Thinkin’ ’bout investin’ in Lendgo? Not sure if it’s legit? You ain’t alone! It’s real important to research before you commit. Here’s a guide to help you make a smart choice ’bout if Lendgo is the right investment for you.
Contents
Quick facts: Is Lendgo Legit
- ✅ LendGo has helped over 150,000 people find the right loan product for their needs (LendGo)
- ✅ LendGo is a BBB-accredited business, with an A+ rating (Better Business Bureau)
- ✅ LendGo has been featured in Forbes, Entrepreneur, and other prominent media outlets (Forbes, Entrepreneur)
- ✅ LendGo charges no fees for its services (LendGo)
- ✅ LendGo’s customer service team is available 24/7 (LendGo)
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Introduction
Welcome to our guide for Lendgo! Is it legit? We’ll answer that and more.
Lendgo links borrowers and lenders. It offers loans from $3,000 to $40,000, and terms of up to 12 years. Investors can get in on the action too. They can invest in stocks, or in P2P loan contracts through the platform.
We’ll review the relevant info regarding Lendgo. That way you can make an informed decision about using them, or investing in them.
Overview of Lendgo
Lendgo is an online lending platform that helps businesses looking for debt financing. They offer secured and unsecured business loans, lines of credit and merchant cash advances. Clients can find these services in all 50 states and the District of Columbia, with amounts varying according to creditworthiness.
Applying is easy – either online or by phone – and decisions are instant, with competitive rates and quick funding upon approval.
Security is a priority for Lendgo. All personal and financial data is encrypted with SSL technology before being sent to their servers. And all sensitive material is kept confidential. They also have an on-staff customer service team, available 24/7/365 via email or telephone, to respond to any questions or concerns about the application process or loan agreement.
Lendgo’s Services
Lendgo is a fintech firm that offers online lenders a full range of lending services. These include sourcing, underwriting, servicing loans, and portfolio management and reporting.
Through Lendgo’s digital platform, lenders can make better choices faster. They can build custom lending portfolios to fit each borrower’s specific needs. Data points such as credit scores, income, bank account balances and more, help Lendgo give detailed insights into whether a borrower is able to pay back the loan. All info is encrypted securely, so lenders can trust make lending decisions.
Lendgo also provides solutions for borrowers looking for different financing options, or having trouble with debt repayments.
Lendgo’s Security
When it comes to safety and security, Lendgo takes its responsibility seriously. The company uses rigorous encryption technologies like SSL (Secure Sockets Layer) encryption to secure customer data. All customer accounts are protected with two-factor authentication. This requires users to enter their username, password, and a unique one-time code sent via text message.
Lendgo also has built-in fraud detection systems that monitor the platform 24/7. This guarantees customer safety and satisfaction.
Pros and Cons of Lendgo
LendGo is a peer-to-peer lending platform. It connects borrowers and lenders, but doesn’t give loans directly. Borrowers can search for loan details like terms, amounts, and repayment plans. Lenders can look for the lowest interest rates.
Pros of using Lendgo are quick approvals, easy payment scheduling, flexible repayment options and low interest rates. Plus, no credit check is needed. Cons are high fees (2% of the loan amount), limited availability in some states/countries, and potential fraud if loans aren’t paid on time.
In conclusion, Lendgo offers an easy way to access funds, but should be used with caution.
Pros
The benefits of Lendgo are great: lower interest rates than other lenders, repayment plans that are adjustable, a fast loan application process, and a website optimized for mobiles. Plus, no hidden fees and a free consultation with an experienced loan advisor. And, it’s accredited by the BBB, so you know your money is secure. Also, they have a great customer service team to help with queries or refer to other reliable lenders if necessary.
Cons
Using Lendgo might have some drawbacks. Borrowers may not know the terms, late payment fees, and what happens if they default. A high interest rate might be involved, as well as collateral. Since it’s unsecured, borrowing a large amount may be hard.
Consider these cons when thinking of taking a loan from Lendgo:
- Terms
- Late payment fees
- What happens if they default
- High interest rate
- Collateral
- Unsecured borrowing
Alternatives to Lendgo
When searching for finance, many options exist. Lendgo is a popular choice. Yet, different options are more suited to individual needs. These involve:
- traditional banks and credit unions
- peer-to-peer services like Prosper and Upstart
- online lenders such as NetLoanUSA and Earnest
- loan brokers MoneyMashup and LoanZing
- crowdfunding sites GoFundMe or Kiva
- government-backed loans from the SBA, MCAs
- invoice factoring services Fundbox and BlueVine
- asset-based lenders CapitalRise or Lending Club
- bridge lenders Neighborhood BounceBack or P2P Credit Line
It is important to compare all options before picking one.
Conclusion
Is LendGo legit? Yes! They offer great customer service and a wide selection of loan offers. It’s not guaranteed, but you will usually have a good experience.
The Better Business Bureau gives LendGo an A+ rating. Plus, there are very few complaints about them. Also, customers who have used their services gave them positive reviews. All these facts show LendGo is a legit business that will help you find the best loan for you.
FAQs about: Is Lendgo Legit
Q: Is Lendgo Legit?
A: Yes, Lendgo is a legitimate company, providing safe and secure loan services to customers. We are certified, licensed, and regulated by the Financial Services Commission of Ontario.
Q: What type of loans does Lendgo offer?
A: Lendgo offers personal, auto, and home equity loans.
Q: How long does it take to get a loan from Lendgo?
A: The process is fast and efficient. Most customers can receive their loan within 24-48 hours.