LendingUSA personal loans: 2022 balance sheet, rates

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LendingUSA Personal Loans

Costs

Set-up costs up to 8%

APR

up to 29.99% APR, no interest on principal if repaid within six months

LendingUSA LendingUSA Personal Loan

Costs

Set-up costs up to 8%

APR

up to 29.99% APR, no interest on principal if repaid within six months

APR

up to 29.99% APR, no interest on principal if repaid within six months

Costs

Set-up costs up to 8%

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Advantages and Disadvantages of LendingUSA Personal Loans

Compare personal loan rates

LendingUSA is best for borrowers who have the ability to repay their loans quickly. The lender has a unique advantage that allows you to pay no interest on the principal if you repay it within six months. Most other lenders will charge you interest on your loan no matter how quickly you pay it off.

On the other hand, borrowers who want to avoid losing some of their money to fees may seek to avoid the company. LendingUSA charges up to an 8% origination fee, which will take a portion of your overall loan proceeds.

LendingUSA Personal Loan Comparison

How LendingUSA Compares

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Editor’s note

3/5
A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

Regular APR

up to 29.99% APR, no interest on principal if repaid within six months

Editor’s note

3.5/5
A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star

Regular APR

7.99% to 29.99% APR

Set-up fee of 0.00% to 4.99%, late fee of $15 or 5%, whichever is greater

Editor’s note

3.25/5
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Regular APR

5.60% to 35.99%

Set-up fee up to 8%, late fee 5% or $15, whichever is greater

FreedomPlus and Upstart allow borrowers with poor credit to be approved. While both of these lenders have clearly defined minimum credit scores for applying for a loan, LendingUSA is more vague about the requirements.

All three companies charge an assembly fee. Personal loans from Upstart and LendingUSA can have origination fees of up to 8%, while origination fees on FreedomPlus loans range from zero to 4.99%.

Frequently Asked Questions

LendingUSA is a Better Business Bureau accredited company with an A+ rating from the organization. The BBB is a nonprofit organization focused on consumer protection and trust, measuring a company by its response to customer complaints, honesty in advertising, and transparency in business practices.

LendingUSA has had no controversies over the past few years. Between its spotlessly clean history and sparkling BBB rating, you might feel comfortable borrowing from the lender. Just be sure to ask other borrowers who have used the company before about their experience with the lender before signing on the dotted line.

LendingUSA will verify your rate in minutes and receive a pre-approval decision in seconds. It is not known how long it will take you to receive your money.

LendingUSA does not list a minimum credit score to qualify for its loans. But the better your credit score, the more likely you are to get a loan. A higher credit score is also more likely to get you a lower rate.

About Judith J. George

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