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Costs
Set-up costs up to 8%
Regular Annual Percentage Rate (APR)
up to 29.99% APR, no interest on principal if repaid within six months
Costs
Set-up costs up to 8%
Regular Annual Percentage Rate (APR)
up to 29.99% APR, no interest on principal if repaid within six months
Details
Regular Annual Percentage Rate (APR)
up to 29.99% APR, no interest on principal if repaid within six months
Costs
Set-up costs up to 8%
Advantages and disadvantages
Strong points
Further reading
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
Editor’s note
Regular Annual Percentage Rate (APR)
up to 29.99% APR, no interest on principal if repaid within six months
Editor’s note
Regular Annual Percentage Rate (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
Regular Annual Percentage Rate (APR)
6.50% to 35.99%
Set-up fee up to 8%, late fee 5% or $15, whichever is greater
Both LibertyPlus and Reached 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 a A+ rating organisation. 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.
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