No, LoanMe does not approve everyone. To qualify for a LoanMe personal loan, you need to be at least 18 years old, have at least bad credit and have enough income to make the monthly payments, among other requirements. Even if you meet all the requirements, you still may not get approved.
LoanMe Personal Loan Requirements
Age Requirement: 18+
Credit Score Requirement: Bad credit
Income Requirement: 24000/ per year
Citizenship Requirement: U.S. citizen, permanent resident or immigration visa holder
Bank Account Requirement: Verifiable bank account
Identification Requirement: SSN or ITIN plus a valid ID
Residency Requirement: Livein one of the 21 states where LoanMe operates
LoanMe does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified LoanMe credit score requirement, LoanMe will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range from at least 585 to 700.
Keep in mind that LoanMe will look at more than just your credit score when evaluating your application...
You can get LoanMe personal loan pre-approval through WalletHub’s free personal loan pre-approval tool. This will allow you to see your odds of approval for a personal loan with LoanMe, as well as your potential interest rates, and the process will have no impact on your credit score.
To apply for a LoanMe personal loan, first check for pre-qualification and decide which way you will apply (online or by phone), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for a LoanMe Personal Loan
Check for pre-qualification.Pre-qualification is a way to check your approval odds and potential rates before...
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