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Find the Best Personal Loan for Your Needs

LendUp is a leading online private lending company with its services available throughout the country. It is a relatively recent entrant in the financial lending marketplace – it was established in 2012.

Apart from the personal loan business, LendUp also offers “Arrow” credit cards with an innovative credit building concept.


LendUp Personal Loan Reviews

In spite of being a late entrant, LendUp has left behind the peers in business volume and popularity rankings. Along with customer accounts, it has also won customer's confidence and trust.

This has been possible because LendUp operates with a social conscience. According to the founder’s claim on its website, “LendUp was founded with one clear, straightforward purpose: to provide anyone with a path to better financial health.”

In a marketplace that operates on mutual mistrust rather than trust, LendUp has carved its niche based on deep empathy, genuine customer care, and fair practices that benchmark the ethical matrixes of the industry.

LendUp understands a basic fact that opting for a personal loan is mostly not out of choice. Rather, it is out of distress or desperation that an individual borrows commercially from a private lender.

They would have probably tried to get finance from other sources such as a bank or an insurance agency. But due to their below-average financial history and poor credit score, their request would have been turned down.

As such, the private lender would be their last resort to get a personal loan. LendUp is one such entity. Through a predominantly customer-oriented approach that can be characterized by the 3 E’s of Empathy, Education, and Eradication.

The 3 E’s of LendUp business philosophy


LendUp is in business to help people in need get fast and easy cash, and not to take advantage of their helplessness.

Hence, its approach toward borrowers throughout the lending lifecycle is based on sympathy, understanding and a genuine desire to offer them the most suitable and the least burdening loan.


Personal loans are like a good meal offered to a hungry person. They might tend to over-eat. Considering the pitfalls of commercial borrowing, LendUp has created an innovative education and awareness platform for borrowers that provides them invaluable insights into the personal finance universe.

These include diverse subjects such as prudent personal finance planning, credit score improvement, better management of loan lifecycles, securing a good financial future, budgeting, and more. The Education section of LendUp’s portal has dedicated course modules on the following subjects:

  • Credit building unveiled
  • Know your credit rights
  • The true cost of credit
  • Roadmap to your credit report
  • Build your credit: Ladder to your success
  • How to protect yourself online
  • Pay yourself first
  • Better budgeting
  • Benefits of your credit card
  • Your finances: a tool for life

Anybody can take these courses which are prepared with an interesting mix of text, audio and video.


As one can see, the thrust of LendUp education initiative is to help individuals build a good credit score and rise in the financial hierarchy. The company does not have a narrow business and profit-minded approach but is truly striving for a better life for the common American.

Through various surveys of the personal loan market, LendUp found some startling facts that prompted it to begin this ‘eradication drive.’ Some of them are:

  • A majority of Americans – around 56 percent, suffer from the subprime credit malice, which means that most financial institutions will deny them financial assistance.
  • Over 33 percent or one in 3 Americans have been actually denied loans on above criteria
  • As many as 47 percent of marginal families could not cover even a modest emergency loan of $400
  • People with low credit rating will end up paying a staggering $200,000 in interest and fees for availing personal loans

LendUp Ladder – The Tool to Uplift People’s Financial Standing

Sasha Orloff, the founder of LendUp, said in an interview to the Financial Revolutionist, “Over time, we hope that financial literacy, private sector innovation (which happens more when taxes are lower and the economy is doing well), and common sense regulation transform the environment for lower credit borrowers and lead to the extinction of predatory practices.”

As a manifestation of this aspiration, LendUp has designed a unique, proprietary financial tool named LendUp Ladder, to greatly improve distressed borrowers credit score and offer them loans at a relaxed rate.

How the LendUp Ladder works

The LendUp Ladder is a points-based program that progressively raises the bar of a LendUp customer’s financial status and credit rating.

As the customer’s rating and standing improve, they become eligible for larger loans at proportionately reducing interest rates. LendUp’s highly trained customer care executives can even design custom Ladder paths for borrowers in a way that maximizes their points-standing and thus help them qualify for larger loans.

The Ladder also keeps coming up with innovative new loan formats and structures, which registered users of the Ladder program can access on their dashboards.

The LendUp executives remain with the customers throughout their Ladder journey. They continuously review borrowers’ progress on the Ladder path and help them overcome problems along the way.

