Getting a Loan With LendUp

Originally an American direct lender, LendUp began offering payday and installment loans online. It assessed the creditworthiness of customers using publicly available information.

Loan amounts

Putting a dollar price on your credit card and getting a loan from the likes of LendUp is not a bad idea. They have a no frills approach to lending that’s surprisingly customer friendly. Payday loans in Minnesota (MS) For a nominal fee they’ll put cash in your pocket within a day. As long as you’re willing to put in a little extra time to be patient, you’re on your way to good ol’ fashioned bankroll happy. They’ll let you borrow up to $255 for the single payoff loans, with the requisite paperwork in tow. The company reportedly has a staff of fewer than 50 and boasts a customer satisfaction rate of 97.2%, as of July 2018. Considering the competition in the short term, it’s a good idea to get a loan with LendUp.

Requirements for getting a loan

Getting a loan with Lenduo involves an application that is relatively quick and easy. Applicants are asked for basic business information and credit history. They may also be asked to provide collateral. Then, they are connected with lenders who can offer financing.

Lendio offers a variety of loan types and rates. Customers are assigned a personal funding manager who will make recommendations and bring loan offers to the customer. The customer is then responsible for making repayments along with interest. The repayment period varies with each type of loan.

Customers have reported a high level of customer service. They can contact Lendio through their website, email, and social media. Applicants can also speak to a live representative on the phone. They can also use loan calculators to determine the best loan.

Customer service

Getting a loan through Lendio is much faster than the traditional method of going to a bank or credit union. With Lendio, you are assigned a personal funding manager who will lead you through your loan options. The financing manager will help you to understand the loans you qualify for and what the terms and conditions are. You will also receive offers from lenders within 72 hours. During the application process, Lendio will perform a soft credit pull. This will not affect your credit score, but it will allow them to shop your information to several lenders.

Lendio has an A+ rating from the Better Business Bureau, which is a great sign. However, Lendio has also been criticized for requiring too much documentation, making too many hard credit inquiries, and pairing customers with lenders who were not a good match. There are also complaints about delays in approving loans.