LendUp, a direct lender of money, has created a product which grants small fast cash loans as an opportunity for consumers to build credit and move up the economic ladder (only those living in USA). This lender focuses particularly on giving loans to people with bad credit or those who cannot apply for and receive small sums of money in the short term. Most of the time, this products is called unsecured personal loans bad credit.
At the beginning, starting with paying only $ 250, as borrowers are proving to be compliant and responsible, they are going up credit, which can reach $ 1,000 per year – again, as unsecured personal loans even with bad credit or with no credit score at all.
What distinguishes LendUp from the other is that its products are intended to help many of the citizens who cannot find a loan from a bank, to become creditworthy through education. Its main purpose is to solve the problem at its cause, which is bad financial education.
LendUp is a better alternative because its loans have no hidden fees, no rollover, have lower interest rates, terms and conditions are clearly established and equipped and great customer service. LendUp is leveraging technology to redefine the experience of personal loans online.
They also give you the opportunity to build your credit after having maintained a positive relationship with them indebtedness. The LendUp loans are offered exclusively through Internet and through their mobile by what their services are comfortable, fast and easy to use.
They even offer free credit education courses and the opportunity for customers to earn points and climb the ladder LendUp.
How to start?
The first thing you should do is register on the website. After completing the application from the comfort of your home using your smartphone or computer. This process takes only a few minutes.
The requirements and documentation
- An active e-mail and phone number (cell or home).
- An active bank account
- Age of majority
- Residence in the United States
- Be working – with two current check stubs.
After receiving approval, you can monitor all the details of your loan online from your virtual personal desktop. From there you can see the maturity, request a free extension and even take courses online – free credit education.
Now, a few words about LendUp products in general. We said it already, they offer unsecured personal loans, bad credit, no credit score or otherwise. But are these loans payday loans? Taking a good look, the answer is yes and no. Considering the normal duration of the loan, yes. Looking at the terms and special clauses, is more like a no.
LendUp offer is in fact an alternative to classic payday loans, being at the same time an alternative to going to a bank. What is the most important novelty of LendUp products? The LendUp Ladder – a system of points in which, the better you behave in your business relation with LendUp, the more points you get, and the more points you get, the better offers you will receive.