LendUp allows customers to extend their loans. If you cannot make a payment, you can extend the duration of your loan. You have until noon on the business day before your payment is due to extend your loan. You can extend the term to the maximum lengths allowed by your state.
When you apply for a LendUp loan, you can receive your money quickly. The application is online, and you will know if you qualify instantly. If you are eligible, the funds will transfer into your account the next business day.
To apply for a loan with LendUp, you must have a valid checking account. This account must be able to accept electronic transfers. You cannot link a savings account for this lending company. Prepaid debit cards will not work either.
If you apply for another loan with LendUp, you must provide a different checking account. You cannot use the same checking account that is being used for another LendUp customer. You cannot use the same contact information as another LendUp customer.
Qualifications to Apply for LendUp Loans
Useful Information About LendUp Loans
Good credit is not required to apply for a LendUp loan. Anyone is welcome to apply for the loan. Approval is in minutes.
After you pay off one LendUp loan, you cannot reapply for another loan immediately. You must wait four business days before you can apply for another loan.
Some states licensed to offer LendUp loans offer installment loans. These interest rates are much lower than their payday loan interest rates. The rates are higher than other personal loan interest rates. You must meet the qualifications to receive these installment loans.
LendUp loans are not available in all states. They currently offer loans to those living in:
Other states have offered LendUp loans in the past. They are currently only offering loans in these states listed. Other states may provide LendUp loans in the future.
LendUp may charge a loan fee. This fee can be up to 25 percent of the amount you want to borrow. The fee and fee amount may depend on the state where you live.
LendUp started in 2012. Since then, LendUp has issued over four million loans. These loan amounts total over $1 billion.
Along with loans, LendUp offers financial courses for customers. These courses help people understand finances and how to better their credit. Customers have completed more than 1.6 million financial courses.
LendUp offers the LendUp Ladder, which rewards responsible borrowing customers. Customers earn points by paying their loans off on time. They also earn points by taking part in LendUp's financial education courses.
By earning points, you move up the ladder. This allows you the right to apply for larger loan amounts with lower interest rates. You may also be able to apply for an installment loan to help you rebuild your credit score. The reward system varies depending on the state where you live. The LendUp ladder is not available in South Carolina.
LendUp was named "Top 10 Most Innovative Companies in Finance" by Fast Company in 2018. And in 2017, they were named a "Financial Health Leader" by the Center for Financial Services Innovation. LendUp headquarters are in Oakland, California.
Yes. The application process is entirely online. You can know if you qualify instantly after applying.
The minimum score could depend on other factors including, debt, income, and credit history.
The minimum loan amount depends on the state where you live. Some states offer loans as little as $100.
The largest loan amount depends on where you live. Some states offer loans up to $500. You may qualify for an installment loan up to $1,000. This depends on the state and your qualifications.
The term lengths range from 7-30 days. The term length may depend on LendUp.
The interest rates for LendUp are high. They are a payday loan company. Their interest rates are higher than other online personal lending companies.
LendUp does not specify whether their loans offer fixed interest rates.
? LendUp offers single-payment loans, payday loans, and installment loans. The available loans depend on the state where you live. You must meet qualifications to receive some LendUp loans.
LendUp requires a valid address, email, SSN, and checking account information. You may need to verify your income and credit history.
LendUp can approve your loan instantly.
The money from LendUp transfers into your account the next business day.
If LendUp denies your loan, you cannot reapply until they send you an email. There is not a set amount of time required. LendUp will let you know when you are eligible to apply.
You must link a valid checking account to apply for a LendUp loan. Prepaid debit cards and savings accounts do not qualify. The repayment is then withdrawn from your checking account. You can also pay through MoneyGram or checks. Your account continues to accrue interest until the check processes.
Yes. There are no fees for paying your loan off early.
LendUp security features comply with federal laws. Their computers, files, and buildings are secure, with safeguards in place.
The LendUp website does not list a mobile app. You can access your information online through their website.
Through mail, email, or phone. You can follow LendUp on Facebook, Instagram, Twitter, and YouTube.