Reviews Summary

Lendumo.com has a 3.8 - star rating from 14 reviews, indicating a low level of customer satisfaction!

5 stars
6 Reviews
4 stars
4 Reviews
3 stars
1 review
2 stars
1 review
1 stars
2 Reviews
Rating (1.0)

About company

In response to the challenges faced by those dealing with unexpected expenses, a team of financial experts devised a more accessible solution. Recognizing that traditional banks often subject applicants to lengthy waits and credit scrutiny, they sought to provide a quicker and more inclusive option. Their goal was to address the pitfalls associated with payday loans, which frequently trap borrowers in cycles of debt. With a strong commitment to improving financial well-being, they designed an alternative that prioritizes speed, convenience, and responsible lending. The result is a service that empowers individuals facing emergencies, offering a lifeline without the financial burdens often associated with such situations.

Key Details:

  • Location: The company is headquartered in Lac du Flambeau, United States.
  • Founders: -
  • Foundation Date: The company was established in the year 2020.

Customer reviews

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(4.0)
While I was in the middle of filling out
by Tinika

While I was in the middle of filling out the form, I got a phone call, and the person on the other end was really nice, giving me time to finish up before putting me on a short hold. When they came back, they told me I got the green light. The whole thing was wrapped up in about 20 minutes.

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(2.0)
If you can avoid borrowing money, definitely do so
by Lucy

If you can avoid borrowing money, definitely do so, especially from this company. Their interest rates are incredibly high. I borrowed $500, and it ended up costing me almost $700 to pay it off. I won't be using their services again.

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(5.0)
Positive/Negative
by Mark

The company offers good customer service and applying for a loan is simple. They also fund loans quite fast. However, their interest rates and payments are too high, making it important to pay off the loan quickly.

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(5.0)
What stood out in my encounter
by George

What stood out in my encounter was the prompt and efficient handling of every aspect. The entire procedure was executed with a sense of professionalism. Given this, I anticipate obtaining another loan once the current one is settled. Appreciate your efforts, and maintain the positive momentum.

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(4.0)
They invested the necessary time
by Anonymous

They invested the necessary time, attentively listened without pushing me onto any financial commitments beyond my preference, ensuring that the loan's size aligned with my needs. They explicitly communicated the terms, and there was no exclusion from the decision-making process concerning the loan. This experience marked a pivotal moment in reshaping my perception of online banking. Thank you once more.

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(3.0)
The repayment terms are exorbitantly
by ARMER J

The repayment terms are exorbitantly steep. When pushed into a financial corner, resorting to a high-interest loan becomes a regrettable necessity. The repayment burden goes beyond the borrowed sum, reaching an unsettling fivefold increase.

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(5.0)
The process was simple
by John

The process was simple. Despite an error in my application, customer service proved highly supportive, swiftly resolving the issue with efficiency and effectiveness.

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(5.0)
I'm delighted by the unique support
by Rodolfo

I'm delighted by the unique support I received from this company concerning my loans. Their assistance was unexpected, and I sincerely hope they continue aiding individuals in similar situations. Many thanks for the valuable help; it means a lot to me.

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(5.0)
Successfully navigating the process
by Lord

Successfully navigating the process and easily settling my loan was a positive experience. The site's user-friendly design made it straightforward, allowing me to manage everything independently. Overall, my interaction with the company has been quite satisfactory.

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(4.0)
The loan process was straightforward,
by David

The loan process was straightforward, but my main gripe is the staggering 800% interest rate. It feels like the company is taking advantage of our desperation, putting us in a financially challenging situation.

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(1.0)
Outrageous fees mar Lendumo's reputation.
by Allison

Outrageous fees mar Lendumo's reputation. The legal acceptance of such predatory practices is concerning. Exploiting vulnerable individuals with an exorbitant 700% APR is reprehensible. The unprofessional disclosure of personal information adds another layer of concern, especially when privacy was explicitly emphasized. As a Veteran, investigating if their interest fees comply with ethical lending practices for veterans is imperative. Lendumo's conduct raises serious questions about their integrity and adherence to fair lending standards.

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(1.0)
I was informed that making
by Margie

I was informed that making 12 consecutive payments would result in the last 6 being interest-free. However, upon closer examination, it appears that I will still end up paying the same total amount after the first 12 payments. In other words, what was initially communicated to me turned out to be inaccurate or untrue.

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(4.0)
Getting the funds was
by Juliana F

Getting the funds was ez, and I needed them during a tough time when I was off work for three months due to emergency surgery related to my diabetes. The only downside was the high-interest rate, but I had to go with it at the time. Overall, it was a decent experience.

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(5.0)
Fast and easy approval,
by Randey D

Fast and easy approval, they work with your needs, offer affordable payments, and provide options for short-term payoffs. This makes managing your finances a lot smoother!

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FAQ
  1. Is Lendumo a real company?

    Lendumo is indeed a legitimate company. Based in Wisconsin, it operates as a tribal lender under the management of the Lac du Flambeau Band of Lake Superior Chippewa. Lendumo specializes in offering loans, providing up to $1,500 for first-time borrowers and up to $2,500 for repeat borrowers. Notably, their personal loan repayment terms differ from traditional payday loans, and they aren't due on your next paycheck.

  2. Is Lendumo a payday loan?

    Yes, Lendumo offers payday loans, which are known for their quick access to cash but typically come with higher interest rates, as is the nature of such financial products.

  3. How long does Lendumo take to deposit?

    Lendumo strives to expedite the funding process. In most cases, they can deposit funds into their customers' accounts on the business day following the completion of processing. Their customers can also benefit from highly-rated, 24/7 Customer Service, ensuring they have a clear understanding of their loans, receive prompt funding, and have access to friendly and professional assistance.

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