Customers can join the Ladder program and earn a point in these ways:

  • Timely payment of interest and repayment of capital
  • Taking the LendUp financial education courses
  • Submitting a real customer testimonial to LendUp

Here are the various Ladder levels and their corresponding loan amounts that the member can qualify for:

  1. Silver level: $250 single payment loan
  2. Gold level: $250 single payment loan and $200 installment loan
  3. Platinum level: $250 single payment loan and $500 installment loan
  4. Prime level: $250 single payment loan, $500 installment loan, $1000 Prime loan

It must be noted that the Ladder offering is subject to state laws and regulations. It may not be available in some US states. Readers are advised to check the Ladder availability in their state from the LendUp website. Further, the loan structures under the Ladder concept are also subject to state laws and may vary from state to state.

Loan application process at LendUp

Since LendUp is an online lender, the loan application and processing process is done virtually. It is a simple and fast process that takes just a few minutes:

  1. The applicant fills out a simple application form
  2. The LendUp loan assistant forwards the application to the deciding authorities who evaluate the applicant’s financial status, credit score, and other matters, and take an instant decision on his application
  3. If the loan is approved, the loan amount is deposited into the applicant’s bank account within 24 hours or one working day

The applicant has to provide some details while applying:

  • Name and contact information
  • Date and place of birth
  • Borrowing amount and for what purpose
  • Credit score
  • Annual income details and proof

The applicant needs to be an American citizen or a permanent resident to qualify for a LendUp loan.

LendUp lending terms and interest rates

LendUp claims to be one of the most fairly priced personal loan providers in the country. While its interest rates are rationalized, the lending amounts are dynamic, as shown above in the LendUp Ladder system. A combination of these two factors avails cheaper loans of the higher denomination to borrowers.

LendUp prides itself in having a clear, transparent, and fine print-free lending term. It is aimed at providing a fair-priced loan to persons needing them the most. The terms are not too harsh. Hence they are very accommodating and ensure that excepting the extreme cases, everybody gets a loan from LendUp.

An additional LendUp advantage is that being a direct lender; people don’t have to deal with multiple agencies to get a personal loan, as is the case with some multi-tiered lenders.

LendUp APRs are dynamically positioned. For LendUp Ladder users, they can be far below the industry averages. For example, against a flat industry average of 339 percent, the LendUp Ladder rates for various levels could be:

  • Silver: 300 percent
  • Gold: 230 percent
  • Platinum: 75 percent
  • Prime: 36 percent

LendUp claims that with their innovative Ladder concept and dynamic interest rates, they have helped borrowers to save $200 million in interest.

LendUp ratings and testimonials

Over a period of just five years, LendUp has carved a credible position for itself in the US personal loan market.

The leading rating agency TrustPilot has given the company a 5-star rating, implying industry-leading business practices, customer-friendly approach and ethical conduct.

The company on its part actively supports the CBA (Credit Business Associate) designation offered to individual professionals by the National Association of Credit Management (NACM).

LendUp endorsements

LendUp is flush with authentic endorsements and testimonials that reiterate its good-will among multiple stakeholders. These include the company’s customers, online reviewing agencies, and media opinions. A few representative endorsements are reproduced below to demonstrate LendUp’s good work that is being appreciated by so many.

Consumer Reputation

LendUP is one of the newer options for online personal loans. They get a lot of attention, so we want to make sure you get a complete picture of the company. That’s why we’ve included summaries of authoritative reviews. Use these reviews to help determine if LendUP is the best option for your personal loan needs.

Better Business Bureau

The BBB gives LendUP a C+ rating. This rating is partially affected by a government action against the company. The Consumer Financial Protection Bureau alleged that the company did not live up on its promises. This included some products not being available when they were advertised.

The company also did not provide proper information to credit reporting agencies. That means their customers weren’t able to get their credit score improved. As a result of these allegations, LendUP paid a $1.8 million civil penalty to the CFPB.

The company has 40 total customer reviews on the BBB website. 31 of those reviews are negative. There are only 9 positive reviews. That leads to a composite review score of 2.64 out of 5 stars. This is better than some personal loan companies, but certainly not among the best. As a result, customers should be wary when they’re considering a personal loan from LendUP. Make sure to read all the fine print and understand the terms of the loan you’re being offered.


