A LoanWell loan for $10,000.00 at an interest rate of 1% with a 36-month term would save $0.00 in interest paid and reduce your monthly payments by $0.00/mo.
|Current Loan||LoanWell Loan (Savings)|
|Total Interest Paid||$0.00||$0.00 (+$0)|
|Monthly Payment||$0.00||$0.00 (+$0/mo)|
|Interest Rate||10.00%||1.00% (+0.00%)|
|Term in Months||36||36|
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What is LoanWell?
We are a lending platform that helps you save money by financing with your community - who earn the interest instead of the bank.
Am I Eligible?
Yes! Unlike most lending platforms that have credit requirements, we strive to help everyone find cheaper financing from within their network.
What if my community or network doesn't have a lot of disposable income to lend?
We've worked really hard to make the platform as equitable as possible. One way we've done that is through crowdfunding, where you can invite several people to lend small amounts of money to sum up to your total need (i.e. $500 loan from 10 people = $5,000).
What if I can't get the total amount I need from community?
We've partnered with several third-party lenders to help provide the additional capital you need in the event you are not able to raise your total amount from your network.
How much does it cost to use LoanWell?
Check our most up to date pricing here
What’s the catch? Are there any hidden costs?
When it comes to money, we believe that no one should feel confused or misled. We want to be upfront about our costs so that our customers can focus on getting the support they need from our system.
Check your email for information on how to get started or you can start right now by clicking the button below.