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LendGenius isn’t in the business of directly offering you a loan. Instead, it’s an online marketplace that puts you in touch with a wide network of different lenders. That means LendGenius can save you time, money and effort.

Lend Genius Review

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Mike Smithson

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Company ProfileUntil comparatively recently, your options for securing a loan were largely limited to traditional, often local, lenders like banks or credit unions. But the rise of the internet has helped to create a new generation of online lenders. Super flexible, and without the large overheads and rigid structures often associated with traditional financial institutions, these online lenders represent a genuine, competitive, and viable alternative for all your borrowing needs. The problem is, that, you may not know the names of these new companies, or how to contact them. This is exactly where LendGenius comes in.&nbsp;LendGenius isn’t in the business of directly offering you a loan. Instead, it’s an online marketplace that puts you in touch with a wide network of different lenders. That means LendGenius can save you time, money and effort. Instead of having to contact each lender individually, you can compare offers from a broad selection of companies, and choose the one that best matches your needs. In that respect, it works like a comparison site for loans..LendGenius excels in helping people who have good to low credit scores. However, if you have a very high score, it might be worth exploring other options, as lenders always offer the best deals to people with the best scores.The company has been trading since 2016 and is based in Woodland Hills, California.Application ProcessLendGenius has an attractive, intuitive, and user-friendly interface. The application form looks great, is easy to use, and only takes about five minutes to fill it in. You can make the data entry process even easier by making sure you have all the relevant information to hand, like your credit score, and social security number.There are a few other requirements too, but nothing too demanding. You need to be at least 18 years old and have a bank account, proof of income, cell number, and email.Once your application is complete, it’s checked by LendGenius and matched up against the various different lenders. The company will then send you details of your best options. Because LendGenius works as an intermediary, you’ll need to contact your chosen lender directly to finalize the terms of your loan. How soon you receive the money is dependent on your choice of lender, but it’s generally within 24 hours of approval. And in some instances, you could even get your approval decision back within minutes.Loan Types And TermsOne of the best things about LendGenius is the scope and coverage of the loans it offers. It has every possible option covered: business or personal, short term or long term, good or bad credit history, and more.&nbsp;The comprehensive portfolio covers every type of loan you can possibly think of:Personal Loan Types: Debt Consolidation, Emergency, Fast Cash, Installment, Line of Credit, Online, Quick, Short Term, Title, Signature, and Unsecured.

Business Loan Types: Business Acquisition, Credit Cards, Equipment Financing, Invoice Financing, Line of Credit, Merchant Cash Advance, Short-Term, Small Business, Startup, Term Loans, and Working Capital.

LendGenius lets you use a personal loan for whatever you need: for a major purchase like a car, boat, or a home extension, for a special event like a wedding or vacation, or to consolidate and switch your credit card debts to a lower-rate loan.

A LendGenius business loan is equally flexible. You can use the money to meet your exact business needs, to buy a new piece of machinery, to tide you over in the short term, or to provide you with upfront cash for investment purposes. The quick turn-around offered by LendGenius is especially useful for business.

LendGenius gives you the option to apply for loans between $1,000 and $35,000, with repayment terms of between 2 weeks to 3+ years. Overall, the majority of LendGenius loans are for between $1,000 and $5,000.

When you’re comparing loans, it’s always worth reading the terms and conditions, as the lowest rate loan isn’t always the best option. Always check for any set-up or early repayment fees, penalties for missed payments, and other hidden charges. Don’t be wise after the event! Some lenders might also be amenable to allowing you to take payment breaks, which can be another important consideration when you’re making your decision.&nbsp;
Repayment OptionsBecause LendGenius works with a network of different lenders, you’ll need to confirm with each individual company about their specific repayment options. In particular, pay attention to academic or military deferment, if a co-signer is required, what happens if you or the co-signer die or become disabled, and forbearance policies if you’re facing hardship.&nbsp;&nbsp;&nbsp;&nbsp;

With some lenders, there may also be a fee if you repay the loan early, so always check the small print before you sign anything.Customer Support

LendGenius doesn’t list an address or a phone number on its website: the only option is to contact the company via an email form. Customer service is online only. Response times are good, but if you’re someone who likes to talk to real people, you might want to look elsewhere.

Also remember that LendGenius works as an intermediary, not as a lender. For specific questions about your loan, you’ll need to speak directly with the lender.Rates &amp; Quality Score

There’s a huge difference between the rates offered by the companies featured on LendGenius. The actual figure depends on various factors, including how much you’re borrowing, length of loan, purpose, credit score, and income.

The lowest rates on LendGenius start around 6%, but there are some big differences in the numbers: some lenders propose rates of as much as 50% for higher-risk loans.&nbsp;Summary

<blockquote>For people who need a loan in a hurry, or who have a low credit score, LendGenius is a good option - or even a genius option, as the LendGenius TV ad puts it! You only need to enter your information once to get a detailed comparison of the different lenders and options on the market. Just remember that you’ll then have to deal directly with the lender and that LendGenius has no phone contact, only online customer service</blockquote>