A Lending Bear Review:The Fairest Installment Loan Provider Available?

Lending Bear is only available in the following states:

Alabama
Georgia
Florida
South Carolina
Tennessee

Why get an Installment Loan from Lending Bear?

You can access an installment loan here regardless of your credit rating, which isn’t often the case with financiers. If you have a poor or nonexistent credit history you won't be turned away, and this won't factor into deciding your interest rate. Indeed, interest rates are the same regardless of any factor other than the amount that you choose to borrow.

This financier prides itself on offering ‘fair’ loans, and you can complete your application and receive your funding very quickly. Most transactions take less than 15 minutes.

What does Lending Bear offer?

The minimum loan amount that you're able to take out here is just $200, a decently small sum that should enable those with desperate, small financial needs to rectify their situation. You’re able to borrow up to $1,000, but the amount must be a multiple of 100 (i.e. $400, not $380).

Eligibility Criteria

You can apply here regardless of your credit rating or income, they won’t even be checked. You’ll have to prove that you're employed in some way, however. You’ll need to be a legal resident of one of the above-mentioned states, with a state-issued photographic ID card, for example, a driver’s license, and if you’re under 18 or an active military member you won't be able to apply for a loan here.

How to apply for a Lending Bear Installment Loan?

Applying for a loan here is a simple affair, and can be done either online or in-person in a branch, Those who apply in a branch will receive their money much more swiftly. To apply online, simply head to the website and click ‘Apply’. You’ll be taken to a form where you’ll need to enter your location, some personal details, and your loan request, and once this is completed you'll be contacted with a loan offer.

Rates, Terms, and Fees

There’s no mention of fees with this provider, but you shouldn't take this to mean there are none, and should instead enquire about this when applying. Some states have different term lengths, but the average is a period of two to 18 months. A $200 loan will have an APR of 153.95%; borrow $1,000 and you’ll pay 76.83% on it.

Bottom line

Lending Bear makes an offer of quick cash regardless of credit rating with a fairly expensive, but not an astronomical, interest rate. However, as many states are ineligible, and there are cheaper options, it's difficult to recommend this provider.

You might want to try SoFi instead. While there’s a minimum credit score here, you can use a cosigner to get around this issue, and the APRs start at just 5.99%.