LoansUnder36 Review 2021

What is LoansUnder36?

LoansUnder36 is a website that provides a vetted list of lenders to those looking for personal loans under $36,000 with an APR of 36% or less. The site allows you to safely and securely compare rates from 100+ lenders all in one place. LoansUnder36 is not a lender itself, but rather a marketplace that allows you to shop for a lender that is right for you. Because there is no minimum credit score or minimum income required, this website is a good option for those who may have lower credit scores.

We’ll review the process from start to finish to equip you with all the information you’ll need before using LoansUder36.

Is LoansUnder36 Legit?

Yes, LoansUnder36 is a legitimate and secure website that recommends real loan options.

Quick Facts

LoansUnder36 is best for people who need a fast and small injection of cash. It is a secure website that is safe to use. However, you should be aware that they will collect some sensitive information in order to provide you with accurate loan information that is tailored to you.

The website works with a large network of personal loan providers which means they will provide a plethora of unsecured personal loan options for nearly every budget.

Here are some key details we discovered while using the website:

• Loan amounts range from $500 to $35,000
• The platform is free to use
• The application process takes only a few minutes
• In order to apply for a loan, you will need to provide information such as your address, monthly income, credit score, and license or state ID number, social security number, and your bank information
• There are monthly and bi-monthly payment options available
• LoansUnder36 does not offer arbitration services

Who is LoansUnder36 best for?

LoansUnder36 is popular because they don’t have strict eligibility criteria. You do not need to have a minimum credit score, nor is there a minimum income threshold. There is also no minimum length of credit history. This means those who have fair or bad credit will still be able to shop for loans easily through the website.

Here’s what you need to apply:

• You must be 18 years of age or older
• It is required that you be a US citizen or permanent resident
• Proof of income
• You must have an active bank account

 Weighing the Pros & Cons

Pros:

• No impact on credit score.
• Quick approval time
• Easy to use
• There are many different interest rate and loan term options available
• Great customer service via email
• No minimums. There are no minimum requirements for credit score or income (though you will have to prove some source of income)
• Wide range of loan amounts available

Cons:

• Not available in all 50 states. (They do not serve New York, Vermont, West Virginia, or Alaska)
• LoansUder36 is not a lender. Though they will provide you with a list of lender options, they are not the lender themselves. This means they will not guarantee rates or loan amounts.
• While the website itself will not check your credit, the lender will check your score if you end up applying for a loan to determine your eligibility
• There is no online education center
• No customer service support via phone

Frequently Asked Questions about LoansUnder36:

Are there fees?

There are no fees to use LoansUnder36 itself, but depending on which loan you select from the site the lender may charge you fees and/or interest. Origination fee, interest, APR, and late payment fees will all differ by lender. Each lender will provide you with full disclosure of the loan terms, so be sure to read through each before selecting one.

Will LoansUnder36 lend me money?

LoansUnder36 is not a lender. They simply serve as an online comparison website to connect you to banks and lenders that will be able to lend you personal loans.

How long do I have to repay the loan?

Loan repayment terms will differ by lender. If you are in the market for a short-term loan, there are options as short as 60 days. If you require longer repayment terms, there are options up to 72 months. Read more about the difference between short and long-term loans here.

What can a personal loan be used for?

A personal loan can be used for anything you need. Medical bills, home repairs, or other large purchases can all be financed with the help of a personal loan.

What if I am late on a payment?

Late payment penalties will differ for each lender and loan. You might be subject to late fees.

Will LoansUnder36 collect my information?

In order to identify which loans are right for you, the website will collect personal information from you. This will include your social security number and home address. By voluntarily providing this information, you are opting in to receive communications from LoansUnder36, as well as lenders and other third-party services. This information is only collected in order to deliver you appropriate loan options and information from banks and other lenders.

Is LoansUnder36 Worth it?

Generally, we found that LoansUnder36 was a worthwhile option for those who do not have the best credit score. It is probably not necessary to use if you have excellent credit or if you can easily qualify for a personal loan.

They offer a handful of affordable options and easy-to-use search tools. If you qualify, the process is fast and you can receive your funds within a day or two. Overall, it is a trustworthy site and can be a useful tool in the search for personal loans.