Fair Lending Policy

Fair Lending Policy for LoanMe, Inc.

At LoanMe Inc., we do not discriminate against any applicant or discourage anyone on a prohibited basis from submitting an application. To assure that our employees have a clear and unequivocal statement of our commitment to a nondiscriminatory method of doing business, we have adopted the following fair lending policy. Employees must be thoroughly familiar with this policy and follow it.

  1. We do not discriminate against a loan applicant or borrower on the basis of race, color, religion, national origin, sexual orientation, handicap, age, the fact that all or part of an applicant’s income comes from any public assistance program or because the applicant has exercised any right under any relevant state or federal law.
  2. We do not selectively encourage applicants and we take no action that would, on a prohibited basis, discourage a reasonable person from applying for a loan.
  3. We do not, on a prohibited basis, refuse to make a loan, vary the terms offered including the amount, interest rate, period or type of loan, or use different standards to evaluate collateral or decide whether to extend credit.
  4. We avoid practices or policies that have a discriminatory effect. This rule applies to all phases of our lending business. It applies even though we do not intend the policy or practice to be discriminatory and even if the policy or practice appears to be neutral.
  5. We make sure that our scoring system is empirically derived and statistically sound and uses no prohibited basis other than age as a predictive factor.
  6. We train our loan personnel in the principles of fair processing and underwriting.
  7. Our Quality Control Manager regularly reviews both our loan underwriting standards and the business practices by which we implement them to determine whether they ensure equal lending opportunity and reports to management.
  8. We periodically review our loan portfolio and applications to make sure that we are serving the community adequately and on a nondiscriminatory basis in light of the community’s demographic characteristics and credit demands.

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** Application process takes 5 minutes to complete. Upon completion, a conditional approval may be given pending review of documentation. Two hour funding time is based on the time from final approval following receipt of all required documents and signing, prior to 1 PM PST on a business day. In some cases, credit underwriting and due diligence may require additional documents, which can delay funding time.

© 2020 LoanMe, Inc. All Rights Reserved. LoanMe is located at 1900 S. State College Boulevard, Suite 300, Anaheim, CA 92806.

Minimum loan amount varies by state. Credit approval is subject to LoanMe's credit standards, and actual terms (including actual loan amount) may vary by applicant. LoanMe requires certain supporting documentation with each new application.

California loans are made pursuant to LoanMe Prime’s California Department of Business Oversight Financing Law License #603K061.

Texas residents: LoanMe is a registered Texas Credit Services Organization and licensed Credit Access Business (CAB) under license #1900063619-162948. LoanMe merely arranges the loan, which is made by an unaffiliated third-party lender, PCAM CREDIT VIII, LLC.

Terms and ConditionsOffers provided to customers who originated via a paid Google or Bing advertisement feature terms on LoanMe Prime of:
Maximum APR: 13.33%
Maximum Loan Repayment Term: 180 Months
Minimum Loan Repayment Term: 180 Months
Representative Example: A homeowner in Utah with 760 FICO, who meets income and other credit requirements could receive a Prime loan for $15,000 with an interest rate of 9.90% and a 17.00% origination fee of $2,550 for an APR of 13.33%. In this example, a consumer would receive $12,450 deposited into his or her account and will make 180 monthly payments of $160.27 each. Total repayment would be $28,848.60.

Your actual rate depends upon credit score, loan amount, loan term, home ownership, and credit usage & history. You can pay back the loan early with no pre-payment penalties. Please note that loan fees apply and affect the amount of cash you receive.