Frequently Asked Questions
Find answers to common questions about our loans and services.
We consider applicants with credit scores of 580 and above. However, other factors like income and employment history also play a role in our decision. The better your credit score, the more competitive rate you may receive.
Once approved, funds can be deposited into your bank account as soon as the next business day. The exact timing depends on your bank's processing times.
No! When you check your rate with LendSmart, we perform a soft credit pull, which does not impact your credit score. Only if you proceed with a loan application would a hard inquiry be performed.
Personal loans can be used for almost anything: debt consolidation, home improvements, major purchases, medical expenses, weddings, vacations, and more. The funds are deposited directly to your account for flexible use.
No, LendSmart never charges prepayment penalties. You can pay off your loan early at any time without any additional fees.
We offer loan terms from 12 to 84 months. Loan amounts range from $1,000 to $100,000. APR ranges from 5.99% to 35.99% depending on your creditworthiness.