Apply for a loan online. The application process is simple,Quick and Secure

Get A Decision

We will tell you right away if you're pre-approved for a certain amount - choose how much you want.

Get Your Cash

Receive your cash instantly. You can also get it same day via direct deposit within the next business day.

does lendly check credit

Does Lendly Check Credit? A Look at the Types of Credit Checks, the Benefits & Potential Drawbacks.

does lendly check credit


Lendly is quickly becoming one of the most popular peer-to-peer lending services in the market today. It�s convenient, fast, and secure, but the one question that many potential borrowers have is, �Does Lendly check credit?� The answer is yes, and in this blog post, we�ll take a closer look at the types of credit checks conducted by Lendly, the potential benefits and drawbacks of doing so, and any other relevant information.

Types of Credit Checks

When it comes to credit checks, Lendly does not discriminate. They run both soft and hard inquiries to assess the creditworthiness of potential borrowers. A soft inquiry is a check that does not affect a person�s credit score, and it�s typically used to give lenders a general overview of a person�s credit history. A hard inquiry, on the other hand, is a more in-depth check, and it can have a negative impact on a person�s credit score.

Benefits of Credit Checks

The primary benefit of credit checks is that they help lenders to get a better understanding of a potential borrower�s financial situation. This is especially important for peer-to-peer lenders, as they are often lending out their own money and want to make sure that they are investing in someone who can pay it back. By running a credit check, Lendly can assess a potential borrower�s credit history and determine whether or not they are a suitable candidate for a loan.

Potential Drawbacks of Credit Checks

The potential drawbacks of credit checks are mainly related to privacy and the potential for inaccurate information. Credit checks rely on a person�s credit history, which can be inaccurate or incomplete depending on how the information has been reported. Additionally, since credit checks are a form of personal data collection, there are potential privacy risks involved.

Credit Score Impact

When it comes to credit score impact, it�s important to note that a soft inquiry does not have any effect on a person�s credit score. However, a hard inquiry can have a small negative impact, although this is typically only temporary. The impact can depend on the type of inquiry and the individual�s credit history, so it�s important to pay attention to the type of check being conducted.

Alternatives to Credit Checks

In some cases, it may be possible to obtain a loan without having a credit check. For example, some lenders may offer no-credit-check loans, or they may offer loans based on a person�s income or other factors. It�s important to note, however, that these types of loans may come with higher interest rates, so it�s important to do your research and weigh the pros and cons before making a decision.


Overall, Lendly does run credit checks on potential borrowers in order to assess their creditworthiness. These checks can help lenders to make informed decisions about who to lend to, and they can help potential borrowers to secure the loan they need. However, it�s important to be aware of the potential drawbacks of credit checks, such as privacy risks and inaccurate information. Additionally, there may be alternatives to credit checks that could be worth considering, depending on the individual�s situation.

People also ask

When it comes to credit scores, Lendly doesn't have a set minimum or maximum. People with all types of credit scores can apply.

Lendly is an online lender that offers small loans between $1,000 and $2,000. You don't need the best credit to be approved. Instead, your employment and income may qualify you.

Though it may be more challenging to find a lender that's willing to work with you, it is indeed possible to obtain a loan with a credit score of 550. Most lenders require a minimum credit score of between 600 and 650, but some lenders specialize in personal loans for those with lower scores.

How soon can I get my money? Once an approved applicant finalizes their application and signs their loan documents, funds from CCBank typically are deposited into your banking account the next business day. It may take up to 3 business days, depending on your bank's processing time after the funds are sent.

Recent Post
  • does-lendly-check-your-credit
    Does Lendly check credit? Find out in this post, which covers what Lendly does and how credit checks affect you.

    Lendly is a financial service that helps you get the money you need quickly and conveniently. Wondering if they check your credit? Absolutely! Lendly uses a soft credit check to review your creditworthiness and determine your loan options. With Lendly, you can get the cash you need without the hassle of a hard credit check. Get the money you need today with Lendly. ... Read More

  • does-lendly-report-to-credit-bureaus
    Does Lendly Report to Credit Bureaus? An Overview of Credit Reporting and Lendly

    Lendly is an online borrowing platform that allows you to get a loan quickly and easily. But does it report to the credit bureaus? The answer is yes! With Lendly, your loan activity will be reported to the credit bureaus, so you can build or maintain your credit score. Get access to the loan you need without sacrificing your credit score when you borrow with Lendly. ... Read More

  • 2000-loan-no-credit-check-near-me
    A guide to finding a 2000 loan with no credit check near you.

    Need a 2000 loan with no credit check? Look no further! We offer 2000 loans with no credit check and fast approval. Get cash in your pocket fast with our fast and easy application process. Our lenders are located near you so you can get the cash you need quickly. Don't wait any longer, get your 2000 loan with no credit check today! ... Read More

  • how-long-does-lendly-take
    How Long Does Lendly Take? - A Look at Processing Time & More

    Lendly makes borrowing easier and faster than ever. Get an answer in 60 seconds or less on loan amounts up to $50,000. With no hidden fees, no application cost, and no pre-payment penalty, you can get an answer in as little as 30 seconds and have your money in hand in as little as one business day. Get the money you need with Lendly, fast and easy. ... Read More

  • what-bank-does-lendly-use
    What bank does Lendly use? Discover the answer and learn more about their banking partners.

