Basically, LendUp provides two primary kinds of loans — short-term loans and installments loans

Basically, LendUp provides two primary kinds of loans — short-term loans and installments loans

Trying to get a LendUp Loan

LendUp describes that applying for the short-term payment that is single won’t effect your credit ratings. That’s as it does not utilize a tough credit inquiry to check on your money because of this loan kind, but instead an inquiry that is soft. LendUp provides an instant online application and (usually) provides immediate decisions 24/7.

Short-term loans are LendUp’s product that is main, but they’re only for sale in particular states, shown below.

Short-term loans:

  • Could be called payday loans or direct loans, or promoted as options to payday advances.
  • Needs to be reduced in one single swelling amount after an amount this is particularly certain of that is arranged in the beginning of the loan.

LendUp now offers loans that are installment but those are restricted to even fewer states. Additionally, to obtain an installment loan you will need to advance through the LendUp Ladder by you start with short-term loans, as explained below. Installment loan requests will often need a difficult inquiry on your credit.

Installment loans:

  • Are often known as signature loans or credit building loans (if they’re reported into the major credit agencies).
  • Are payable over a lot of time which can be arranged in the beginning of the loan, with equal re re payments every month before the total quantity is paid down. […]