Best Loans Like Lendly & Why To Choose Them

Should I Apply Loan on the same day

Financial organizations have greatly simplified the lending procedure. Today, you can easily apply for a loan online without leaving home. There are special services that everyone can use. It is just necessary to go online, find a good offer, and fill out the application form. You no longer need to visit offline branches, collect numerous documents, and be interviewed by the manager.

Online lending services are provided mainly by lenders like Lendly. They issue small amounts of money for a short period of time. Lendly loans amounts are $200-$2,000. Money is given to those with at least 6 months of job history. A high credit score is not the main requirement. You can apply even if your score is 300.

Lendly installment loans are available to residents of 12 American states. They can be obtained for a variety of purposes. For example, to consolidate high-interest debt, cover a large expense, get through an emergency, etc. The Lendly loans term is approximately 12 months.

Read more about Lendly loans and their alternatives below.

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9 Best Alternatives to Lendly Loans

Before using lending services, you need to consider whether you can repay the loan on time. It is important to make a decision on a loan with the understanding that you will have to repay with interest. Are you ready to discipline yourself and limit your usual expenses, plan your budget in detail, or even look for additional sources of income to repay loans on time?

Assessing your creditworthiness is the main condition for effective cooperation with online lenders.

The choice of a company is also critical. You should prefer a reliable lender to get cash on the most favorable conditions. It is important to check the lender’s registration documents, review ratings, and read customer testimonials.

It is also recommended to check the feedback, pay attention to the speed of processing applications, and study the terms of an agreement. Only such an approach will allow you to make the right choice.

To make your search easier, we’ve conducted research and identified the 9 best loans like Lendly. You just need to study the features of each and choose the one that suits you the most.

Chime

Chime

Chime is one of the well-known mobile banking platforms today. It is best for clients who want to maximize their savings account interests. Chime offers a wide variety of traditional banking services without the need to be present at actual physical banks or branches. The company’s main advantage is that it offers to check accounts without any monthly fee.

Users have access to direct deposit of funds and simple cashless payments.

Chime loan amounts vary depending on the type of loan. For example, payday loans range from $50 to $1,000, while personal loans often reach $100,000. The interest on loans is small. The borrower pays $5 for every $100 borrowed. Repayment terms are usually 1-6 months. At the same time, it is possible to receive funds for a longer period.

It takes approximately 15 minutes to open a Chime account. Compared to competitors, it is very fast. Chime claims there are no hidden fees and credit checks are not strict. A required score is not defined. Therefore, even those with a bad score can fill out an application and get installment loans online.

An important advantage of Chime is the mobile application. It makes the process of applying and receiving cash as simple and convenient as possible. All you need to do is enter your first name, last name, date of birth, email address, phone number, and Social Security number to get approved.

However, it is often required to submit documents (Social Security Card, proof of address and contact information, opening deposit, etc.) confirming the provided data.

The main disadvantages of Chime are:

  • Lack of branches for personal customer service;
  • Mobile checking deposit is only available to those who subscribe to direct deposit.

Despite its minor drawbacks, Chime is a great alternative to Lendly. Feel free to contact the company and get a loan to cover your emergency expenses.

Upgrade

Upgrade

Upgrade is a lending company founded in 2017. It is good for borrowers who need access to small loans. Upgrade provides loans to US residents on flexible terms and at competitive rates. The service interface is very simple and user-friendly. Therefore, even novice PC users have no difficulty navigating the site.

The Upgrade platform offers consumer loans with a 24-84 months repayment period. Loans amount: $2,000 – $50,000. Interest rates: 5.66%-35.97%. The minimum score is 560. You can apply if your score is lower, but most likely, you will be rejected. Other requirements for borrowers include

  • 18 years of age;
  • Residence in one of the US states;
  • Having a verifiable bank account;
  • Providing a valid email address.

The pros of Upgrade are the presence of a convenient application, no need to pay a prepayment penalty fee, and direct payments to third-party creditors. The cons are that the company charges 1.85%-8.99% origination fees and has a fairly high annual percentage compared to competitors.

Upgrade is trustworthy. If the requirements suit you, contact the company and get an instant deposit on your bank card.

Upstart

Upstart

Upstart is an advanced peer-to-peer lending platform developed by three ex-Google employees. They created intuitive software for banks and financial institutions, as well as a P2P lending platform.

A distinctive feature of the company is how it assesses risks. Most lenders review the FICO score, but Upstart has created a system that assesses a wide range of borrower risks using machine learning and artificial intelligence technologies. Consequently, the company’s loss ratio is much lower than that of other companies working in this field.

Upstart loan amounts range from $1,000 to $50,000. There are state-specific minimums in Georgia ($3,100), New Mexico ($5,100), Ohio ($6,000), and Massachusetts ($7,000). Annual rates are 6.50%-35.99%. Repayment term – 36-60 months. Origination fee – 1.85%-8.99% of the total personal loans amount.

