How much can you borrow from lendumo?
Lendumo offers loan amounts of up to $1,200 for first-time borrowers and up to $2,500 for repeat borrowers. Unlike typical payday loans, Lendumo personal loan repayments aren’t due by your next paycheck. Instead, they’re structured as installment loans, which are paid back over a series of weeks or months.
What is lendumo and how does it work?
Formerly operated under brand name Amplify Funding, Lendumo is an online lender based in Wisconsin, US. It provides express credits and aims to make the loan experience more convenient, efficient, and accessible.
What states does lendumo not lend in?
Availability — Lendumo doesn’t currently lend to people who live in Arkansas, Connecticut, New York, Pennsylvania, Vermont, Virginia, West Virginia or Wisconsin. Should I get a Lendumo loan? Lendumo loans are unsecured, meaning they don’t require you to put up collateral — like a car or other personal property — to secure your loan.
Does lendumo lend to military members?
In the fine print on its site, Lendumo describes its loans as an “expensive form of borrowing.” Another clue that its rates are high: Lendumo will not lend to active military members — a strong indicator that its loans exceed the 36% interest cap set by the Military Lending Act to protect people in the military from predatory lending .