Up to $1,480 in your bank account in just minutes.
With secure transactions, instant pre-qualification, and a direct connection to your preferred mobile banking and payment tools, we’re putting the key to financial freedom in your hands.
See how simple it can be.
Responsible users are our favorite. Use our calculator to estimate how loan repayment will look as part of your monthly budget.
How Can You Use Your Loan?
There are absolutely no limits to how you can use your personal loan.
Here are just some of the common ways we help people finance their needs.
Holiday Gifting Loans
Simplify your debt and minimize bills by paying off multiple existing balances with a single personal loan, leaving you with just one monthly payment to keep track of.
Home Improvement Loans
Simplify your debt and minimize bills by paying off multiple existing balances with a single personal loan, leaving you with just one monthly payment to keep track of.
Bill Consolidation Loans
Simplify your debt and minimize bills by paying off multiple existing balances with a single personal loan, leaving you with just one monthly payment to keep track of.
Why choose a small personal loan?
Personal, payday, and credit card loans are all common options for borrowing money with few restrictions on how to spend it, but a personal loan may offer the best balance of accessibility and reasonable repayment terms for your situation.
Moderate
Most applicants receive pre-approval up to a set amount in just minutes.
Up to $1,760
Borrow only what you need with loans as small as $500 or as large as $1,760.
Variable
Repay your loan in small installments or get it done fast to minimize interest – we work on your schedule.
Moderate
Though higher percentage-wise than mortgage or student loans, personal loans’ relatively low principal amounts equate to highly manageable sums in dollar terms.
What can some extra cash help you achieve?
As the first digital-only installment lender, we’re serious about the ways safe, efficient access to capital can create transformative change. Whether you’re paying for home repairs, upgrading work equipment, or just taking the opportunity to treat yourself – LendMobile is here to provide quick access to cash with reasonable terms and repayment schedules.
Pre-qualification in just minutes
Find out if you’re a loan candidate without the hassle of travel or phone calls.
Loans of up to $1,760 at a time
Take out loans for your full pre-qualification amount or opt for as little as $500.
No limitations on how to spend your cash
Business or pleasure. Family or friends. Spend your loan how you want to.
How LendMobile Works
What Is a Loan?
Understanding loans shouldn’t be all that hard. You take some money, you return some money, that’s roughly it, right? So why does the vocabulary of the loan industry sometimes feel like it’s meant to be as confusing as possible?
To make sure you feel comfortable in your financial choices, let’s break down the language around borrowing.
Loan –
A sum of money you receive from a personal acquaintance or a financial institution that is given with the expectation that it will be returned at a later date – typically, with a little extra on top
Principal –
The amount that you are borrowing
Interest –
The extra amount you will have to pay for the convenience of being loaned money
Term –
The length of time you have to repay the loan amount in full
Installment –
A repayment of a partial portion of the loan amount
Revolving Credit –
Allows you to borrow more as you pay off portions of existing debt
Fixed Credit –
Requires you to pay your balance in full before borrowing more
Secured Loan –
Backed by a physical asset, like a house or a car, that can be revoked in the event of non-payment
Unsecured Loan –
Not backed by a physical asset, but whether they are not repaid or not has the potential to influence your credit score
Pre-Payment Penalty –
Some lenders do not like the idea of you paying off a long-term loan quicker than anticipated because they lose out on the amount of interest they will get. Because of this, they may charge this added cost for paying back your loan ahead of time.
Balloon Payment –
Another way to discourage people from paying off their loans faster, balloon payments usually require the final payment in a series of installments to be more than 2x larger than previous installments.
- Amount
- Requirements
- Interest
Understanding Personal Loans
Unlike payday loans, that often bypass the qualification process to impose predatory interest rates, or traditional credit cards, that can make it hard to budget or control spending, personal installment loans can bring stability to life’s bumpier moments while actually helping you build your credit history.
Learn More
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Small Personal Loans vs. Payday Loans
The terms make all the difference! Check out this side by side comparison to see why a personal loan is a better fit for those conscious about their budget.
Personal Loan via LendMobile
- Allow access to cash in just minutes
- Have a convenient web application process
- Can be used for anything
- Have much lower interest rates than payday loans
- Allow for early repayment with zero pre-payment penalties
- Never trap borrowers with balloon payments
- Help you build a positive credit score
- Calculate personalized pre-approval amounts to ensure the highest chances of full, timely repayment
- Make it easy to consolidate debt
- Eliminate the need for collateral
- May poorly impact credit history if not repaid
- Only amounts up to $1,760 can be borrowed
Payday Loan
- Allow access to cash in just minutes
- Only require ID and a bank account to apply
- Often have web application process
- Can be used for anything
- Interest rates are the highest in the industry – around 400%
- Typically have a balloon payment to keep you trapped in a debt cycle longer
- Debts often end up being ‘rolled over’ from one loan to the next, increasing out-of-pocket costs
- Lack of pre-approval limit leads to harder time paying back loans
- Don’t help you build credit
What kind of loans are out there?
If you’re looking for a loan, you’ll have a few options to consider, some more specialized than others. Here’s how they stack up.
| Loan Type | Interest Rate | Typical Term | Secured/Unsecured | Rate Type |
|---|---|---|---|---|
| Personal Loan | 10% – 100% | 2 – 24 months | Unsecured | Fixed |
| Payday Loan | 300% – 700% | 2+ weeks | Unsecured | Fixed |
| Credit Card | 13% – 26% | 1 month | Unsecured | Revolving |