There are so many loan providers out there but have you seen similar kinds of loans like lendly?

Lendly is a loan provider that offers personal loans to individuals. These personal loans are unsecured loans, meaning they are not backed by any collateral such as a car or a house.

They are usually used for expenses such as consolidating credit card debt, paying for home improvements, or financing a large purchase. Loans like lendly are typically offered at fixed rates and terms, which means the interest rate and loan term do not change during the life of the loan.

The lender will check the credit history of the borrower and based on that, determine the interest rate and the loan amount. Lendly also offers tools to help customers better manage their finances and loans, like a loan calculator, loan tracking, and budgeting tools.

It’s important to note that loans like Lendly may have specific requirements that need to be met before you can apply for a loan such as income, credit score, and debt-to-income ratio.

It’s recommended to check the website of similar loans like lendly to understand their specific loan terms, rates, and application process before you decide to apply for a loan with them. Want to know more about lendly? Follow this link to read lendly review.

In this article, we provided lists of loans like lendly that can help you clear up your debt until payday. As you read further, you’ll discover these loans like lendly.

Table of Contents

List of Loans Like Lendly

1. LightStream

LightStream is an online lending division of Truist Bank, a national bank that offers personal loans to consumers.

They are loans like lendly that offer a variety of loan options including loans for home improvement, debt consolidation, auto purchase, and many more.

They specialize in providing loans to customers with good credit, and they offer competitive interest rates and terms on their loans.

LightStream also provides quick loan approvals, and funds can be disbursed in as little as the same day. In addition, these loans like lendly also offer a unique feature called the “Rate Beat Program” where they promise to beat any qualifying interest rate offered by another lender by 0.10 percentage points.

LightStream’s loan process is completely online, and they have a user-friendly application process customers can check their rate online without any impact on their credit scores.

To qualify for a loan with LightStream and similar loans like lendly, borrowers typically need to have good credit, a steady income, and a low debt-to-income ratio.

Pros of LightStream

Competitive Interest Rates: LightStream offers competitive interest rates on their loans like lendly and in a way making them a good option for borrowers with good credit.
Quick Approval: LightStream is known for providing quick loan approvals and funding, which means borrowers can have access to funds quickly.
Rate Beat Program: Lightstream’s “Rate Beat Program” promises to beat any qualifying interest rate offered by another lender by 0.10 percentage points, which can save borrowers money on interest.
Wide Range of Loan Options: LightStream offers a variety of loan options, including loans for home improvement, debt consolidation, and auto purchase, making it a good option for many borrowers.
No fees: LightStream doesn’t charge any fees for their loans, including origination fees, prepayment penalties, or late fees.

Cons of LightStream

Good credit required: LightStream loans are typically geared towards borrowers with good credit, which means borrowers with lower credit scores may not qualify.
Limited to US Citizens or Permanent Residents: LightStream only provides loans to US citizens or permanent residents, which means international borrowers or those with non-permanent resident status cannot apply for a loan.
No Cosigner option: LightStream does not offer the option of having a cosigner on a loan, which could make it more difficult for some borrowers to qualify.

It’s recommended to carefully weigh the pros and cons of LightStream and compare it with other loans like lendly before applying for a loan with them.

It’s also important to consider your personal financial situation, credit score, and loan terms, rates, and fees before making a decision on a loan provider.

DON’T MISS THIS: What is Loan forgiveness and How Does it Work?

2. OppLoans

OppLoans is a personal loan provider similar to loans like lendly that offers installment loans to consumers with less-than-perfect credit.

They are an online lender that provides loans like lendly to borrowers who may not qualify for traditional bank loans.

OppLoans offers personal loans for a variety of purposes such as debt consolidation, home improvement, and emergency expenses. They have loans from $500 to $4,000 with terms from 9 to 36 months.

OppLoans use different criteria than traditional banks and credit bureaus to approve loans, they also look at factors such as income and employment history.

They typically approve loans for borrowers with a minimum credit score of 600, which is lower than many traditional lenders. They also offer a fast application process and may be able to fund loans as soon as the next business day.

Similar Loans like lendly, and OppLoans, charge an origination fee and an interest rate that is higher than traditional loans, but they are still lower than other alternative lenders.

They also offer flexible repayment options and will work with borrowers to create a payment plan that fits their budget.

