The Loan Exchange Review

The Loan Exchange at a Glance  

Loan typesPersonal loans, debt services
Loan amount$2,600 to $100,000
Repayment terms   2-180 months
APR​13.33% - 184.36%
Best forAll credit types

Visit The Loan Exchange


Started in 2017, The Loan Exchange is one of the newest members to enter the field of private lending, and it’s already making waves. It caters to borrowers who don’t have excellent credit, that might have been rejected for a loan by other providers or might not have ever bothered trying. With generous terms, an easy to use online application process, and great comparison shopping, The Loan Exchange is an obvious choice for a lot of borrowers.

What’s also great about this company is the fact that it spells everything out for you so clearly. Most lenders have heavy websites with loaded terminology and confusing jargon, so it’s a welcome change to find a lender with clearly stated policies, terms explained, and policies that are easy to understand.

Best For?

The Loan Exchange is a good service for several borrowers including:

  • People who have poor credit
  • Anyone who can’t/didn’t get approved for a loan elsewhere
  • Borrowers who don’t have time to shop around for multiple offers

Range of Loans on Offer

The Loan Exchange offers several types of loans, including business loans, personal loans, mortgages, and debt repayment and consolidation services. It connects borrowers with a large network of lenders, so you have a lot of options when you use this service. What is really convenient is that, because it is a lending marketplace, you'll receive multiple offers from various lenders from one application form. Here are some highlights from The Loan Exchange:

  • Works with people who have really bad or no credit
  • Fast application process
  • Pre-approval so your credit score isn’t reduced
  • Clearly explained financing services
  • Opt-out policy for affiliate marketing sharing

Pros and Cons

Get cash in as fast as 3-4 hoursNew to the industry
No Prepayment PenaltiesShares information with affiliate marketers (unless you opt out)
Minimal documentation requiredDoesn’t cover all areas
Can use money for any purpose 

The Application Process

Part of the beauty of using this online service is the application process. For one thing, The Loan Exchange has an easy online application form that takes a few minutes at most to complete.

In order to apply for a loan you’ll need to meet the following requirements:

  • Credit score above 500
  • Must have a checking account
  • Must be working and be able to prove income with bank statement/recent paystub/proof of self-employment
  • Must be 18 years of age with a valid ID, such as a driver's license

Here’s the basic rundown of how the application works:

  • You start by filling out some basic information like your name, phone number, and email address. You’ll also fill out whether you own or are interested in owning a home and a few other details.
  • Once you’ve filled out the questionnaire (about 10 seconds), you’ll get preapproved for a loan. This is an added bonus that many lenders don’t offer.
  • After providing some more detailed information such as bank information and income data, you will be sent offers from lenders that fit your criteria and are willing to fulfill your loan.

The excellent thing about this process is that you:

  • Get to reach several lenders with one application form
  • Get customized offers and even offer bundles to fit your requirements
  • Can get pre-approval so that your credit score isn’t affected

Additionally, you can have the money transferred to your account on the same day. That’s not something you will find from too many other online lenders.

How Much Can You Borrow?

Another aspect that makes this company stand out is its borrowing parameters. The Loan Exchange offers a wide range of loan options. You can get as little as $2,600 or as much as $100,000. This is a tremendous range, and it makes this service a convenient option for people looking to borrow money for almost any reason whether it’s to fund an event, wedding, or investment or simply make a purchase they don’t have the cash for up front.

Repayment Terms

The Loan Exchange offers some of the most flexible repayment terms available on the market today. You can take up to 180 months to pay back your borrowed money, though you don't have to. In fact, many borrowers pay off their loans much faster. One of the biggest benefits of The Loan Exchange is that unlike most lenders, it doesn’t charge a prepayment penalty fee—a fee that is charged when a borrower pays back a loan earlier than agreed upon in their contract. The reason lenders charge this fee is that they are losing out on the interest you'd be paying if your loan went through to full term. Instead of collecting the interest, lenders charge you a prepayment penalty. The Loan Exchange, however, does not charge this fee, a generous offer to say the least.

Privacy & Security

The Loan Exchange uses cutting-edge security measures to ensure your information is kept safe at all times. These practices include data encryption for safe transactions on the website, computer safeguards, and secure file storage, both electronic and physical. All of The Loan Exchange security practices comply with federal law.

Help & Support

The Loan Exchange customer service can be reached during regular business hours, which are Monday through Friday 8am to 5pm (PT). Alternatively, you can send a message via the online contact form or through any of The Loan Exchange's social media handles, including LinkedIn, Twitter, and Facebook.

The Loan Exchange also has a detailed blog that helps people with financial decisions, gives financing advise, and explains things even further. The Loan Exchange really earned big points for financial education.


The Loan Exchange is a great option for anyone who has been having a hard time getting approved for a loan. The service works with poor credit scores, and the preapproval process means you can see if you are eligible without having to touch your credit report. The wide network of lenders ensures that borrowers will receive competitive rates and an easy way to compare offers in an instant. Additionally, The Loan Exchange offers a multitude of financing options including personal and business loans that come with attractive terms, allowing borrowers to pay back their loans in a reasonable amount of time without stress on their finances. Some borrowers may not appreciate the short time this company has been in business, but if you can deal with a startup way of thinking, you will really enjoy working with The Loan Exchange. Check out its social media pages or contact The Loan Exchange directly to get more information on this reliable lender today.

Physical Address

333 City Boulevard West

Suite 1700

Orange, CA 92868


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