating.

Cons

  • High interest rates. The biggest disadvantage when interacting with LoanMe is a huge amount of interest, because of which you will spend a lot of money. Undoubtedly, the company provides good service and many other wonderful services. But in return for using them, you will have to pay huge, sometimes sky-high, interest rates.
  • The company only works in some places. The platform issues loans in 30 states and for personal loans only in 9 states.
  • Additional expenses-commissions. Commission costs require additional, sometimes significant costs.

Products

You can get with a low credit score a personal loan in the loan amount of $600 to $100,000. To get a business loan, the minimum loan amount is $3,500, and the maximum loan amount is $250,000.

There also are temporary loans before the salary - they take a large commission instead of high interest.

  • Working capital loans. Loans for working capital are the most relevant. They are available in all states where LoanMe operates and uses monthly payments. These loan amounts are from $3,500 to $100,000 and come with APRs of 39% to 159% per annum, with an initial commission of 5%-10% for two to five years, depending on your capabilities.
  • Cash loans. Cash loans have a minimum loan amount of $4,500 and a maximum loan amount of $50,000. They require a commission of 20%-40% per annum and are for six months or an entire year. Works in all operational divisions of the company except New York.
  • California loans. And finally, the most difficult-to-access California loans for A-level entrepreneurs are issued from $50,000 to $2,500,000 of loan amounts for about a dozen years. For this offer, it is often necessary to familiarize yourself with this type of loan in more detail and get a full consultation from a specialist.

There are several other credits and financial services on the company's website. Therefore, you will definitely find something that suits your personal requests. The main thing is to carefully look at the requirements for each of the loans and, when choosing, check your compliance with these conditions.

Reliability

The reliability of a lender can depend on several factors, including its reputation, customer reviews, and regulatory compliance.

  • Reputation. LoanMe has a good reputation. It has been in business since 2012 and is accredited by the Better Business Bureau and Consumer Affairs. The Trustpilot reviews give the company 4.5 stars out of 5.
  • Customer service. LoanMe's customer service is good. You can test their customer service by calling their customer support line or emailing them with any questions or concerns.
  • Regulatory compliance. LoanMe is licensed and regulated by the relevant state and federal agencies. Check if LoanMe is properly licensed and authorized to offer loans in your state and whether they comply with applicable regulations, such as interest rate caps, disclosure requirements, and consumer protection laws.
  • Loan terms and fees. Evaluate LoanMe's loan terms, fees, and interest rates to ensure they are transparent, fair, and affordable. Review the loan agreement carefully and ask any questions you may have before signing.

While LoanMe may have a good reputation and be reliable for some borrowers, every individual's experience may vary. Borrowers should always do their own research and carefully evaluate their options before taking out a loan.

Funding a Loan

The company offers same-day funding. It will take only 1-2 days to get a loan. During this period of time, the company will review your application and make a final decision, which will result in either approval or rejection of the offer. If the application is approved, the company will send all the conditions for the payment of the loan and other information that is necessary for the client. If both sides agree with them, the money will be transferred to your specified bank account within 1-2 hours.

  1. Application. Borrowers can apply for a loan from LoanMe by filling out an online application or by calling LoanMe's customer support line. The application typically requires the borrower's personal and financial information, such as their name, address, income, and credit score.
  2. Loan approval. LoanMe will review the borrower's application and may perform a credit check to determine their eligibility for a loan. If approved, LoanMe will typically provide the borrower with a loan offer that includes the loan amount, interest rate, and repayment terms.
  3. Loan acceptance. If the borrower agrees to the loan offer, they will need to sign a loan agreement and provide any additional information or documentation requested by LoanMe, such as proof of income or identification.
  4. Loan funding. After the borrower accepts the loan offer and provides all necessary information, LoanMe will typically fund the loan within a few business days. The loan funds may be deposited directly into the borrower's bank account or provided in the form of a check or debit card.

Other Loans

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Speedy Cash

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Speedy Cash is a prominent financial institution catering to the urgent financial needs of residents in 27 states. With a diverse array of services, the company specializes in offering payday loans alongside various other types of loans. Whether customers require a small sum of $50 or seek more significant assistance with larger expenses, Speedy Cash is ready to address their financial requirements promptly with up to $1,500 payday loans. One of the key advantages of Speedy Cash is its remarkably swift turnaround time, with loan applications being processed and approved within just one day, ensuring that individuals can access the funds they need without unnecessary delays.Speedy Cash

Cash Store

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At the Cash Store, customers can now access installment loans up to $3000, providing them with a practical solution for financial needs. With a fixed APR personal loan product that spans from 390% APR up to 780% APR, individuals can secure the funds they require while knowing exactly what to expect in terms of interest rates. The rates may vary depending on the state, ensuring customers are presented with options tailored to their specific location.Cash Store