    Lendly is an online loan provider that allows you to apply for a loan in just minutes. All of Lendly's loan applications are processed through one of the top banks in the United States�Citibank. Citibank provides a secure and reliable way to process all of Lendly's loan applications, ensuring that all customer data is kept secure and confidential. With Citibank as its banking partner, Lendly is able to provide customers with quick loan approvals and unbeatable rates. Get your loan today with Lendly and bank with confidence. ... Read More

  • how-long-does-lendly-take-to-review-documents
    How Long Does Lendly Take to Review Documents?

    Lendly is a fast and secure way to review documents. Find out how long it takes to review documents on Lendly. Learn about the review process and how quickly you can expect to get your documents reviewed. Get the answers to your questions about document review times on Lendly and find out how you can make the process even faster. ... Read More

  • how-does-lendly-work
    How Does Lendly Work? - Exploring the Online Loan Platform and its Benefits.

    Lendly is a modernized lending platform that makes the borrowing process hassle-free and secure. With Lendly, you can submit your loan application, get a loan decision within minutes and have the funds deposited directly into your bank account. Lendly provides competitive interest rates, flexible repayment options and competitive loan amounts. With Lendly, you can get the money you need with a few easy steps. Discover how Lendly works to make the borrowing process easier and faster today. ... Read More

  • how-can-i-borrow-money-instantly
    How to Borrow Money Instantly: Tips & Techniques

    Need to borrow money fast? Look no further. With our fast and secure loan process, you can get the cash you need instantly. Our loan application takes minutes and you can get approved in a few hours. We offer competitive interest rates and flexible repayment terms to suit your individual needs. Get the money you need today, apply now and get your funds in as little as 24 hours. ... Read More

  • does-amazon-offer-loans-to-employees
    Does Amazon offer loans to employees? An outline of the pros and cons.

    Amazon offers loans to its employees through its Amazon Career Choice Program. The program offers employees access to low-interest loans to help cover the cost of tuition and other related expenses for job-related courses and certifications. Amazon also offers employees access to a range of additional benefits, including access to financial advisors, discounts on eligible purchases, and more. With Amazon's Career Choice program, employees can access the financial resources they need to pursue their career goals. ... Read More

  • lendly-loans-review
    Review of Lendly Loans: How does it measure up?

    Lendly is an online loan provider that offers quick and easy financing options. Our Lendly loans review covers the types of loans available, interest rates, customer service, and more. We'll also go over the pros and cons of using Lendly, so you can make an informed decision when it comes to borrowing money. We'll make sure you have all the information you need to make a confident and informed decision. ... Read More

IMPORTANT: The Operator of this website is not a lender, financial institution, loan broker or an agent of a lender or loan broker and does not make any credit decisions. This service, which connects consumers with eligible third party lenders, is free to consumers. This service does, however, receive payment from lenders for referring lead data to them. Although multiple factors dictate the order in which lenders have the opportunity to purchase a lead, the highest bidding lender will most often get the opportunity. Lenders may perform credit checks through any credit reporting bureau and may also verify the information that you provide on this form including social security number, address, phone number, employment history, bank account information etc. Information may be shared with non-lenders or other intermediary service providers (like us) to help you connect with a lender. This service works with many different kinds of lending partners, including tribal lending institutions. Federally recognized Indian tribes are independent sovereign nations and their wholly owned entities are generally not required to follow state and local laws regarding rates, fees and other loan related conditions. However, Indian tribes and their wholly owned entities are required to follow some applicable federal laws. If you are connected with a tribal entity, be sure to check their rates as they may carry higher interest rates when compared to state-licensed lenders. The Truth in Lending Act requires lenders to disclose rates, fees and other important conditions of a loan. After checking the terms, make a determination of whether or not you can afford the payments. We earnestly encourage you to reject any offer that is not within your financial means. Short-term, small-dollar loans are not a long term solution to financial hardship. You may also consider seeking professional advice regarding your financial circumstances and alternatives to loan products. Late payments of loans may result in additional fees or collection activities, or both. Each lender has its own terms and conditions. Please familiarize yourself with your lender<92>s policies for further information. Additionally, failure to repay your loan may carry nonpayment penalties and collection activities. Please review nonpayment terms with your lender directly. Every lender has a different renewal policy please review your particular lender<92>s renewal policy for more information. State Availability: Lenders that participate in the services provided by this website do not offer loans in every state. If you are from a state that the lenders do not service, you will not be able to be connected to a lender. Our service does not constitute an offer or solicitation for any loan products that are prohibited by state law. Additionally, this is not a solicitation for any particular loan and is not a loan offer.