LendingUSA was founded in 2015 to be a lending solution for traders. LendingUSA provides on-site customer financing through more than 10,000 business partners in a variety of fields, including medical services, pet services, funeral services and consumer services.
- Pre-approval for a LendingUSA loan will not affect your credit score.
- In some cases, borrowers who can repay their loan within six months can avoid paying any interest.
- There are no prepayment penalties.
- Borrowers pay a commission of up to 8% of the loan.
- LendingUSA does not offer loans to borrowers in any US territory or in Colorado, Connecticut, Iowa, Maryland, North Dakota, New Hampshire, Nevada, New York, Vermont or Vermont.
LendingUSA offers financing to consumers to give them extra time to pay for certain services related to health care, funeral expenses, pet care and other purchases. Loan options are offered by the merchant at the time of sale.
Apply for LendingUSA loans online, usually at your service provider’s website. The first step is to see if you have pre-approved the loan and check the interest rate. In a few minutes, you will make a decision. If you go ahead and complete the complete application, then there will be hard credit.
From there, the loan goes through the sponsorship process, which usually takes three to five working days. Once the loan is approved, you will have 30 days to make your first payment.
LendingUSA offers loans for medical services (audiology, chiropractic, cosmetic surgery, dentistry, dermatology, general health care, vision, medical devices and weight loss). funeral services; pet services (veterinary and pet retail); and consumer services.
- Medical loan loans range from $ 1,000 to $ 47,500, but some industries have lower ceilings.
- Funeral loan loans range from $ 1,000 to $ 10,000.
- Pet service loans range from $ 1,000 to $ 12,000.
- Consumer loans range from $ 1,000 to $ 47,500.
LendingUSA loans range from a minimum of $ 1,000 to a maximum of $ 47,500, with some industries exceeding the maximum in lower amounts. Loan terms and interest rates also vary depending on the purpose of the loan and the borrower’s creditworthiness. LendingUSA does not disclose specific information about rates and deadlines.
There is a commission of up to 8% of the loan principal amount, and this can lead to an annual rate of up to 29.99%.
While LendingUSA does not disclose information about late charges or penalties, the lender encourages borrowers to contact us to resolve any issues that may arise.
How can you qualify for one
To be eligible for LendingUSA funding, you must be at least 18 years old with a Social Security number and reside in a state where LendingUSA operates. On the sponsorship side, you will be subjected to a credit check to determine your credit history, income and ability to repay the loan.
LendingUSA does not disclose specific loan qualifications or minimum requirements, but some applicants may be rejected due to low credit rating, insufficient income or other financial factors.
LendingUSA does not disclose the minimum credit score or other credit requirements for approval.
LendingUSA operates in all but the following states: Colorado, Connecticut, Iowa, Maryland, North Dakota, New Hampshire, Nevada, New York, Vermont and West Virginia. It also does not lend to any US territory.
LendingUSA has an A + rating with the Better Business Bureau and is a company accredited by the BBB. LendingUSA has a rating of 4.6 out of 5 stars on Trustpilot. In 2020, the Office of Consumer Financial Protection received 13 complaints about LendingUSA’s personal loans, most of them for payment problems and the repayment process. LendingUSA responded to all 13 complaints in a timely manner and closed each with an explanation.
How is LendingUSA customer service?
You can contact LendingUSA customer service at 800-994-6177 or via email. Opening hours are 6 p.m. until 6 p.m. Pacific Time from Monday to Friday and 9 a.m. until 6 p.m. PT Saturday and Sunday. No chat or text option available.
What are some of LendingUSA online features?
The whole process of pre-approval and loan application is done electronically. Once the account is opened, customers can log in to manage their payments, set up automatic payment and check their payment history.
- People who need extra time to pay for a particular service.
- People who want steady monthly payments.
- People who can repay a purchase in six months or less to avoid interest.