LendYou

LendYou Overview

LendYou is a popular and secure online lending platform for borrowers in need of fast cash. They offer loans for borrowers with all types of credit and have a high approval rate.

LendYou is a referral service instead of a direct lender. Our LendYou review will help you decide whether this site is the right lender for you.

LendYou Pros

• Quick application and approval.
• All credit types -- even bad credit -- are considered.
• Lenders available from all states where short-term/payday loans are legal.
• Wide range of loan amounts, rates, and terms.
• No collateral required.
• Minimal restrictions on the use of your loan funds**.**

LendYou Cons

• LendYou is not a direct lender (they do not make approval decisions directly).

**How Does LendYou Work? **

LendYou does not offer loans directly. Instead, it works by matching borrowers with potential lenders.

When you go to LendYou’s website to apply for a loan, you’ll provide some information about yourself and the loan you want. This includes things like how much you want to borrow, and some estimates of your credit score and income.

LendYou takes the info you provide and matches you with some of its partner lenders. It tries to match you with lenders that tend to work with borrowers that fit your financial profile, giving you the best chance of getting approved for a loan.

Once you review your offers, you can select a lender and complete the application process with that lender. If you don’t like any of the offers you receive, there’s no obligation to get a loan.

Products Offered

LendYou helps connect borrowers with lenders that offer three types of loans:

• Payday loans
• Installment loans
• Personal loans

However, the site’s specialty lies in payday loans. These are short-term loans that you can get very quickly. That makes them appealing to people who need cash quickly. However, they tend to have incredibly high interest rates and fees, making them costly.

Payday Loans

• Amount: $100 - $1,000
• APR: Varies by lender

Installment Loans

• Amount: $1,000 - $5,000
• APR: Varies by lender

Personal Loans

• Amount: $5,000 - $35,000
• APR: Varies by lender

How to Qualify for a LendYou Payday Loan?

LendYou isn’t a direct lender. That means that it isn’t the one making lending decisions after you apply. Instead, LendYou sends your information to its partners who ultimately make the decision whether to offer a loan to you.

That means that LendYou doesn’t publish things such as a minimum credit score to qualify.

Like any loan application, there are a few things you can do to boost your chances of qualifying for a loan through LendYou.

First, the better your credit score, the better your chances of qualifying for a loan and the lower the interest rate on your loans will tend to be.

Lenders will also look at your income and your debt. The less you owe and the more you make, the better your chances. LendYou does note that applicants must have a minimum monthly income of $1,000 to qualify.

Application Process

Applying for a loan through LendYou is quick and simple. You only have to spend a few minutes filling out a single application to be connected with multiple lenders.

To apply, follow these steps:

HOW TO SUBMIT A LOAN APPLICATION

• Go to LendYou's website.
• Select the type of loan you are looking for (cash advance loan, installment loan, or personal loan)
• Enter the last four digits of your Social Security number, your email address, zip code, and year of birth.
• Click on Terms & Conditions of Use to read the conditions before signing up.
• Click on Get Started to complete the application.
• You will need to fill out the required information before submitting the form:  
  • Name  
  • Date of birth  
  • Social Security number  
  • Driver's license number  
  • Employment information  
  • How much you earn and when you are paid  
  • Contact information such as your address, phone number, and email address  
  • Bank account information
• Submit the form to get a decision in minutes.
• Matched lenders may authorize a credit check to verify your credit and identity.
• The time in which it takes to receive funding depends on your lenders. However, many borrowers receive their funds as soon as the next business day.

Terms & Requirements

To be eligible for a loan from LendYou, you must meet these requirements:

• Be a US citizen or permanent resident
• Be at least 18 years of age or the minimum age requirement for your state
• Have a minimum regular income of $1,000
• Have a valid checking or savings account with a direct deposit
• Not be a regular or reserve member of the Army, Marine Corps, Navy, Air Force, or Coast Guard, or be a dependent of one
• Note: Short-term or small-dollar loans are not available in some states, including Arkansas, New York, Vermont, West Virginia

LendYou Pricing

• LendYou is an entirely free service. However, they receive a commission from the lending service once they have connected you to a lender.
• Maximum loan amounts available through the LendYou platform:   * Installment loans: Up to $5,000   * Payday loans: $100 to $1,000   * Personal loans: Up to $35,000
• APRs vary by lender

**For Whom is LendYou Good? **

LendYou primarily focuses on payday loans, which means it caters to borrowers who need small amounts of money quickly.

Payday loans, like their names imply, are intended to help you make ends meet until you get your next paycheck, at which point you repay the loan. LendYou offers payday loans up to $1,000, so the site is mostly useful for people with needs smaller than $1,000.

The site also targets consumers who may not have great credit. The only explicit requirement is a monthly income of $1,000 or more. That means that the people who will most likely want to work with LendYou are people with poor credit and who need to borrow $1,000 or less.

However, keep in mind that payday loans can be very costly and it’s easy to get stuck in a cycle of debt when you use them.

**LendYou Payday Loans Alternatives **

LendYou is far from the only payday lender out there. There are many websites that try to match customers with lenders that offer short-term loans for small amounts.

If you’re trying to get a payday loan, consider these alternatives.

MoneyMutual

Maximum Loan: $2,500 APRs: Varies by lender Features: Get matched to lenders that work with borrowers like you, Quick application

ClearViewLoans

Maximum Loan: $5,000 APRs: Varies by lender Features: Get matched to lenders that work with borrowers like you, Large loan maximum

Summary

Payday loans are a highly expensive way to borrow money, but there are situations where you find yourself in need of a quick loan. If you need cash fast and have had trouble finding a lender, LendYou can match you with many lenders that might be willing to give you a loan.

Contact LendYou

Phone: 888-775-0859 Address: 1125 E Broadway #545 Glendale, CA 91205