Loans Under 36 is a lending marketplace that specializes in connecting borrowers with lenders who can meet their particular loan requirements.
So, if you need between $500 and $35,000 and you don’t have the time to check and compare loans online, Loans Under 36 can help you out.
But with so many online marketplaces to choose from, how to decide if LoansUnder36 is the right one for you?
This is where LoansUnder36 reviews, like ours, come in. Here you will find everything you need to know about the platform, from eligibility criteria to a breakdown of the entire application process.
About Loans Under 36
Loans Under 36 is a lending marketplace established in 2015 which brings together borrowers with relevant loan providers.
LoansUnder36 does not provide loans directly. What it does is present borrowers with a slew of options from over 100 vendors in their network, so loan applicants can find the best terms and conditions for their needs.
LoansUnder36’s name is an obvious nod to the maximum APR value—the platform caps APRs at 36%, making it a more affordable alternative to other short-term loans. Still, the interest rate is set by the lender so if you have a good credit score history, you might take advantage of interest rates as low as 5.99%. If your credit score is bad, then you might expect to get higher APRs.
Who is LoansUnder 36 for?
LoansUnder36 is best suited to:
- Borrowers who need money fast. The application process at LoansUnder36 takes minutes to complete, avoiding the hassle usually linked with traditional lending.
- People who want to take a small loan serviced quickly. Although the amount you receive and the loan term depend on the lender, most loan providers in the LoansUnder36 network offer between $500 and $35,000 to be paid out from 60 days to 72 months.
- Borrowers whose credit score is not great. Since LoansUnder36 does not have credit requirements, loan applicants with bad or no credit history can make a loan request and get matched with a lender willing to work with them.
- Those who need flexibility in making repayments. LoansUnder36 works with hundreds of lenders, most of whom can provide you with flexible repayment options, a feature that several LoansUnder36 reviews out there appreciate.
An In-Depth Look at LoansUnder36 Loans
As mentioned above, LoansUnder36 is not a lender or broker. Since it serves as the middleman between lenders and borrowers, it cannot provide detailed information on loan amounts, loan terms, interest rates, or fees connected to a particular loan.
That said, LoansUnder36 partners tend to stick within the following ranges.
Loan amount & type
Loans Under 36 offers unsecured personal loans from as little as $500 up to $35,000, depending on the lender. Keep in mind though that all lenders can go as high as $35,000, so even if you request that amount, you might not find a loan provider willing to offer it.
What can the loans be used for?
Personal loans offered by LoansUnder36’s affiliate vendors are no different than standard small personal loans. This means that you can use the money for almost anything, including home renovations, debt consolidation, medical bills, car repairs, last-minute holiday bookings, or a medical emergency.
APR
Loans Under 36 does not determine your annual interest rate. Instead, it is set by your lender and based on your creditworthiness, employment status, and place of residence.
However, LoansUnder36 ensures customers that the maximum APR on the platform will not go over 36% or under 5.99%.
Here is a representative example of how much you will need to pay based on the APR and loan term.
| Amount borrowed | Loan term | Loan origination fee | APR | Monthly repayment | Monthly repayment + 3% fee | Total amount payable |
| $2,000 | 12 months | $60 | 29.82% | $189.12 | $329.44 | $2269.44 |
Repayment Terms
Personal loans typically have a minimum repayment term of 60 days and a maximum of 72 months.
Payments are required monthly or bi-monthly, depending on the terms and conditions offered by the lender.
If you choose to, the lender might arrange to have the repayments deducted from your account automatically, which is much more convenient than depositing the money in person.
LoansUnder36 does not have a prepayment penalty policy in place and won’t charge you anything if you’re late with payments. This is again up to the lender. If you are behind with your payments, it’s best to talk to your loan provider directly.
Are there any fees?
The services provided by LoansUnder36 are free. That is not to say that the loan won’t cost you anything. Depending on the amount you borrow and other factors, you might be charged extra fees by the lender.
LoansUnder36 Application Process & Requirements
The LoansUnder36 application process is as easy as they come. Plus, it’s 100% free.
All you need to do is fill in the form on the official website.
But, before you do that, let’s talk about the eligibility criteria. Namely, to be able to use the services of LoansUnder36, you must meet the following conditions:
- Be at least 18 years old
- Be a US citizen or permanent resident
- Have a steady stream of income
- Have an active bank account (preferably a checking account)
If you meet these criteria, you are ready to make your loan request.
LoansUnder36 Application Procedure
1. Fill out the online loan request form
The first thing you will notice on the Loans Under 36 website is the questionnaire you are required to fill out to get the application procedure started.
