Borrow today using just your paystub!
The first ever peer-to-peer lending platform that uses collaterals as security! Users are able to lend to one another- the borrower sets the repayment amount, the repayment date, and chooses what collateral they want to provide to the lender. The lender is then responsible of securing the collateral, and holds on to the collateral until the amount is repaid.
How is Loanr different from any other traditional personal loan apps?
Loanr is a secured collateral loaning marketplace, which means that your peers will store your belongings in their possession until the loan is repaid in full. Other loaning platforms may refer you to collections if you do not pay back on time. At Loanr, the lender will keep your possession in case of repayment- no collection agencies involved!
About APR:
APR (Annual Percentage Rate) is the annualized interest rate charged when you request money in advance. It combines the nominal interest rate and some fees or additional costs that can be involved when you get a loan. The APR on quick loan options varies, with lenders offering rates of 5.99% to 35.99% on unsecured personal loans for borrowers with a good credit score.
Disclosure: The maximum Annual Interest Rate can only go up to 36% on Loanr
Our app is not involved in the lending process, thus we can’t state any specific APR you will be offered applying for a loan today. The credit decisions and terms depend solely on the lender but can not exceed 36% APR. The lender is legally required to inform you of the APR and other loan terms before executing the agreement. Some states have strict laws limiting the APR rates and fees that a lender can charge you. Only the lender you are connected with can inform you of specific rates and terms in accordance with the local laws.
The app itself is great and has come through whenever I was in need but now I am having a slight issue! I was given a loan and paid the loan back on the date that it was due but the confirm button for me to confirm that it was repaid is no longer there. Now it shows on my end that the loan was granted but never repaid. I’ve reached out twice to report the issue and have not received any response back yet. Can you please assist!
Selective Borrowing And Lending Now
Sunflower2024113
So disappointed. I began using the app in late June working with a lender and now cannot work anymore with the lender because the app has an issue connecting to PayPal to do subscriptions now and the company has not been posting any status updates…only that it would be fixed last week. Not answering my reporting issue concerns either. But yet there are some borrowers able to post and get funded yet it said all borrowers are impacted. I had hoped to work with my lender a little more but skeptical now if it were to come back up and work. ****Updated 11/5 - it’s still not resolved as they stated. I tried to get a loan and it published but none of the lenders or new lenders really communicated and now they are refunding all the publishing fees again. I’m done. Tried to give a second chance. ***
Developer Response
Hello, all issues regarding our payment system has been fixed! Please let us know if we can help further
Happy with it
sb7823
I was looking for an alternative to SoLo and found this app. I really like it! Yes, the monthly subscription is pricey and it’s not something I plan to rely on for long, but it is much better than getting a payday or tribal loan with 700% interest. I was funded within a couple hours of requesting my first loan. You can privately message with your lender. We used PayPal. customer service is responsive. Really great experience so far.
Great app, a bit of a new approach
ortiz303
This is a great app and has a really innovative approach to lending. You pay a certain fee to request a loan, but if the loan is not granted, then you get your money back.I would say that for other people where it did not work out was because they didn’t have paystubs and thought that the loan was 100% guaranteed. Overall, great app.
Bug fixes
Version 4.0
The developer, Loanr, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
Contact Info
Contacts
Identifiers
Privacy practices may vary, for example, based on the features you use or your age. Learn More
Accessibility
The developer has not yet indicated which accessibility features this app supports. Learn More
Information
Seller
Loanr
Size
1.7 MB
Category
Business
Compatibility
Requires iOS 13.0 or later.
iPhone Requires iOS 13.0 or later.
iPod touch Requires iOS 13.0 or later.
Mac Requires macOS 11.0 or later and a Mac with Apple M1 chip or later.
