Lenme: Investing and Borrowing
June 26, 2024
More About Lenme: Investing and Borrowing
And if you have the interest to invest in lending. Lenme is your perfect gate to earn some cash and generate good passive income. Gain returns you have always looked for!
Benefits you can get for as low as $1.99 a month:
- No credit score required, debt-to-income ratio, or paperwork hassle.
- Creating your borrower profile and requesting a loan won’t take more than 3 mins!
- Thousands of Investors will compete to offer the best rates and you will have the power to choose.
- Get funds transferred to your bank account as quickly as the same day
- As long as you pay back your loan your limit will keep increasing until you are eligible for up to $5,000!
Lenme has the perfect investing platform!
- Diversify portfolio in a market with low volatility.
- Easily select investments that suit the level of risk you’re comfortable with.
- Enjoy withdrawing your earnings at no cost.
- Investment assistance with Lenme predict service.
- Invest in almost risk-free loans backed by Crypto as Collateral.
Lenme has a new loan just for you - borrow up to $10,000 using your Crypto-Wallet as collateral. Borrowers owning crypto can now connect their wallets to the app and request bigger limit loans. Investors can earn up to $1,700 when funding!
Lenme is a lending platform that connects people looking to borrow money with financial institutions, lending businesses, and individual investors looking to invest in the loan market. Users remain completely anonymous throughout the entire borrowing/lending process. For transparency and to encourage a fair and competitive market, the “feed” tab within the app allows users to see which loans are being funded and all associated fees. Loans shown on the "feed" reflect loans funded through the Lenme platform, some of which may not be available to Android users.
Lenme offers a monthly/annual subscription through Google Play. Subscriptions will automatically renew unless canceled within 24 hours before the end of the subscription period. You can cancel anytime via your Google Play account.
LenmePredict, our machine learning algorithm, is a standalone product offered for lenders through Apple Pay for purchase either per-use or monthly/annual subscription. Subscriptions will automatically renew unless canceled within 24 hours before the end of the subscription period. You can cancel anytime via your google play account.
Crypto-backed loans, our new product allows investors to fund cash loans backed by cryptocurrency owned by the borrower. Cryptocurrencies are used as collateral and may be liquidated in case of default or sudden price drop of the held currency.
Since our app is not directly involved in the lending decision, we cannot guarantee the interest rate borrowers will be offered. For example, Loans backed by cryptocurrency have a maximum interest rate (APR) of 25%. All borrowers have the option to request a loan on our platform for up to a 12-month repayment period and a minimum of 2 months paid in installments. Android users are not allowed to request loans that require repayment in full in 60 days or less from the date the loan is issued. Lending decision is based on multiple factors viewable on our app, including credit, income, and cash flow analysis.
A representative example of the total cost of the loan, including all applicable fees: If you borrow $1,000 over a term of 1 year with an APR of 12% and an origination fee of 1%, you will pay $89.75 per month. The total amount payable will be $1,076.96, with total interest and fees of $76.96.
For more information, see our Terms of Use and Privacy Policy.
https://lenme.com/privacy-policy
https://lenme.com/term-of-use
Latest Version
8.1.5
June 26, 2024
Lenme Inc.
Finance
Android
275,247
Free
com.lenmoinc.lenmo
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User Reviews
Terry Anderson
2 years ago
The ability to use the app is fine, but not being able to cancel a Loan for 30 days if no one wants to fund the loan is a poor design. It is restrictive and does not allow for modifying for better conditions. I also think that having to subscribe for the ability to use the App is not preferred when compared to other Apps. I would rate higher if I actually received a Loan fully funded.
Donte Mccoy
3 years ago
I signed up as a lender and about half of the loans weren't paid back. The loans haven't moved into collections or default status even though some haven't made a payment since December 2020. I attempted to contact support or several occasions and I received 0 responses. It's a great idea for lenders and people that need money; however, it is horribly managed by lenme. I would delete this app!!!! They keep hold of your login information and they access your bank account on a continuous bases.
Alyce Roark
3 years ago
Have applied for an advance twice. The first time I received an offer and their was a big in the app so everytime I tried to look at the offer it kicked me out. I applied for a second advance and nothing has happened. Unsure if the app actually works and loans or not at this point. There's very little information within the app as to how many of it works as well.
Elena Jones
2 years ago
Not really worth it. I can't cancel the loan until at least one or two lenders show interest in it, which seems extremely counter intuitive. There don't seem to be many lenders. Trying to adjust the loan or the payback date doesn't work. If there is a way to, it's not apparent. I wanted my payback date to be less than 2 months but I couldn't adjust it lower. No idea when anyone actually gets funded for something like $50-$100. Not worth the wait when you need the funds quickly.
A Google user
6 years ago
The app is simple and approachable, but the lack of payment options and pay off options is infuriating. You cannot pay off the loans early, and transactions are very slow and nobody knows, not even my bank, when these balances will pull. This app needs to update processes and add options before it would be a good idea.