Pros of OppLoans

Flexible eligibility criteria: OppLoans use different criteria than traditional banks and credit bureaus to approve loans, which means they are more likely to approve borrowers with less-than-perfect credit.
Fast funding: OppLoans offers a fast application process and may be able to fund loans as soon as the next business day.
Flexible repayment options: OppLoans offers flexible repayment options and will work with borrowers to create a payment plan that fits their budget.
High loan amount: OppLoans offer loans from $500 to $4,000 with terms from 9 to 36 months.
Good customer service: OppLoans is known for providing good customer service and helping borrowers through the loan process.

Cons of OppLoans

High-interest rates: OppLoans charges an origination fee and an interest rate that is higher than traditional loans, which can make the loan more expensive overall.
Not available in all states: OppLoans is not available in all states, so borrowers may not be able to apply for a loan if they live in a state where OppLoans doesn’t operate.
Limited loan options: OppLoans only offers personal loans, which means they don’t offer other types of loans such as mortgage or auto loans.
Not a long-term solution: OppLoans is not a long-term solution for credit or financial problems, it’s a short-term loan that can help with emergencies but borrowers should be aware of the high-interest rates.

It’s recommended to carefully weigh the pros and cons of Opploan and compare it with other loans like lendly before applying for a loan with them.

It’s also important to consider your personal financial situation, credit score, and loan terms, rates, and fees before making a decision on a loan provider.

3. Possible Finance

Possible Finance is a digital lender that provides short-term personal loans to consumers with less-than-perfect credit.

Loans like lendly use a variety of data points, including bank account data, to assess creditworthiness and to approve loans. They offer loans from $100 to $500 with terms of up to six months.

Possible Finance aims to provide an alternative to traditional payday loans, which often have very high-interest rates.

These loans like lendly use technology and automation to lower the cost of lending, which allows them to offer lower interest rates than traditional payday loans.

They also offer flexible repayment options and work with borrowers to create a payment plan that fits their budget.

Pros of Possible Finance

Alternative to traditional payday loans: Possible Finance aims to provide an alternative to traditional payday loans, which often have very high-interest rates. They use technology and automation to lower the cost of lending, which allows them to offer lower interest rates than traditional payday loans.
Flexible repayment options: Possible Finance offers flexible repayment options and works with borrowers to create a payment plan that fits their budget.
Rewards program: Possible Finance offers a rewards program that rewards borrowers for making on-time payments.
Mobile app: Possible Finance has a mobile app that allows borrowers to manage their loans and make payments easily.
Fast funding: Possible Finance offers a fast application process and may be able to fund loans as soon as the next business day.

Cons of Possible Finance

High-interest rates: Possible Finance’s interest rates can still be high compared to other loan providers.
Not available in all states: Possible Finance is not available in all states, so borrowers may not be able to apply for a loan if they live in a state where Possible Finance doesn’t operate.
Limited loan options: Possible Finance only offers personal loans, which means they don’t offer other types of loans such as mortgage or auto loans.
Not a long-term solution: Possible Finance is not a long-term solution for credit or financial problems. It’s a short-term loan that can help with emergencies, but borrowers should be aware of the high-interest rates.

It’s recommended to carefully weigh the pros and cons of Possible Finance and compare it with other loans like lendly before applying for a loan with them.

It’s also important to consider your personal financial situation, credit score, and loan terms, rates, and fees before making a decision on a loan provider.

4. Prosper

Prosper are similar loans like lendly responsible for a peer-to-peer lending platform that allows individuals to lend and borrow money from each other. It was founded in 2006 and is based in San Francisco, California.

The platform uses a credit scoring system to evaluate borrowers and determine the interest rate they will pay on loans. Prosper allows borrowers to apply for personal loans for a variety of purposes, such as debt consolidation, home improvement, and medical expenses.

The platform also allows investors to earn returns by funding loans to borrowers. Prosper is an alternative to traditional bank loans, and it can offer lower interest rates to borrowers with good credit.

Pros of using Prosper

Lower interest rates for borrowers with good credit: Prosper uses a credit scoring system to evaluate borrowers and determine the interest rate they will pay on loans. Borrowers with good credit may be able to get a lower interest rate than they would from a traditional bank loan.
Variety of loan purposes: Prosper allows borrowers to apply for personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
Alternative to traditional bank loans: Prosper is an alternative to traditional bank loans and can offer a more flexible and convenient way to borrow money.
Potential for high returns for investors: Prosper allows investors to earn returns by funding loans to borrowers. The platform provides detailed information on borrowers, including credit scores and loan purposes, which can help investors make informed investment decisions.