Yelp doesn’t have many reviews for LendUP. The reviews they do have focus on specific locations. However, there are some great reviews on the site. Some users like the option that LendUP offers which allows them to borrow more money at a lower rate after you repay your initial loans. That shows that the company has flexibility, which could make them a good option if you frequently use personal loans to cover cash shortfalls.

LendUp uplifts borrowers do not drag them down the loan spiral

Statistics on the US’ personal loan borrowings reveal a paradoxical pattern. The country has come out of the long recessionary period that began in 2008 after the Barney Frank and Alan Greenspan fiasco and is now on a steady GDP growth path. GDP this quarter could be over 4%. Tax cuts and less regulations will do the trick.

However, Americans have not reduced their personal borrowing habits. The trend is reflected in the following data from top-5 borrowing categories:

  • 31 percent of Americans borrow for auto purposes
  • 26 percent resort to a personal loan to pay due or overdue bills
  • 21 percent seek fast cash for emergency and unexpected situations
  • 19 percent of borrowers are students
  • 15 percent want to consolidate debt through loans

From the market point of view, this is good news for the lenders in this sector. It draws a sustainable growth chart for them.

However, lenders like LendUp would not be satisfied with top-line growth alone. It genuinely wants to help the needy people and ultimately lead them to a future where they will not need distress borrowing. This appears like shooting oneself in their own foot by killing the cash cow.

But LendUp’s stated mission is not profits. They are committed to the betterment of the financially marginalized Americans through knowledge and awareness, and planning and management of personal finances. This will ultimately help them obtain better credit scores, the master key to rising above predatory personal finance economics.

As for company growth, LendUp is confident that that will happen along the way.


General LendUp Personal Loan

In this frequently asked question section, you will find general questions regarding Lendup personal loans.

Is LendUp legit?

Yes. LendUp is one of the more legitimate loan companies that offers people the chance to borrow short-term loans that is used to help rebuild a person’s credit. It currently is licensed in every state within the United States.

What is a LendUp loan?

A LendUp loan is a short-term loan that is much better than your typical payday loan. It is a type of short-term loan that is primarily used to help rebuild a person’s credit.

Is LendUp safe?

Yes. LendUp is completely safe as the company that currently runs in every state within the United States. It has been in operation for several years and is a legitimate short-term loan company.

Is LendUp a scam?

No. LendUp is not a scam. It is a legitimate short-term loan company that operates all over the United States and has offered short-term loans to thousands of people to date.

How does LendUp work?

LendUp works similarly to other payday loan services, but is considered better and safer. LendUp works on an incentive system that allows people to borrow more after having an established borrowing history from them. If you're looking for a secured personal loan then there may be other options that would work better.

How to cancel a LendUp account?

To cancel a LendUp account, you need to understand that LendUp is required by law to keep a record of all of the information you have submitted as part of a loan application. To delete your account, go through the member dashboard and cancel it from there.

Is LendUp available in my state?

LendUp is currently available in the following states:

  • Alabama
  • California
  • Florida
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Louisiana
  • Maine
  • Minnesota
  • Mississippi
  • Missouri
  • New Mexico
  • Oklahoma
  • Oregon
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

If its not available in your state then Chase personal loans may be a good option for you since they're in every state.

What is a LendUp L card?

The LendUp L card is a credit card specifically used to help rebuild someone’s credit. It is a card that reports routinely to the 3 major credit bureaus, with low fees and no security deposits required.

Can I get a LendUp loan with a Netspend account?

Yes. LendUp typically requires for users to have an active checking account in order to complete an application. While a Netspend account is good to have, it won’t allow you to get the money from LendUp that you need fast.

Can I get more money from a Lendup Loan?

Yes. LendUp is a loan company that works on an incentive program. This means that while at first you can borrow a small amount, you will be allowed to borrow more the next time around. They specialize in easy to get loans.

Does First National Bank accept LendUp Loans?

Yes. Since LendUp loans are short-term loans deposited directly into your checking account, First National bank will accept payments from LendUp loans. It is advisable to double check with the bank to be sure. You can also look at loans that don't require a bank account.

Does LendUp call your employer?

No. In order to qualify for a LendUp personal loan, all that a customer needs is an active checking account, valid phone number and current address. It will also scan recent bank transactions for those with low credit.

Does LendUp operate in Texas?

Yes. LendUp operates in Texas and currently offers short-term personal loans to Texas residents. LendUp offers loans in Texas with no rollovers, or hidden fees unlike many payday cash loans lenders. You should be able to pull up several options when you search loan company near me in the search engines.