Joey Potter
2 years ago
App functioned well but I just didn't get any offers. Updated update. 3 strikes your out. I was initially trying to redeem the 2 week trial I got an email about and wasn't finding where to enter code so I selected the 2 day offer with the annual subscription. I was immediately charged the $9.99 for one year starting today. This would of been my 3rd attempt at using service. I already didn't have very high expectations after previous but didn't expect to have money taken from me
Agnes Molina
2 years ago
I am so disappointed with this app!! I paid my subscription yet I keep getting an error message saying I have 1 more step THE SUBSCRIPTION!! I have emailed over 10 times. They kept asking me for screen shots of the error message I sent them each time I emailed so AGAIN over 10 times they never replied or helped me. They keep taking the monthly subscription they robbed me!
Dominique Jones
2 years ago
Not all that useful once you request the loan it has to look for investors that could possibly never be found or funded it can take up to 30 days to get it funded then to for the transfer. By then it becomes kinda useless, and if you were in a bind you're out of it by now. A better similar app is SoloFunds. They find lenders quick and transfers are immediate. You can also cancel your request whenever you like
Karen Tompkins
2 years ago
WORST APP EVER!! Had a problem while trying to add info to my account and reached out to customer service which was a total waste of time. Multiple attempts to contact someone went either completely ignored or received the same verbatim generic response that was only even vaguely related to my problem and was absolutely not helpful at all. Don't waste your time with this useless app. The only positive thing i have to say about this experience is at least I'm not out any money.
Nicole Gilyard
2 years ago
Terrible!!! This by far has been the worse app I've ever downloaded. I put the app on my phone filled out all info and signed up for a subscription. But once I tried to apply for loan it tells me I need to get a subscription, the same subscription I already paid for. I wait a week just to see if it was a processing issue but still nothing. SMH!!
Eric Wells
3 years ago
Buggy app. Great purpose. The app's bugs that I have experienced include: Multiple biometric verifications required from login screen (it goes back to the login screen and requires a second login) Selecting the help section crashes the app. Verifying email took almost around 24 hours and multiple verification emails. The app often stays in a loading state after logging in. Unrelated to app issues, it is a very slow process. You cannot delete a loan request until offers come in.
Alisha Miller
2 years ago
OMG. You can put in request alone it determines the amount that you get to request or the maximum amount I guess but then you can't cancel that request it just sits there on in forever until they decide to cancel it. If they don't find any lenders to connect you with it just stays an open search forever it was ridiculous. And of course there were no lenders in the middle of BFE where I live so it was a useless endeavor for me. The whole app seems a little useless unless you live in a big city
Edwin Watkins
2 years ago
So far, in two plus months of having the app, I have applied for loans, but it gives me a message for about 3 weeks saying looking for lenders and I can't do anything until after it clears. No messages of acceptance or denial, just no longer waiting for lender. The app itself is easy enough to use, most things are self explanatory, but (at no fault of theirs) the Plaid platform has trouble communicating so you may have do the bank connection multiple times.
asbar creedance
3 years ago
Virtually IMPOSSIBLE to get in touch with customer service. Paid the subscription sent out several emails and not a single soul has reached out to figure out why I can't use the app. I've yet to be able to use this app and I downloaded it over a week ago. If you have issues good luck getting the problems resolved because evidently they don't care.
Kimberly Ledbetter
3 years ago
So far the app is great except that if you change your mind on the loan, you cannot cancel it until you recieve an offer. Additionally I did get 2 offers right away but for unknown reason they did not go thru. I've had to email them several times and they do respond, however my issue has not be fully resolved. Overall this app is a great concept just needs a little work. I'll change rating to 5 stars once the kinks are worked out!!
Sushi Sauce
3 years ago
App continuously glitches out and crashes. I paid for the subscription. Have a loan offer and can't even click the damn thing without it crashing and not responding. I've reached out to customer service which I have yet to hear Anything about it. I'll change my review if I ever do. Otherwise warning to the wise. Don't even bother downloading the app.
Katie Piña
3 years ago
Same problem as everyone else. Signed up, clicked the subscription buttons (both) just for them not to work. E-mailed customer service, they got back to me but only gave me an hour to record a video of what was wrong so they closed my ticket because I didn't submit the problem in time. Reached out several more times just to be ignored. If I could rate this app and customer service zero stars, I would. Shut the app down if you don't want to help people. False advertising.
Tonika Moore
2 years ago
During the profile set up you need to take a front to back picture of your ID. You can capture the front with no problem. But capturing the barcode is an automatic feature that does not work even after following the directions. I contacted support, sent screen shots and a screen recording. There was an update supposedly that would fix this issue. Nope. Still does not work. Seems like a tactic to discourage applicants. If that's the case, then get rid of the auto snap feature for the ID barcode.
Thomas adams
1 year ago
Terrible service. System is too full of requests for them to even consider you. Don't waste your time. Edit: Still the same score. Wanted to add that I've paid for the year just to try it out. I've put in 2 separate requests and nothing. You can't even cancel it until it's been over a month and they cancel it for you. Seriously what kind of system is that. After a few hours your request is so buried in everything that yours is never going to be seen. Use another app and save your time.
Raven Wisel
1 year ago
So far everything seems pretty simple and straight forward, the only problem I have had is for as many banks they support for whatever reason they don't support a single one of mine that I use. Pretty much seems they don't accept a lot of mobile banking banks, which they definitely should considering that's where my checks and payments go to. *Update: so, so far I have done all the requirements besides being able to link a bank that is acceptable because all of mine unfortunately are not..
