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Lendvia Financial is a firm that assists individuals in obtaining loans by connecting them with lenders. They provide debt consolidation and installment loans from their network of lending associates. They promote their services on LendviaFinancial.com , where applicants can submit their applications. Lendvia collaborates with lending partners to initiate loan processing.
Overview Of The Company
Lendvia Financial serves as a mediator linking individuals seeking debt consolidation loans with lending partners. Although they do not directly offer loans, their “Loan Coaches” can assist borrowers in selecting the most suitable loan option and offer support throughout the application process.
Lendvia Financial presents itself as a financial well-being organization that assists its clients in creating a plan to get back on track, as advertised on its website. Since 2019, Lendvia Financial has operated from 15303 Ventura Blvd. Suite 1190, Sherman Oaks, CA 91403, and can be reached via [email protected] or by dialing 888-699-3080.
This business uses customized mail promotions to connect with potential clients. You might have gotten a letter in the mail that was personalized for you and included a message like the following:
We became intrigued by this proposal and therefore chose to investigate whether it lived up to its promising appearance. The following is what we discovered.
- Interest rate: Their lending partners offer fixed rates of 4.99% APR.
- Loan amount: They advertise loans from $5,000 to $100,000.
- Approval: Although they can assist you in choosing the right lender for you, they cannot guarantee you will get approved.
- Repayment terms: They will typically range from 1 year to 5 years.
- Your information: Since they are not lenders, when you apply for a loan you consent to your information being shared with third-party providers in their network.
How does Lendvia work?
Lendvia offers access to unsecured installment loans. Here’s how Lendvia works:
1. Application process with a “Loan Coach”
You can consult with their Loan Coaches, free of charge and without any obligations, to help you complete the application process. This process includes providing your personal information, detailing how much debt you have, sharing your credit score, and letting them know whether you are behind on any payments.
By submitting your information, you agree that their lending partners may contact you by phone, text, or email using any of the contact information you provide now or in the future. This includes any dialing system, prerecorded voice messages, or automatic dialing device.
2. Choosing a lender from their network
Once you have completed the application process, your information will be sent to Lendvia’s lending partners to find a loan that suits your needs.
3. Reviewing your loan terms
Before you sign any documents or begin the loan process, be sure to review your terms, verify your information, and read the fine print carefully. This will help ensure that everything goes smoothly and avoid any potential problems down the road.
Is Lendvia Financial a Lender?
Lendvia Financial is not a bank but rather a financial institution that collaborates with lending partners to provide loans. While they do not have a banking license, they have access to a network of trusted lenders to originate loans on behalf of their clients. This means that Lendvia Financial can offer a variety of loan options to suit the needs of their customers.
By working with lending partners, Lendvia Financial can streamline the loan application process, ensuring that their customers receive timely approvals and funding. Overall, Lendvia Financial’s partnership with lending partners allows them to offer a broader range of loan products while providing a high level of service to their clients.
What Are Debt Consolidation Loans?
Debt consolidation loans are loans that are used to pay off multiple debts at once. Instead of having several different debts to manage, a debt consolidation loan combines them all into one loan, with one monthly payment. This can be a great option for those struggling to keep up with multiple payments, as it simplifies the repayment process and can often offer a lower interest rate than the combined rates of the individual debts.
However, it is important to note that debt consolidation loans are not a solution for everyone and should be approached with caution. It is important to carefully consider the terms and fees of the loan before committing to it, and to make sure that it is a viable solution for your specific financial situation.
Upon conducting research, it appears that Lendvia Financial is a genuine company and not fraudulent, despite lacking a record with either the Better Business Bureau (BBB) or the American Fair Credit Council (AFCC).
Lendvia BBB Rating
Lendvia Financial doesn’t have a BBB profile, which means that there is no rating available for the company’s reputation and reliability. BBB ratings are determined by various criteria, such as the company’s track record, customer grievances, and how effectively the company has addressed those grievances.
FAQs about Lendvia Financial
What is Lendvia Financial?
Lendvia Financial is a financial technology company that serves as a mediator between individuals seeking debt consolidation loans and lending partners. The company partners with lending institutions across the US to provide customers with access to fast, affordable, and customized financial solutions even for individuals with poor credit scores.
Is Lendvia Financial a direct lender?
No, Lendvia Financial is not a direct lender. The company works as a mediator linking individuals seeking debt consolidation loans with lending partners.
What types of services does Lendvia Financial offer?
Lendvia Financial primarily offers debt consolidation loans, personal loans, and refinancing options. The loans can be used for a variety of purposes, such as credit card debt consolidation, home improvement, emergency expenses and others.
How does the Lendvia Financial application process work?
The application process is quick and straightforward, and it is done via Lendvia Financial’s online platform, where a user selects the loan amount, term and other information and submits an online form. After assessing the user’s information, the platform will match the user with personalized offers from its lending partners.
What are the eligibility requirements for a loan or other financial products offered by Lendvia Financial?
Each lending partner may have specific eligibility requirements which may include creditworthiness, debt-to-income ratio, and other factors. Typically, users should have a credit score of at least 600 to be eligible for a debt consolidation loan.