Payday loans are expensive and lead borrowers to greater debt in the end. LendFu has a fundamentally different approach to Payday lending.
With 0% interest, flat fees and peer-to-peer lending, LendFu enables individuals and non-profit lenders to help borrowers build personal financial health and stability.
LendFu is a trusted community Peer-to-peer Lending Marketplace providing a socially responsible peer-to-peer alternative to payday loans.
Borrowing in LendFu always comes with 0% interest, a low total cost, easy to use flexible payment rescheduling terms and no cost to request to borrow.
LendFu costs you less for two simple reasons
1) We are not paying interest and fees to borrowing money from a bank to lend out
2) Technology and automation are used to reduce cost and save time
A $300 payday loan cost borrowers on average $459 in fees for a total repayment of $759 over 5 months
At LendFu the equivalent total repayment would be only $371
We wanted to enable people to help others in need of a small amount of credit, as we have done countless times for friends, family and employees.
We think everyone should be able to do the same, simply and fairly, with no interest; just a set price and date to pay.
LendFu Marketplace was initially created as a project to automate small dollar peer-to-peer lending for smartphone users by selling and distributing gift cards with a simple pricing. LendFu has been growing and evolving since, bringing borrowers, lenders and non-profit lenders together and providing more options for credit and payments.
Our mission at Social Lending is to help all Americans have access to
low cost credit when they need it most
Facts about LendFu
- LendFu is NOT a payday lender , broker, check casher; we are a Marketplace
- LendFu does NOT Lend money - individual members and non-profits lend
- LendFu will only support Small amounts and Short terms
- Yes, our logo is a dollar sign between the Yin and Yang
- Founded by technology entrepreneurs in Silicon Valley
- Founded in San Jose, Ca in March 2013 as Social Lending Fpc
- LendFu is a service from Social Lending Fpc - a California Flexible Purpose Corporation