LendYou Review

8.8 Total Score
4 reviews
LendYou Review

LendYou provides cash advance loans, installment loans & personal loans online. You can borrow anywhere from $100 to $15,000, making it a versatile option for most people. Whether you need a new car, a personal loan for urgent bills or even if you're looking for a way to rebuild your credit score, LendYou is the ideal place to be.

9.3Editor's score
Fees & Rates
9.1
Time Required for Approval & Funding
9.3
Support Staff
9
Requirements & Ease of Approval
9.6
8.3User's score
Fees & Rates
8
Time Required for Approval & Funding
9.7
Support Staff
7.5
Requirements & Ease of Approval
8.2
PROS
  • Fast delivery of funds
  • Bad credit scores approved
  • Simple eligibility requirements
  • Loans up to $15,000
CONS
  • Not a direct lender
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What is LendYou?

LendYou is an online lender that provides easily accessible loans to people in need of fast cash funding. With over 5 years in business, they have established a reputation as one of the top short-term lenders in the industry. LendYou loans are available for people with bad credit scores, allowing consumers to get their hands on money advances even if other banks and financial institutions have been turning them down. With numerous available loan term options and flexible repayment terms, LendYou is one of the greatest competitors to loans like LendUp, CashNetUSA and Wonga.

Is LendYou Safe?

LendYou has been around for quite some time now, but that is not any indication of their trustworthiness. However, after using LendYou on multiple occasions, we can say with certainty that they offer secure services and deliver exactly as promised. LendYou has very clear loan terms that are always stated in full before committing to a loan. This allows you to be made aware of the exact dollar amount that will be taken from your account on the repayment date. Furthermore, all fees and APR rates are well explained ahead of time so you don’t have any unexpected surprises.

LendYou Loan Terms & Funding Amounts

Loan terms are always going to vary depending on your current location regardless of the lender you choose. However, these loan terms are always well presented to you before signing any documents. By doing so, LendYou is capable of providing you with all of the information requirement to make a wise financial decision. You will easily be able to see whether or not the loan you are about to commit to is truly affordable according to your current situation. No hidden fees or extra charges will ever be added to the cost of your loan further down the line.

Funding amounts are also well detailed during the post-application procedures. Once approved, you will be shown for which amount of money you have been approved. Again, this greatly depends on your own state’s regulations, as each state has its own minimum and maximum loan amounts. Nonetheless, this information will be clearly stated at all times when taking out LendYou loans.

Minimum Loan Amount: $100

Maximum Loan Amount: $15,000

The amount of time it will take you to receive the actual funds also varies according to basic requirements. For instance, if you are able to provide all of your personal banking information in order to receive the funds before 3pm, you’re chances are very high that you will be receiving the money in your checking account as early as the very next business day. On the other hand, if you only provide the banking information later during the evening, you will most likely have to wait 2 business days before getting the funds in your bank account.

Different Types of Loans

We want to dedicate a short section of this LendYou review towards covering their different types of available loans. Many people have emailed us requesting more information on the different types, so this section should help clear up any confusion.

LendYou offers three basic types of loans. Below you will find information about each type.

  • Cash Advances: LendYou’s smallest type of loan is a Cash Advance. This type of funding is specifically geared towards people who had troubles receiving their pay check on time and need a backup until the money comes in. You should always use cash advance loans with extreme caution because they tend to have incredibly steep APR fees and missing payments can result in heavily bloated interest rates. Most cash advances last 30 to 35 days and they range from $100 to $1,000. These are regulated in the same manner as most payday loans, so refer to your state’s regulations on payday loans for more information about rates in your current location.
  • Installment Loans: When searching for longer term loans than cash advances, Installment Loans become a much better solution. These loans can vary from just a few months all the way to a few years. The benefit of getting installment loans is that you can borrow more than $1,000. In fact, LendYou can provide installment loans up to $5,000. These are paid back in a scheduled set of repayments rather than in a single repayment.
  • Personal Loans: These are the usual loans that you’ll find at any typical bank. They require no collateral and they can actually reach as high as $35,000. This makes it a great solution if you have a bigger project or expense such as purchasing a new vehicle. Personal loans requirement a better credit score than installment loans and they usually last for roughly 60 months or less. However, you can often repay them in full at a much sooner date without any penalty fees.