In it, you will need to provide the following information:
- Name and DOB
- Contact information, such as phone number, email, and mailing address
- Banking information, including your bank's routing number and bank account info
- Employment and income information, such as your job title, monthly income, contact info for your employer
You might also be asked to provide your Social Security number and driver's license number, in addition to other personal information.
The application approval time is around 5 minutes, and the entire process is done online, so it’s fast as well as convenient.
Bear in mind that by requesting a loan, you are giving permission to the company or lenders to run a credit check, which may adversely affect your credit score.
Note: When filling out your loan request, it’s a good idea to have your driver’s license number and bank account details in front of you to expedite the process even further.
2. Loan offers
After you sign up with LoansUnder36, you will get personal loan offers from the platform’s affiliate lenders.
Since LoansUnder36 partners with a vast network of loan providers, you will most likely receive various offers with specific terms and rates.
Now is the time to carefully review the terms and conditions offered by the lenders that have approached you. This is the most important part as it will determine how much interest you will pay on the loan and the term in which the loan must be repaid in full.
Lenders will also disclose repayment policies and any additional fees that come with the personal loan.
You are not obligated to accept any offers. However, if you find a loan offer with favorable terms, you will be asked to provide more information about yourself and then proceed to finalize the deal with the lender.
3. Getting the loan
After signing a contract with your chosen lender, the funds will be transferred to you within 24 hours. Keep in mind that the loan disbursement time may vary from one lender to the next.
Privacy and Security
Since you are sharing sensitive information with the LoansUnder36 website, it’s imperative that you look into the security measures the company uses to protect that data.
Fortunately, LoansUnder36 implements 256-bit SSL technology to encrypt your data and only shares them with lenders to find the perfect loan for you.
Loans Under 36 Customer Support
Currently, there are two ways you can directly contact support representatives: by email (at info@loansunder36.com) and by mail (1223 Wilshire Blvd., #852, Santa Monica, CA 90403-5400).
Unfortunately, the site itself doesn’t have a support tab or live chat, so it might be harder for customers to reach them. Nevertheless, the questions you might have for LoansUnder36 should not extend beyond the loan request process, as all details regarding the loan itself will be decided by your chosen lender.
LoansUnder36 Reviews
How is the company rated by its users?
Loansunder36 has a poor rating on TrustPilot based on 4 reviews, which is nowhere near enough to form a complete picture of the company.
Other third-party review sites have been more generous with their rating. FundingHero has given it a 8.9 rating, while MoneyUnder 30 ranks it 7.5/10.
As far as BBB rating goes, the company is not listed with the Better Business Bureau, so there are no LoansUnder36 reviews from BBB to report on.
Want to Consider Other Options?
As great as LoansUnder36 is, there are other similar services on the market that can give you the same features and more.
Here are some of LoansUnder36 biggest alternatives:
LoansUnder36 vs. Bad Credit Loans
| LoansUnder36 | Bad Credit Loans |
| APR | 5.99% - 35.99% | 5.99% - 35.99% |
| Amount Range | $500 - $35,000 | $500 - $10,000 |
| Credit Score | None | None |
| Loan Terms | 60 days - 72 months | 3 months - 72 months |
Bad Credit Loans is another lending marketplace where borrowers can quickly connect to an extensive list of lenders and make quick comparisons between them. The biggest difference between the two sites is that Bad Credit Loans offers loans up to $10,000 compared to LoansUnder36 which can go from $500 to $35,000. So if you need a larger sum of money, LoansUnder36 is a better option.
LoansUnder36 vs. AmOne
| LoansUnder36 | AmOne |
| APR | 5.99% - 35.99% | 2.49% - 35.99% |
| Amount Range | $500 - $35,000 | $1,000 - $50,000 |
| Credit Score Requirements | None | None |
| Loan Terms | 60 days - 72 months | 12 - 84 months |
AmOne is one of the most popular lending platforms, being in the business for 17 years. The site offers an even lower minimum APR than LoansUnder36, although the rates you actually get will depend on numerous factors. The website has an A+ BBB rating, and it doesn’t have minimum credit score requirements.
AmOne is also available in all 50 states and offers higher loans than Loans Under 36, ranging from $1,000 to $50,000.
LoansUnder36 vs. CashUSA
| LoansUnder36 | CashUSA |
| APR | 5.99% - 35.99% | 5.99% - 35.99% |
| Amount Range | $500 - $35,000 | $500 - $10,000 |
| Credit Score | None | None |
| Loan Terms | 60 days - 72 months | 3 months - 72 months |
CashUSA, another popular lending platform, specializes in smaller unsecured personal loans up to $10,000. What sets this company apart is that it only runs a soft credit check when you make a loan request, so filling out the CashUSA online application form will not affect your credit score.