Like other reliable lenders, Upstart conducts a credit check. However, it is not very strict. The minimum required score is 600. This makes Upstart a great option for those who need an urgent small loan but have a low score.

To get Upstart loans, you need to meet some requirements:

  • Have a Social Security number and a valid US address;
  • Reach adulthood;
  • Have a regular source of income;
  • Credit score of 600. Although there are many applicants who have a score of 300 and get approved.

The main advantages of Upstart:

  • Fast funding;
  • It is possible to change the payment date;
  • Not inflated APR.

The main disadvantages of Upstart:

  • Origination fee is required;
  • Only two repayment term options are available;
  • No mobile application. 

Upstart is good for those who need cash to cover unexpected expenses and who meet the established requirements of the lender. It offers favorable and transparent loans conditions.

Speedy Cash

Speedy Cash is a well-known loan company that has been in business since 2001. It is the best choice for those looking for instant payday loans, title loans, installment loans, and lines of credit. Despite the fact that the company is not BBB accredited, it deserves the trust of borrowers.

The Speedy Cash loan amount reaches $3,000. Annual rates vary from state to state. The repayment term directly depends on the type of loans and is approximately 5-60 months. The origination fee is $10.00 (non-refundable). Using the company’s services is easy due to the presence of a convenient mobile application.

The required score is 670. The main requirements for the borrower: meet minimum age requirements in a state, have an active checking account, and provide proof of steady income. The advantages of the lender are fast funding and the absence of a prepayment penalty. The disadvantages are the high origination fee and inflated rates. 

Speedy Cash works legally. Therefore, be sure that you can get reliable and safe financing services by contacting this company.

Earnin

Earnin

The Earnin platform is another great alternative to Lendly. It allows you to receive a salary in advance by providing employment details. It offers users to cash out up to $100 with no interest or fees. At the same time, it is advisable to leave a tip ($0-$14) for the service received. The platform positions this as instant access to money that can be used to cover a wide variety of financial needs (paying utility bills, buying food, etc.).

Earnin does not set any repayment terms for borrowers. There is also no credit check. Therefore, you can contact the company even if you have a low credit rating.

The availability of the Earnin mobile application with a simple and intuitive interface allows using the service at any time. Nevertheless, there are several requirements for borrowers:

  • Having a verified bank account that receives at least 50% of your direct deposit;
  • Regular (weekly, semi-monthly, or monthly) salary schedule;
  • The presence of a timesheet that demonstrates earnings at the moment.

The main advantages of Earnin are the absence of any interest and a quick financing schedule. The downside is that the service requires providing information about a bank account. Earnin is good for those who need cash to cover emergency expenses between paychecks. You may use its services and get benefits.

Dave

dave

Dave is a US-based fintech app with over 6 million users. It provides users with a budgeting and lending product and a cash dispensing service.

App users can borrow up to $500 for a short term. There are no annual rates or fees. At the same time, users can leave a tip for the services received.

Dave does not perform a credit check. Your score doesn’t matter. However, to receive Dave loans, you must have an active bank account created at least 60 days ago. It is also important to have a positive balance and have deposits totaling at least $1,000 per month.

Dave is trustworthy, charges no interest, and provides fast funding. The downside is that it requires subscriptions and bank account access. If you are satisfied with the conditions under which the company issues loans, install the application and get the necessary amount of cash already today.

Cash Express

Cash Express

Cash Express is instant cash in your account. You can contact the company at any time when there is a need for additional funds. Cash Express allows you to receive the necessary funds in a matter of minutes. But it is important to meet the following requirements:

  • Live in one of the states of America;
  • Be 18+ of age;
  • Have a valid Social Security Number;
  • Provide a valid email address;
  • Have a regular source of income.

Cash Express loan amount varies between $100-$2,000. Annual rates vary but do not exceed 36%. There is a credit check, but it is not strict. Required score – 300-640.

The advantage of Cash Express is the presence of an application that makes obtaining credit services as simple and convenient as possible. Another important advantage is that the requirements for borrowers are not extensive. Among the cons, we can single out the fact that services are not provided in all US states.

If you are satisfied with loans conditions, contact Cash Express and receive cash for any purpose, including paying utility bills, buying equipment, repaying a previous loan, paying for apartment repairs, paying for medical services, etc.

Fast5K Loans

Fast5k Loans

Fast 5K Loans is a good financial choice for those who need cash quickly and without any rigorous checks. Fast 5K Loans minimum loan amount is $500. The maximum loan amount is $35,000. The loans repayment term can reach 72 months. A prepayment fee is required.

The required credit score is 300-850. This means that even people with bad scores can apply. There is no minimum annual income among the requirements for borrowers. Even those with $0 can get approved. The company considers borrowers regardless of their employment status and ability to meet debt obligations. This is its main advantage.

The disadvantages of the company are that there is no online chat feature and annual rates can be inflated. Therefore, consider this when contacting Fast 5K Loans online.

