Loans Personal Loans

LoansUnder36 Review [2024]: Is it Worth the Chance?

Finding a personal loan can be tricky, but loan marketplaces like LoansUnder36 may help.

By Larissa Runkle
and Samantha Hawrylack

Edited by Jess Ullrich

Updated Dec. 17, 2024

Learn More

Loans Under 36%

OUR VIEW

It’s not a good feeling to need money fast, especially if you don’t have a great credit score. Fortunately, loan marketplaces offer options for people with many types of credit and qualifying factors to find a suitable lender and loan.

LoansUn der36¹ <p>Rate quotes on LoansUnder36 are no greater than 35.99% APR with terms from 61 days to 72 months.</p> is one loan marketplace option, but its reputation is still up for debate based on recent reviews. They work with 100+ lenders to match borrowers with a suitable loan. The "Under36" in their name refers to the rates they offer – up to 35.99% APR. If your credit isn't stellar and you're in need of money, taking a high-interest loan is an option, but one that should be considered seriously because it can ultimately worsen your financial situation.

Pros

Offers a free lender-matching service

Works with 100+ lenders to give you options for loans

Borrowers receive up to five offers from different lenders

Cons

Not BBB accredited

Limited information on their website (lack of transparency)

You may receive excessive advertising and phone calls after applying

How we evaluate products

LoansUnder36 is a lending marketplace that connects borrowers with lenders offering personal loans in nearly all 50 states. The company doesn’t provide loans directly but rather presents borrowers with options for how to get a loan from its lending affiliates, all of which will include interest rates ranging from 5.99%-35.99% (as of May 23, 2023).

Because many companies offer personal loans (and loan marketplaces), it’s important to do your research before working with one. When it comes to LoansUnder36, we’ve done some of that homework for you. Before deciding whether this lending marketplace suits your needs, here's everything you need to know.

What is LoansUnder36?

LoansUnder36 is an unsecured personal loan marketplace that launched in 2012. An unsecured loan is a loan that doesn't require property to secure it, like a house or car. The company offers access to both short-term and long-term loans.

Because it’s not a direct lender, LoansUnder36 will share your information with other loan providers. According to the LoansUnder36 website, they share your information with up to five companies, so expect phone calls and emails from several lenders after applying.

LoansUnder360 has a network of 100+ lenders and because they ultimately compete for your business, you may have options when choosing the best loan for your situation. As with any personal loan, borrowers can use these loans for anything, including credit card debt consolidation, home improvements, auto repairs, personal projects, or even medical bills. If you want to improve your credit score, taking out a personal loan may help you build credit.

Alternatives to LoansUnder36

3.7

Borrow Up to $50K to Finally Crush Your Debt

Answer a few questions and get multiple loan offers. No fee and no minimum credit score to see rates.

Check your rates here

Get Matched With a Personal Loan up to $100K in Minutes

Shop lenders and compare rates.

See your offers

What rates and terms does LoansUnder360 offer?

The personal loans the LoansUnder36 affiliate lenders offer start at $500 and go up to $35,000. The repayment periods vary between two months and six years. Like any loan, the terms and eligibility criteria vary depending on the lender.

The company’s affiliate lenders offer personal loan interest rates ranging from 5.99%-35.99% (as of May 23, 2023) — a wide range that depends on your qualifying factors. Since most personal loans are unsecured debt, they tend to have higher interest rates. However, your credit score and other qualifying factors determine what they offer. Each lender determines loan terms on an individual basis, including loan amounts, interest rates, loan repayment terms, and origination fees.

Because LoansUnder36 is a marketplace and not a lender, you’re not under any obligation to accept a loan offer. If you apply and don't find the right loan for your needs, you can pass on every offer. Just know that once your information is in its system, you must opt-out of receiving new offers from lenders.

Is good credit required?

To apply for a personal loan with LoansUnder36, you must be at least 18 years old and a U.S. citizen or permanent resident. Although there’s no minimum credit score requirement to apply, higher credit scores often yield better loan offers. Ideally, you should also have a bank account with direct deposit.

In addition to your credit history, LoansUnder36 will consider all of the usual personal loan requirements, including your debt-to-income ratio and monthly income.

Tip

Keep in mind that though the company matches borrowers with lenders in most states, some services may not be available in your area.

How to apply for a loan with LoansUnder36

The good news is that applying for an online loan with LoansUnder36 is simple. You’ll provide some personal information, including your bank's routing number, bank account information, driver's license number, phone number, source of income, and Social Security number, in an online form.

By providing this, you agree to the company’s terms, which include sharing this information with lenders and running a credit check.

After applying, most borrowers receive a response rather quickly. Some receive a decision within minutes and have approved funds disbursed the next day, but every situation differs; there's no guarantee of same-day funds.

After you receive and review offers, you can accept or decline them. If you accept an offer, you'll complete your loan agreement with your chosen lender and follow their process to close the loan.

What are the fees?

LoansUnder36 doesn’t charge any fees for its marketplace services. It is an affiliate marketplace for lenders who advertise on the platform. However, your chosen company may charge fees for the loan if you follow through with it. Always ask your lender upfront so you’re aware of the loan’s total costs.

FAQs about LoansUnder36

Is LoansUnder36 legit?

The verdict is still out on whether LoansUnder36 is legit. They aren’t rated by the Better Business Bureau and they have a 2.7 out of 5 star rating on TrustPilot, but with only four reviews.

Except for one five-star rating, the others state LoansUnder36 is a scam and potentially stole their personal information. If you have questions about loans or lending partners, contact LoansUnder36 customer support via phone or email.

What credit score do you need for LoansUnder36?

LoansUnder36 doesn’t exclude borrowers who have bad credit or low credit. Although there’s no set credit score required to borrow from a LoansUnder36 affiliate, the higher your credit score, the more likely you are to secure a loan with low interest rates.

How much can you borrow with LoansUnder36?

LoansUnder36 affiliate lenders offer a flexible range of loans, from as low as $500 to as high as $35,000. The amount you can borrow depends on your individual financial circumstances and creditworthiness.

Bottom line

If you’re in the market for a personal loan, LoansUnder36 may serve the purpose of finding a loan. They offer a straightforward process that gives choices as to who you borrow from and may help you get a personal loan quickly.

However, many lending marketplaces (and lenders) exist, and it's crucial to shop around as it empowers you to make informed decisions. Be sure to look at the loan terms, monthly payment, late payment fees, and whether the loan has a prepayment penalty.

If you’re looking for other borrowing options, check out our comprehensive list of the best personal loans on the market — and, as always, do your homework before signing up.