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LoanMe
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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

LoanMe

ConsumerAffairs Accredited Brand

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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LoanMe
Call toll free
(844) 725-7868

LoanMe Reviews

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1 featured review
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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!

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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!

2 people found this review helpful
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Dec. 28, 2018

I have an almost perfect payment record except for some very old payments about to drop off of my credit report. LoanMe seemed to take a deeper look at my situation and worked out a loan I'm able to use as a bridge to paying off some very high interest debt from Rise Credit (just say no to them). My LoanMe representative was courteous, knowledgeable and efficient.

LoanMe response

Thanks for the awesome review, Donald! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you.

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Rated with 1 star
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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.

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Rated with 1 star
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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.

10 people found this review helpful
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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

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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.

2 people found this review helpful
Rated with 1 star
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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.

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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.

4 people found this review helpful
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LoanMe expert review by Barbara Friedberg

LoanMe offers unsecured installment loans to consumers and businesses. The company's primary focus is to provide personal or small business lending solutions. The company offers loans from $2,600 to $100,000 for purposes such as debt consolidation or costs associated with starting a new business. LoanMe streamlines the loan application process, making it easier for consumers.

  • Loan range: LoanMe offers personal loans ranging from $2,600-$100,000. This wide range gives consumers several options to choose a loan amount that meets their needs, even if they do not own a home.

  • Direct deposit: With application approval, consumers can receive their loan funds via direct deposit into a checking account.

  • Automatic payment withdrawals: LoanMe automates the loan repayment process, withdrawing loan payments from the borrower's bank account based on an agreed-upon repayment schedule.

  • Three ways to apply for a loan: Applicants can call the company toll-free to begin the loan application process with a live agent, complete the process online or use the company's website to request a callback from a live agent.

  • Best for: LoanMe's services are best for anyone looking for an unsecured personal consumer loan, individual's ineligible for typical bank or credit union loans and those facing financial hardship.

Profile picture of Barbara Friedberg
Barbara Friedberg Personal Finance Contributing Editor

Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

LoanMe questions and answers

What are the most common misconception consumers have about your industry?
Lack of transparency. LoanMe does its best to make the terms of the loan clear for customers before they decide to take a loan.
What is the greatest obstacle LoanMe is currently trying to overcome?
A number of sites online display primarily negative reviews on our products and service. This, however, does not reflect the voice of all our customers. A great majority of our customers are happy with our service and we would like to change the conversations online to show this.
How has your industry changed in the last 5 to 10 years?
In the past several years, it has been getting more and more difficult for the public to qualify for personal loans through traditional banks and other lenders. LoanMe is trying to fill the gap by helping customers who cannot find help through such traditional mediums.
How has LoanMe grown or evolved?
LoanMe has experience steady growth since 2013.
How do you see the company growing or evolving in the future?
LoanMe is focusing a lot on growing its Prime and commercial loans. LoanMe’s goal is to offer its products to a broader range of credit holders.
Where do great ideas come from in your organization?
Great ideas come from customer feedback.
What problem is LoanMe trying to solve?
The goal is to protect a good public image for LoanMe’s young brand.
What sets LoanMe apart from the competition?
LoanMe has easily accessible loans for those with good credit and less than perfect credit, fast cash (cash in as fast as 3-4 hours) and low monthly payments.
What needs do your products or services fulfill, and how do you fulfill those needs better than your competition?
Our quick loans serve customers who need cash fast. Funds may be deposited directly in as fast as 3 – 4 hours.
What are the most common misconception consumers have about LoanMe?
Customers do not have to wait the full term of the loan to pay it off. Customers are able to pay off the loan at any time they like with no pre-payment penalties.
What are your company values?
LoanMe has a responsibility to its customers to be open and honest, to treat customers fairly, and to be safe and secure. These principles affect everything the LoanMe is involved in, including the way it lends money.

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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