Cons of using Prosper

Risk for investors: Prosper is a peer-to-peer lending platform, which means that investors are lending money directly to borrowers. If a borrower defaults on their loan, the investor may lose their investment.
Limited loan amounts: Prosper’s maximum loan amount is $40,000. Borrowers looking for larger loan amounts may not be able to get the funding they need through Prosper.
Not available in all states: Prosper is currently only available to residents of certain states in the United States.
May be difficult for borrowers with poor credit: Prosper uses a credit scoring system to evaluate borrowers, and borrowers with poor credit may not be approved for a loan or may be charged a higher interest rate.

It’s recommended to carefully weigh the pros and cons of Prosper and compare it with other loans like lendly before applying for a loan with them.

It’s also important to consider your personal financial situation, credit score, and loan terms, rates, and fees before making a decision on a loan provider.

DONT MISS THIS: What is Loan forgiveness and How Does it Work?

5. LendUp

LendUp is a financial technology company that offers a range of lending products, including personal loans, credit cards, and lines of credit. The company is based in San Francisco and was founded in 2012.

One of the main features of LendUp is its focus on helping borrowers with poor credit build or improve their credit scores.

The company offers a ladder rewards program that allows borrowers to earn points by making on-time payments and taking financial education courses. These points can be used to access lower interest rates and higher loan amounts.

Pros of using LendUp

Credit-building opportunities: LendUp offers a ladder rewards program that allows borrowers to earn points by making on-time payments and taking financial education courses. These points can be used to access lower interest rates and higher loan amounts, which can help borrowers with poor credit build or improve their credit scores.
Short-term financial solutions: LendUp offers installment loans and lines of credit, which are designed to help borrowers with short-term financial needs.
Lower rates and fees than traditional payday loans: LendUp states that its loans have lower rates and fees than traditional payday loans, which can make them a more affordable option for borrowers in need of quick cash.

Cons of using LendUp

High-interest rates: Although LendUp’s loan products may have lower rates and fees than traditional payday loans, they are still typically more expensive than traditional personal loans from banks or credit unions.
Limited availability: LendUp operates in only a few states, and not all products are available in all states.
Legal issues: LendUp has been sued by regulators for alleged violations of state and federal lending laws, which can raise concerns about the company’s practices and reputation.
Short-term loans: LendUp offers short-term loans which means that the amount you borrow will have to be paid back with a high-interest rate in a short period of time, if you can’t repay on time, it can lead to a cycle of debt.

It’s recommended to carefully weigh the pros and cons of Lendup and compare it with other loans like lendly before applying for a loan with them.

It’s also important to consider your personal financial situation, credit score, and loan terms, rates, and fees before making a decision on a loan provider.

In Conclusion

In conclusion, peer-to-peer lending platforms like LendUp, LightStream, Possible Finance, OPPloan, and other loans like lendly offers personal loans to borrowers for a variety of purposes, such as debt consolidation and home improvement. Apart from loans like lendly, here are some loans that are beneficial for unemployed people.

These loans can be a good option for borrowers who have been denied by traditional banks or credit unions, but they typically come with higher interest rates and fees. They are also subject to state laws and regulations.

It’s important to carefully research and compare different loans like lendly before applying for a loan. It’s also essential to read the terms and conditions of the loan carefully and to consider your ability to repay the loan before borrowing.

It’s a good idea to check the availability of the loans like lendly products in your state, and also to check for any legal issues the platform might have encountered.

It’s also important to note that loans like lendly are usually short-term loans, which means that the amount you borrow will have to be paid back with a high-interest rate in a short period of time.

If you can’t repay on time, it can lead to a cycle of debt, So it’s important to be aware of the risks and to use these loans responsibly.

If your loan has not been funded, an applicant can withdraw their loan application by giving the Customer Success Team a quick call at 1‑844‑4LENDLY (1-844-453-6359). If your loan has been funded, a customer can rescind their loan within three business days by returning their funds. Please contact the Customer Success Team at 1-844-4LENDLY (1-844-453-6359) for assistance. If a customer with an open loan would like to pay off their loan, they can do so by calling the Customer Success Team at 1‑844‑4LENDLY (1-844-453-6359). There is no prepayment penalty for paying a loan off early.

Small Business Hint

Quick Loans like lendly: Best Alternatives To Lendly in 2023