Check City

checkcity loans

Check City is one more good Lendly alternative we want to talk about. You can apply there and get a payday loan, installment loan, personal loan, or any other type of loan. Available loan amounts range from $2,000 to $35,000.

The minimum loans period is 1 year and the maximum is 5 years. APR rates and fees vary from state to state. But according to customer reviews, they are much higher than those offered by competitors.

A credit check is conducted. The minimum required score is 580. But this is not a single requirement for borrowers. Here is a complete list of what you need to get Check City loans:

  • Government ID;
  • Basic contact information;
  • Social Security Number;
  • Proof of income;
  • ACH Account Number.

The advantages of the lender are the fast processing of applications, transparent funding conditions, and the absence of hidden fees. The downside is the high annual rates. However, the company is reliable and therefore you can go there to get help paying your bills and covering other expenses.

What Lendly Is

Lendly is a lending company that has been operating for several years but managed to gain the trust of users. Lendly provides loans in the amount of $200-$2,000 on favorable and transparent terms for those who have a job history of at least 6 months.

There is no Lendly prepayment fee. Annual rates are not disclosed, but Lendly states they are available. The average Lendly loans term consists of 26 payments every two weeks (about a year).

Lendly requirements for borrowers are standard. Lendly applicants must be 18+ years of age, reside in one of the US states, and provide proof of regular income. The Lendly company does not conduct rigorous credit checks. But only those with credit scores of 300-850 FICO can apply and get approved.

How Lendly Works

Lendly is open Monday-Friday from 8 AM to 10 PM EST and Saturday-Sunday from 9 AM to 6 PM EST. At this time, you can contact the service and apply for a loan online. The Lendly application is processed very quickly. Be sure that it will take no more than 5-10 minutes.

At the next stage, Lendly loan approval takes place. The coincidence of the information specified in the Lendly questionnaire and the data in the documents is checked. The number of open loans at the time of application is determined. The client’s income level is assessed. This approach makes it possible to make the right decision regarding loans approval or refusal.

The third stage involves the direct Lendly deposit to the customer’s bank account. This is usually the case if the applicant meets the lender’s requirements.

Who Are Lendly Loans For?

Who Are Lendly Loans For

Lendly loans are great for those who need a small amount of money to cover urgent expenses. These can be:

  • Emergency payment of utility bills;
  • Repair of household appliances or purchase of a new one;
  • Cosmetic repair of a house or apartment;
  • Payment of the tuition bill;
  • Payment of medical or dental services;
  • Payment for existing loans, etc.

Lendly’s requirements for borrowers are simple. The key is to have a 300-850 FICO credit score, be of legal age, and live in a US state where the Lendly services are available. If you meet Lendly requirements, you can use the services at any time you need.

What States Lendly Currently Offers Loans In

Lendly offers its lending services in Wyoming, Wisconsin, Washington, North Dakota, New Mexico, Nebraska, Missouri, Montana, Oklahoma, Florida, Utah, Kentucky, Idaho, Louisiana, Mississippi, Indiana, Arkansas, Delaware, Michigan, Texas, Tennessee, Ohio, and Arizona.

At the same time, people living in other states can also apply for a Lendly loan and get approved. The main thing is to comply with the requirements of the lender.

How Is Interest Calculated For a Lendly Loan?

Lendly interest accrues daily on the unpaid principal amount for the number of days remaining outstanding. The calculations are based on a 365-day year.

Can I Get a Loan With Bad Credit In Lendly?

It is not necessary to have a high credit score to get loans like lendly. Even those with a bed credit score of 300+ can apply.

Pros and Cons of Lendly Loans

Loans like lendly have some pros and cons. They are listed in the table below.

Pros of Lendly Loans Cons of Lendly Loans
Transparent tariffs Small loan amounts
Loyal requirements for borrowers Short loans term
Clear work schedule Penalties for late payment
Ease of applying Lendly loan is not available in all US states
Quick decision making  
High percentage of Lendly approvals  
Prolongation  

When to Choose Alternatives to Lendly

Lendly loans are beneficial in a number of cases. However, sometimes it is better to use Lendly alternatives. An alternative may be the best solution if you don’t meet the requirements or live in a state where the company’s services are not available. Choosing the Lendly alternative may also be required if the necessary loan amount exceeds $2,000.

FAQs

Can I apply for a Lendly loan by fax or mail?

You cannot apply for a Lendly loan by fax or mail. A mobile device or desktop computer is required.

Does Lendly consider other factors in addition to an applicant’s employment history?

Lendly also considers age (18+), the credit score (300-850 FICO), and residential address (one of the US states).

How does applying for a Lendly loan affect my credit?

The Lendly loan request will most likely be added to your credit history. This may have a slight negative impact on your overall credit score. But conscientious fulfillment of loan obligations will help increase your credit rating.

How much can I borrow with Lendly?

You can borrow with Lendly up to $2,000.