Does LendYou Do Credit Checks?

Being an indirect lender, LendYou itself does not perform any type of credit checks. However, they do connect you with lenders that often do perform credit checks. This means you should expect one to be performed when applying. However, not all lenders will perform a hard inquiry credit check, which essentially means that it won’t affect your credit score.

Hard Inquiry Credit Check: A credit check that reduces your credit score by 1 to 2 points.

Some lenders associated with LendYou may perform hard inquiry checks, but most perform what are called “soft credit checks”. This means that checking your credit score and credit history will not cause any type of damage to your credit report.

Does LendYou Improve Credit?

LendYou does not directly impact your credit score. However, repaying your loan on time will have a positive effect on your credit report. This applies to all loans taken out by accredited lenders who report to credit bureaus and LendYou works with such lenders.

Keep in mind that this also means negative actions such as missed payments are also mentioned to credit bureaus. The longer you go without paying and the more often that it occurs, the more damage your credit report will take on. By paying on time, you not only avoid this issue, but you will also increase your overall FICO score, allowing you to get larger loans the next time around and you will also be able to benefit from much lower interest rates in the future.

Can I Get a Loan with Bad Credit?

Yes, bad credit loans are available via the LendYou network. They work with exclusive lenders that specialize in getting applicants with bad credit scores approved. While you can still get funding even if you have a poor credit score, you will still need to meet most of the basic eligibility requirements.

Eligibility Requirements:

  • You must be at least 18 years old
  • You must have a minimum monthly income of $1,000
  • You must have a minimum of 30 days working at the same job
APR
4.99% to 450%
Loan Amounts
$100 - $15,000
Time to Receive Funds
1 - 2 days
Max Loan Duration
Cash Advances - 35 days
Installment Loans - 60 months
Personal Loans - 60 months
Cash Advance Loans
Installment Loans
Personal Loans
Auto Loans
Mortgage Loans
Business Loans
Minimum Age
18
Minimum Monthly Income
$1,000
Time at Current Job
30 days
Credit Score
300+
Additional Requirements
Must Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps, or Navy (or a dependent thereof), serving on active duty under a call or order that does not specify a period of 30 days or less.
Phone Number
(888) 775-0859
Address
1125 E Broadway, #545 Glendale, CA 91205
Email Address
info@lendyou.com
Website

Joshua graduated from Arizona State University with a degree in Economics and has been a credit analyst ever since. He works alongside our team by providing his expert outlook on various online lenders and credit providers.

3 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. 4
    Fees & Rates
    80
    Time Required for Approval & Funding
    100
    Support Staff
    60
    Requirements & Ease of Approval
    80

    Took 2 loans from lendyou over the past year and the experience was excellent both times. Good support team too.

    + PROS: Fast services with decent loan fees
    Helpful(3) Unhelpful(0)You have already voted this
  2. 4.5
    Fees & Rates
    80
    Time Required for Approval & Funding
    100
    Support Staff
    80
    Requirements & Ease of Approval
    100

    They sent me $1250 in under a day. Paid it back in full and now 3 months later it has a positive effect on my credit score. Was certainly worth it.

    Helpful(2) Unhelpful(0)You have already voted this
  3. 4.25
    Fees & Rates
    80
    Time Required for Approval & Funding
    90
    Support Staff
    100
    Requirements & Ease of Approval
    70

    Had to call them on numerous occasions to delay payments and they were always understanding and friendly. Great team

    Helpful(0) Unhelpful(0)You have already voted this

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