Does LendUp work in Iowa?

No. Unfortunately LendUp does not currently offer personal short-term loans in Iowa nor will it approve applications online from those who apply from the state. However, there are plenty of other short term loans or payday lenders throughout the state.

Can I apply for the L card through LendUp?

Yes. You can apply for the L card through LendUp directly via their website or through one of their locations. The L card is a card specifically for LendUp members to use and thus the only place you can apply for it.

How come LendUp is no longer in Florida?

LendUp still currently operates in Florida. People interested in a short-term payday loans through LendUp can apply at specific LendUp locations throughout the state or complete an application online and receive approval in minutes. You can also get a cash advance online from many other sites.

How do I change my income on LendUp?

The best way to change your income on LendUp is to do so through the member login and change the income via the dashboard. You can also contact a LendUp representative directly to change the income.

How long does it take for LendUp points to update?

The amount of time it can take for LendUp points to update will vary based on the person. The time it takes can be dependent on how long it takes to pay off a loan or how long it takes to go through the free education offered by LendUp.

How many points for LendUp platinum?

The amount of points needed for LendUp platinum are 10,000 points. Once at Platinum level, LendUp will begin reporting payments made to credit bureaus to help start rebuilding someone’s credit rating.

How many states does LendUp operate in?

Currently LendUp operates in 23 different states across the United States. There are several states that LendUp does not currently operate in where people interested in short-term loans will have to seek out alternatives. If that is the case for you then you may want to consider a Bank of America personal loan or some other alternative.

How much can you borrow with LendUp?

You can borrow between $200 to as high as $1,000 for a loan from LendUp. How much you can borrow will be dependent on what level you are on LendUp and your personal borrowing history. So if you looking for a bigger loan such as a pool loan or home improvement loan then you may need to look elsewhere.

How to delete info on LendUp?

The best way to delete info on LendUp is to do so through the member dashboard upon login. Keep in mind that by law, LendUp is required to keep all information given to the company on record.

How to edit information on LendUp?

The only way to edit information on LendUp is through the member dashboard upon login through LendUp. Another way to edit information is to contact a LendUp representative directly via a phone number or location.

How to get gold on LendUp?

There are two ways to reach gold on LendUp:

  • Pay off existing LendUp loans repeatedly and by borrowing from LendUp regularly.
  • Completing additional training courses or training material on lending through LendUp.
Is Lend Nation and LendUp the same?

No. Lend Nation is a separate lending company that operates in many states that LendUp currently does not operate in. Lend Nation also does not operate on the same tier system that LendUp does.

Is LendUp a deferred deposit lender?

Technically, yes LendUp is a deferred deposit lender as they do slightly operate the same as a payday loan. However, LendUp offers a tier system unlike other payday lenders that allows those to borrow more money with on time payment history with the company.

Is LendUp a good payday loan alternative?

Yes. In fact, LendUp is an exceptional alternative to payday loans. LendUp works not only by supplying those interested with short-term loans but offer help in improving a credit rating as well as education for short-term loans. However, if you're looking for the lowest interest rate personal loans then we suggest going with other companies.

Is LendUp an instant approval?

Yes. According to the LendUp website, they offer instant loans approval within minutes upon completion of a LendUp loan application. They offer loans based on employment and a checking account.

Is LendUp arrow card legit?

Yes. The LendUp arrow card is legit. It is a credit card offered through LendUp that has an annual fee of $59 with a purchase regular APR of 29.99% and currently has a review rating of 4 out of 5 stars by actual customers.

Is LendUp available in Florida?

Yes. LendUp currently operates in Florida with approval for online applications or walk in to specific LendUp locations. Check the website for locations around Florida located around your local area. For comparison sake you can see if Rocket Loans is in your state too.

Is LendUp offered in Washington state?

Yes. LendUp currently offers short-term personal loans throughout Washington state. Those interest in these loans can applied for a LendUp loan in Washington via locations throughout the state of by completing an application online. Some consider them to be one of the best online direct lenders for bad credit.

Is LendUp serving in Illinois?

Yes. LendUp currently offers short-term personal loans throughout the state of Illinois. Those interested in a loan through LendUp can apply at retail locations or can complete an application online for instant approval. Just search loan places near me and you'll likely see a number of options in your area.

Is LendUp visa a legit offer?

