Frequently Asked Questions.

Any Questions? Speak to one of our friendly representatives


What are the eligibility requirements?

You are eligible for a Loanosity personal loan if you meet the criteria below, in addition you must also meet our underwriting criteria to obtain a loan from Loanosity.

  • You are at least the age of majority in your state and able to enter into a binding contract.
  • You are a US citizen.
  • You must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days.
  • Loan eligibility depends on a number of additional factors, including your financial history, credit score, and monthly income vs. expenses.

What can a debt consolidation loan be used for?

Debt consolidation loans are typically used by people who have multiple forms of debt which have different interest rates and repayment dates. Consolidating these into a single loan can potentially result in a lower interest rate & makes budgeting or financial planning far less confusing.

What debts can I consolidate?

A debt consolidation loan allows you to consolidate credit card debts, medical bills, car loans and other unsecured debt – making life easier and helping you to pay off your debts faster! For many, debt consolidation can bring financial freedom and peace of mind.

What repayment options are available?

Repayments are made in monthly installments. Personal Loan repayments are calculated depending on your choice of 24, 36 or 48 month terms with the interest rate you receive on approval of your loan.

How much can I borrow?

Loanosity’s unsecured debt consolidation loans range from $5,000* to $30,000 with flexible loan terms of 24, 36, or 48 months.

*$6,500 in Massachusetts.

Is the Loanosity personal loan secured or unsecured?

The Loanosity Loan is an unsecured loan. This means that you do not need to provide collateral for the loan.

How long does it take to receive the funds?

Once your application is complete and verified, if you are approved for a loan, you will receive a Loan Agreement for electronic signature. Once you’ve signed the document electronically, we will give you a call to confirm your address and then your funds should generally be available within a few days.

How are funds disbursed?

Funds are sent directly to your personal bank account under your name. You are responsible for paying toward the purpose of this loan thereafter.