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LoanMe
Call toll free
(844) 725-7868
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LoanMe

LoanMe
Call toll free
(844) 725-7868
Overall Satisfaction Rating 4.45/5
  • 5 stars
    379
  • 4 stars
    73
  • 3 stars
    22
  • 2 stars
    8
  • 1 stars
    36
Based on 518 ratings submitted in the last year
SHOW RATING DISTRIBUTION

Founded in 2013, LoanMe authorizes personal loans from $2,600 to $100,000. The process is fast and easy and it's even possible to have money deposited into your checking account in as fast as 3-4 hours! With fixed monthly payments and no pre-payment penalties, LoanMe is your go-to personal lender for whatever life throws at you.

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BOTTOM LINE

LoanMe is an online small business and personal loan provider that offers loans from $600 to $250,000. LoanMe has a quick online application and no credit score requirements.

PROS

  • Receive funds within a day
  • Apply online in less than 5 minutes
  • Small business or personal loans

CONS

  • High APRs

Top LoanMe Reviews

Rated with 5 stars
Verified Reviewer Verified Buyer

[LoanMe was] very efficient and the whole process was stress free. The fact that everything can be done online is what I love most. I will definitely recommend a friend. I was financially trapped and [they] bailed me out.

Read full review
Rated with 5 stars
Verified Reviewer Verified Buyer

If you want emergency cash, LoanMe is the answer. Their loan processing is simply amazing, fast and simple. Once approved your money will be deposited to your account in no time. LoanMe [is] the best, that is why I keep coming back to [them].

Read full review

How does LoanMe work?

LoanMe offers two types of loans: personal loans and small business loans. Personal loan amounts range from $600 to $100,000, and small business loan amounts range from $3,500 to $250,000.

Start by filling out LoanMe’s online loan application. You can apply online 24/7, and the application takes less than five minutes to complete. To prequalify, you need to have certain information, including your:

  • Bank statement
  • Proof of income
  • Confirmation that you are 18 years or older

Filling out LoanMe’s loan application doesn’t affect your credit score, and you receive an instant loan decision. Once you qualify, LoanMe shows you the available loan options — the company outlines all costs and charges no hidden fees. Choose your preferred loan program, and LoanMe wires your funds in as little as one day.

LoanMe reports to all three major credit bureaus, which helps you rebuild your credit if you consistently make on-time payments. It’s important to note that LoanMe isn’t available everywhere. Currently, the company offers small business loans in 30 states and personal loans in nine states.

What are LoanMe requirements?

LoanMe has different requirements for each of its loan programs. To qualify for either a small business loan or a personal loan with LoanMe, you need to meet the following criteria:

  • Business loan requirements:
    • At least 21 years old
    • 90 days in business with income
    • For-profit business status
    • Business bank account under the company's name
    • Personal credit of 500 or above
    • Voided check
  • Personal loan requirements:
    • At least 18 years old
    • A checking account
    • Online banking capabilities
    • Valid identification
    • Proof of income (recent pay stub)
    • Voided check

How much do LoanMe loans cost?

LoanMe charges an origination fee on all of its loan transactions. The fee is usually 5% to 10% of your loan’s total. The company has no prepayment fees, so you can pay back your loan in full without incurring any extra costs. Loan terms can be as long as ten years or as short as two years.

Rates and annual percentage rates (APRs) vary depending on the applicant’s overall creditworthiness but typically range from 13% to 98%. LoanMe promises its lowest rates to customers with excellent credit (750 or higher). LoanMe considers applicants with all credit histories, but not all applicants are promised qualification.

Is LoanMe worth it?

LoanMe provides personal and small business loans at low interest rates to customers with varying credit histories. The company has a quick application process and does not charge fees for paying off your loan early. LoanMe puts no restrictions on how you use your funds and is a viable option for people or businesses seeking fast cash.

LoanMe Reviews

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1 featured review
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Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: Nov. 13, 2019

I was shopping for loans to pay off credit cards and this company somehow got my information. I told them that I was not interested in a high interest rate loan and to please stop calling me. Till this day they still call me. It takes an idiot to pay their fees and interest.

5 people found this review helpful

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    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Oct. 19, 2019

    Received an offer letter for a loan from 2600 to 100,000 as low as 9.9% APR. Applied online, they offered me a 2600 loan at 47 monthly payments of $297. That totals OVER $13,000 for a $2,600 loan!!!! Do you take people for fools? That's about 3000% APR. BEYOND PREDATORY. STAY AWAY FROM THIS PLACE AT ALL COSTS!!! They will rip you off.

    24 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 27, 2019

    Do not use this company ever. I took out a 2600 loan with them. They will then give you 2525 and keep 75 for origination. I have paid them 1600 and as of to date I owe them 3300 on a 2525 loan after paying them 1600. This is ridiculous. This is a beyond predatory loan. If you cannot pay it all back within a month do not go to them. They never send bills or statements or anything. Do no use. Predatory!!!