Ace Cash Express

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Ace Cash Express is a reputable financial services company that provides installment loans in several states, catering to individuals facing emergencies or unforeseen expenses. In Delaware, borrowers can access up to $2,000; in Florida, Missouri, and Texas, loan amounts range from $100 to $2,000. This flexible loan offering ensures that customers can obtain the necessary funds swiftly and conveniently. Whether it's a medical emergency, urgent car repairs, or any unexpected financial burden, Ace Cash Express aims to offer a reliable solution to its clients in times of need.Ace Cash Express

Check Into Cash

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Check Into Cash is a reputable financial service provider that offers Installment Loans. These loans allow individuals to borrow a certain amount of money, typically ranging from $50 to $5,000, depending on the laws of their state. The maximum loan amount varies from one state to another, ensuring compliance with local regulations. With Check Into Cash, borrowers can access the funds they need to cover unexpected expenses or manage financial challenges.Check Into Cash

Approved Cash

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Approved Cash is a trusted financial institution specializing in offering payday loans and cash advance services, catering to individuals needing immediate financial assistance. Whether you're facing unexpected expenses or find yourself short on funds, Approved Cash is here to provide the solution you need today. Applying for their loans is straightforward, ensuring quick access to the required funds.Approved Cash

Important

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. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

FAQ

Does LoanMe contact credit bureaus?

Yes. LoanMe offers installment loans and reports all your payments and interactions with the platform to the credit bureau. If you repay the loan on time, you have a great opportunity to improve your credit score. The main thing, in this case, is not to extend the loan term.

Is LoanMe a broker?

Yes, LoanMe is a proven, reliable financial broker and lender. Its partner is Capital Community Bank which assists in funding loans as a loan agent. And this status is approved by the BBB. LoanMe provides the funds directly to the borrower and handles the loan servicing, including collecting payments and managing the account. As a direct online lender, LoanMe does not work with other lenders or brokers to originate loans.

How do I repay my LoanMe loan?

The loan is repaid regularly in monthly payments with a fixed fee. In fact, everything is simple, and experts will calculate the amount that you agree to pay every month. You need to pay this amount without delay. As mentioned earlier, you may repay the loan early, and for this, you will not need to pay fines and additional interest.

How do I apply for a loan?

In order to apply, you need to go to the official LoanMe website of the platform and choose the right service that will suit all your requirements for getting a personal loan and business loan. After that, you will fill out a small questionnaire with personal data and additional information with preferences about the loan. When you submit your application, if everything is done correctly, in a couple of hours, you will receive a notification with a step-by-step plan for further actions.

Are LoanMe and CashCall the same company?

LoanMe and CashCall were both owned by the same parent company, WS Funding LLC. However, they operate as separate brands and have slightly different loan products and terms. LoanMe offers personal loans, while CashCall offers personal loans and mortgage loans. Additionally, LoanMe offers loan amounts up to $100,000, while CashCall offers loan amounts up to $10,600.

Company documents

Licensing and Disclosures
Privacy Policy
Terms of Use
Offers
LoanMe
California loan for A-level entrepreneurs
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$50,000 - $2,500,000
Term
i

Loan term for the financial product

up to 12 years
Apply
LoanMe
Cash Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$4,500 - $50,000
Rate
i

Interest rate

20% - 40% APR
Term
i

Loan term for the financial product

up to 12 months
LoanMe
Loan for working capital
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$3,500 - $100,000
Rate
i

Interest rate

39% - 159%
LoanMe
Personal Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$600 - $100,000
LoanMe
Business Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$3,500 - $250,000
Similars products
Finanso
Personal Loans
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
2000.00 – 100000.00 $
Rate
i

Interest rate

6.34 – 35.89 %
Term
i

Loan term for the financial product

2 months – 5 years
Apply
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
Rating by Finanso®
i

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.

3.93
(20 Ratings)
Recommended FinScore™
0
300
650
1000
450.00 – 12000.00 $
Rate
i

Interest rate

27.50 – 81.29 %
Term
i

Loan term for the financial product

6 months – 3 years
Apply
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
up to $5,000,000
Rate
i

Interest rate

correlated with the current market rate
Term
i

Loan term for the financial product

up to 20 years
Nuula
Business loans
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
$5,000-$2,000,000
Term
i

Loan term for the financial product

up to 36 months
Calculate loan payments at LoanMe

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

LoanMe calculator
Interest rates are given in accordance with the rates of the LoanMe of 07.02.2025
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