Reviews, experiences and complaints
You could be faced with the need to borrow money from someone, not precisely a bank or any loan company that comes with a ridiculous interest rate. It is not common for people willing to borrow money and those willing to lend to meet until they have a common ground. This used to be the case until referral companies came to light. A referral company connects lenders and borrowers and provides both parties the ecosystem to do business. Note that this type of company is different from a credit and loan company. In light of this, ReviewsBird talks about LendYou, a company that creates a common ground for lenders and borrowers to meet. But then, how good is this company? Do they operate under favorable conditions? Well, let's take a sneak peek.
LendYou is a company that provides referral services. So it is safe to say it is under the banking and finance industry. The company doesn't directly offer lending services. It only directs you to people who are willing to give the loan. It was founded in 2005. Currently, it generates a revenue of over four million dollars. The headquarters is in Glendale, California, in the United States. It is a member of the OLA (online lenders alliance) that strictly abides by a code of conduct. LendYou secures its customers' personal information by utilizing a 128-bit secure socket layer, an encryption technology.
Services of LendYou
LendYou provides connection services between independent third-party lenders and customers. This is a free service, so it is important to know that a borrower must qualify for any intended loan with the lenders themselves. This is independent of the interference of the company. Plus, Selection is not the same for all lenders; the reason is that there are customers that opt for paid service with the company. Hence, these customers are prioritized.
Types Of Loans From LendYou Connection Service
Line Of Credit Loan is a type of loan that gives a customer a chance to be loaned up to a certain amount whenever he needs it; this can be paid over a long period. It has a relatively lower interest rate compared to installment and payday loans. The Installment Loan is a type of loan between $1000 to $5000 and a long-term loan. Here, the borrower pays a fixed equal and greed rate monthly. The possible amount to be lent depends on the borrower's State. The Payday Loan is a type of loan that comes with relatively high interest. It's between $100 to $1000, and the borrower is expected to pay it back the next day.
Tips, Compliments, And Complaints Of LendYou
Two of the core tips of LendYou include opting for paid service, getting a more favorable loan service, and paying up as and when to qualify for a higher subsequent loan if you need to borrow another time. For complaints, we always entreat that customers who have benefited from this company share their experiences and feedback. This is so potential customers should have a pathway to follow and know what to expect practically. Thus, your customer review is important.