    LoanMe response

    Good morning N. Kaylor,

    Thank you for taking the time to post a review. You are correct that there is an origination fee associated with our loans. Upon consummation of your loan, you were provided with a loan payment schedule which informs you of your required monthly payment amounts. Additionally, you have the ability to log into your LoanMe account to view the details of your loan and make payments. We always encourage our customers to pay off their loans as quickly as possible to pay the least amount of interest.

    Thank you

    2 people found this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: Sept. 26, 2019

    Application, approval, money transfer all seamless. I have now been paying on this loan for 4 years and have only paid it down by $5500 at $340/mo with an extra $110/mo to be applied straight to principal. At least that is how it is supposed to work. If I plug my loan terms into an amortization calendar, it should be that as the loan amount goes down, more of my payment is applied towards principal and less toward interest. Add to that, the additional payment I am making every month, and my principal should be dropping much more quickly. When I look at their amortization schedule sometimes my principal is 50% of my payment and sometimes it's 30 or 40%. I don't understand it. When you call and ask for information they give you the run-around. I am stuck with this loan for now because I don't have any other options at the moment. As soon as humanly possible however, I will be paying this off. Caveat Emptor.

    5 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Sept. 21, 2019

    LoanMe helped me when I needed money. They are fast. I got 3100. That's the loan amount. And they are charging approx 11$ every day. I will never recommend this. So to those who will loan money from LoanMe should be ready to be ripped off. Like after paying 5 times already at 351 a month my balance is still 3092. Dont loan from this company.

    LoanMe response

    Hi Anna,

    We appreciate you taking the time to post a review and apologize if your experience was less than favorable. Loan terms vary by customer and are determined by multiple factors. However, our agents always stress the importance of paying off the loan early to avoid paying the high interest. Your comments will be heard to assist us in maintaining the high standard we strive to achieve with every customer. If you’d like to address any concerns direct, you can contact our Customer Support Specialist at feedback@loanme.com

    Thank you

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    Rated with 3 stars
    Verified Reviewer
    Original review: Aug. 8, 2019

    BEWARE of LOANME!! I needed a $2700 personal loan asap and came to LoanMe as a last resort. My transaction with them went smooth and the agent that helped me out was pretty awesome. We basically calculated how much interest would be per day. In my case $11 A DAY!!! I paid it off within 1 week. DO NOT TAKE OUT A LOAN from LoanMe unless you can pay it back within 2 weeks max. SHARK LOAN!!!!

    LoanMe response

    Thank you for taking the time to post your review as well as your comments regarding the terms of your loan. We always encourage our customers to pay off their loans as quickly as possible to pay the least amount of interest.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 7, 2019

    I wish I never worked with this company called LoanMe. They are a horrible company. I received a loan from them and was paying them back. I ran into some financial issues so they assigned my account over this is 3rd party company. I started receiving harassing calls from them. There was this one person by the name of Nikki * who left the need to reach out to everyone that I knew and informed them that they were looking for me so that they can arrest me. WHAT THE HELL!! Why wouldn't they just reach out to me and speak with me. Why do they feel the need to reach out to everyone that I know to let them know something like that. If you find yourself in a bind PLEASE DO NOT REACH OUT TO THESE PEOPLE, THEY WILL ** YOU OVER!

    LoanMe response

    Thank you for taking the time to post a review. We apologize if our service did not meet your expectations. We strive to achieve high standards with every customer. Your comments will be heard to maintain the high standards.

    6 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: April 17, 2019

    I originally took out a loan for less than $6,000. I unfortunately defaulted on the loan due to medical reasons. Even though I tried to explain my situation and continued to make partial payments. Now my account has been turned over to a collection agency and the amount owing is $21,085! They stated that the loan is still accusing interest. DO NOT BORROW FROM HERE!!!

    LoanMe response

    Thank you for taking the time to post your review. We apologize if our service did not meet your expectations. We are actively working to improve service levels to better meet our customer's needs. We strive to provide the high standards of service for every customer.

    11 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 28, 2018

    If you want emergency cash, LoanMe is the answer. Their loan processing is simply amazing, fast and simple. Once approved your money will be deposited to your account in no time. LoanMe you are the best, that is why I keep coming back to you. Thank you for your help.

    LoanMe response

    Thanks so much for being a repeat customer!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 28, 2018

    You guys are very efficient and the whole process was stress free. The fact that everything can be done online is what I love most. I will definitely recommend a friend. I was financially trapped and you bailed me out.

    LoanMe response

    We are glad to hear that you have had such a pleasant lending experience working with LoanMe. Thanks for your business!

    3 people found this review helpful
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    LoanMe Company Information

    Social media:
    Company Name:
    LoanMe
    Year Founded:
    2013
    Address:
    1900 S. State College Blvd., Ste 300
    City:
    Anaheim
    State/Province:
    CA
    Postal Code:
    92806
    Country:
    United States
    Phone:
    8449562663
    Website:
    www.loanme.com

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