Loan amounts typically range up to $5,000, although availability may vary by state and lender. The amount you're eligible to borrow depends on your income, creditworthiness, and the lender's underwriting criteria.
Rates & Fees
At The Loan Lounge, Inc., we believe in transparency and clarity when it comes to loan costs. While we are not a direct lender, we connect applicants with a network of lending partners who provide short-term personal loans. The specific rates and fees associated with your loan will depend on several factors including your credit profile, the lender's policies, your state of residence, and the amount you request.
Loan Amounts
Annual Percentage Rate (APR)
The Annual Percentage Rate (APR) represents the total cost of borrowing on a yearly basis, including interest and any applicable fees. APRs for short-term personal loans can vary widely — typically ranging from 6.99% to 35.99%, but in some cases may be higher, especially for loans with shorter repayment terms or for borrowers with less favorable credit.
Each lender in our network is required to disclose the APR, along with all other terms, before you accept the loan offer. You are under no obligation to accept the offer if you do not agree with the terms presented.
Finance Charges and Fees
Depending on the lender and your loan agreement, your loan may include:
- Origination Fees: A one-time fee deducted from your loan amount or added to the repayment schedule. This fee will be disclosed before funding.
- Late Payment Fees: If you miss a payment, the lender may charge a late fee as outlined in your loan agreement.
- Non-Sufficient Funds (NSF) Fees: If your payment is returned due to insufficient funds, a fee may be applied.
- Processing or Administration Fees: Some lenders may include administrative costs in the loan structure, though these will be made clear beforehand.
Repayment Terms
Repayment terms for loans obtained through The Loan Lounge, Inc. vary depending on the lender, the amount borrowed, and your repayment ability. Many loans are structured as installment loans, with repayment periods ranging from 3 to 24 months. Other loans may be designed as short-term payday advances, due in full on your next payday.
Prior to finalizing your loan, the lender will provide a complete breakdown of:
- Your monthly payment amount
- Total repayment amount
- Number of payments and due dates
- Applicable interest and fees
We strongly encourage all applicants to carefully review the full loan agreement before accepting any offer, and to reach out to the lender directly if any part of the repayment plan is unclear.
No Prepayment Penalties
Most of our partner lenders do not charge a fee for early repayment. This means you can pay off your loan early and potentially reduce the overall cost of borrowing. Always check your specific loan terms to confirm.
State Limitations
Certain states have restrictions on maximum APRs and loan amounts. Loan availability and terms may vary accordingly. Not all applicants will qualify for the maximum amount or the lowest APR.
If you're ready to explore your loan options, begin by filling out our short and secure online form. There's no cost to submit your request, and you'll have the opportunity to review any offer before accepting.