Yes. The LendUp Visa card is a legit offer that is offered to members or nonmembers of LendUp. It is a way to help rebuild your credit or can be used just as a typical credit card works.

Is there any advantage to being a platinum LendUp membership?

Yes. There are several advantages of being a platinum member for LendUp such as:

  • The ability to request a loan of up to $1,000.
  • Having on-time payments reported regularly to the three major credit bureaus.

Contacting LendUp Questions

In this section, you will find frequently asked questions pertaining to how to contact LendUp in regard to their personal loans.

How to call LendUp?

The best way to call LendUp is to call their toll-free number at 1-855-253-6387. You can also contact LendUp by visiting a location directly and talking face-to-face with a LendUp representative.

How to email LendUp?

The best way to contact LendUp via email is to use the email address [email protected]. You can also contact via an email ticketing system with your general question directly on their website.

Lendup Personal Loan Type Questions

In this section, you will find frequently asked questions pertaining to the types of loan you can get from LendUp.

Is LendUp a payday loan?

Technically yes. LendUp offers short-term personal loans that can be classified as a Payday loan. However, the difference is that members can qualify for higher payout loans if they have a stable borrowing history with LendUp.

Are LendUp deposits considered wire transfers?

Yes. Since deposits of approved loan funds from LendUp are deposited directly into a person’s checking account, it is considered a wire transfer. You cannot apply for a loan through LendUp without a checking account.

LendUp Personal Loan Credit Questions

In this frequently asked question section, you will find general questions pertaining to credit ratings through LendUp.

Does LendUp check your credit?

No. As a general rule LendUp tries to deviate from checking your credit in order to qualify you for a personal loan. Instead they base approval on a valid checking account and current home address. So this means you can apply for a loan with bad credit.

Does LendUp help build your credit?

Yes. LendUp, unlike regular payday loans, help to rebuild credit or help to establish credit. It does this depending on the level of the LendUp ladder you fall under and whether or not the tier allows LendUp to report to the three major credit bureaus. This can be a great quick loans bad credit option.

Does LendUp check your credit with every new loan?

No. LendUp typically doesn’t use a person’s current credit rating to determine how much of a loan they qualify for. They go based on current income, a valid checking account and a current home address. This means they can be a great option for online loans for bad credit.

Does LendUp show on a credit report?

It can. If you are qualified for a specific tier on Lend Up’s ladder system that allows the company to report the three major credit bureaus, then LendUp payments will show up on a person’s credit report.

How to request credit increase on LendUp?

The best way to request a credit increase on LendUp is to do so once applying for a new loan. Typically, LendUp will approve credit increases with an established history of paying back loans through LendUp or by taking lending courses and training offered on the site.

LendUp Personal Loan Payment 

In this frequently asked question section, you will find general questions pertaining to personal loan payments through LendUp.

Can you pay off LendUp installment loans early?

Yes. You can pay off your LendUp installment loan early, as long as you understand that paying off such a loan will read as closed on your credit report with the major credit bureaus.

Can you pay off your prime LendUp loan early?

Yes. You can pay off your prime LendUp loan early if you wish. You will have to pay off the loans including any additional fees as well. This type of early payment will be reported as closed on your credit report.

Does LendUp offer deposit directly through checking account?

Yes. Primarily LendUp will only offer personal short-term loans that are deposited directly into a valid checking account. The company will typically turn down an application without a checking account.

Does LendUp deposit money to PayPal?

No. Currently LendUp does not offer deposits directly into a customer’s PayPal account. LendUp will only deposit any funds that have been approved after completion of an application into a members active checking account.

Does LendUp set up payment plans?

Yes. Currently LendUp does offer payment plan options to allow members to pay back any existing personal loans on time. This is typically done through a member’s checking account on their specific date.

How do I change my bank account on LendUp?

The best way to change your bank account on LendUp is to do so through the member dashboard upon LendUp login. Another way is to contact a LendUp representative directly.

How long does it take LendUp to get money?

It can take around 1 to 2 business days for LendUp to deposit money into a member’s valid checking account. The approval process for a personal short-term loan can take as little as 5 minutes.

Christine has a solid background in personal finance as she spent the last eight years working at one of the biggest banks in the US. She managed her own team of financial advisors that helped hundreds of people with their financing needs. Her innate understanding of different financial products and loans helped her move up the ranks quickly after graduating with a degree in Business Administration.