LoanMe offers personal loans, but those loans are actually issued by Lead Bank, which is a partner of LoanMe. Together, they provide personal loans of $1,000 - $30,000 with an APR range of 9% - 98% and repayment periods of 12 - 84 months.
Your LoanMe approval odds are good if you have a low debt-to-income ratio and meet LoanMe’s requirements to get a loan. Some requirements include being at least 18 years old, having enough income to make monthly payments and having at least bad credit. If you meet all the requirements, your approval odds are high, but approval is never guaranteed. … read full answer
What You Need for Good LoanMe Approval Odds
Credit Score Requirement: Not disclosed, but does consider bad credit
Identification: SSN or ITIN
Bank Account: Verifiable bank account
Residency: One of the 21 states where LoanMe operates
Citizenship: U.S. citizen, permanent resident or immigration visa holder
Before applying for any personal loan, it’s a good idea to check to see if you pre-qualify in order to estimate your approval odds. You can use WalletHub’s free pre-qualification tool to check with multiple lenders at once.
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 between 585 and 700.… read full answer
Keep in mind that LoanMe will look at more than just your credit score when evaluating your application for a personal loan. LoanMe will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a LoanMe personal loan online to gauge your chances of getting approved with your current credit score.
It takes 1 to 2 business days to get money from a LoanMe personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer
How to Get Money From LoanMe as Fast as Possible
Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from LoanMe having to request additional information.
Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
Apply online. Online applications have the fastest processing times since they are automated and streamlined.
Once you get approved for a LoanMe personal loan, the money will be delivered through an electronic funds transfer to your bank account.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.