LoanStart Personal Loans Review 2019

LoanStart  might be a good fit if:

If you are weighing the benefits of different types of loans or want to find the best one for you without filling out several applications, LoanStart’s website may be a good place to begin the process. Because this online service does not require any minimum credit score or annual income, potential borrowers who have trouble getting approved elsewhere may have a higher likelihood of finding a personal loan that they are eligible for through LoanStart.

LoanStart is can be a good fit for applicants across all ranges of credit and income brackets who are looking for smaller personal loans of up to $40,000.

About LoanStart

LoanStart is an online service that matches people with a wide network of affiliate lenders and lending partners. It is not a direct provider, but rather connects applicants to a variety of loans including peer-to-peer, personal installment loans and bank personal loans. This cost-free service does not impact applicants’ credit scores unless they choose to accept an offer.  

Rates, Fees: Because LoanStart offers a range of loans, any origination fees, late fees or check processing fees are dependent on the products that are offered to the applicant. Factors that will determine what kind of rates are offered to the applicant include credit history and score, as well as the type of loan and amount that is being applied for.  

LoanStart Personal Loan Review

Interest rates: LoanStart personal loans have a relatively low minimum starting rate, with APR starting at 4.84% and ranging up to 35.99%. Their interest rates are fixed, and applicants with excellent credit scores will be the most eligible for the lower APRs that LoanStart offers.

Cost: LoanStart offers amounts ranging between $1,000 and $40,000, with repayment terms ranging between 2 and 7 years. In addition, some of LoanStart’s partners have auto payment options.

How to Qualify for LoanStart: Due to the variety of loans that LoanStart offers, there is no minimum required credit score or annual income to apply. However, you must be a U.S. citizen, over the age of 18, be employed with proof of employment, have a valid social security number and have your own bank account.

Types of Loans LoanStart Offers: LoanStart works with third-party lenders to offer three types of personal loans, including peer-to-peer loans, bank personal loans and personal installment loans.

Loan example: A borrower with good credit who takes out a $10,000 loan with a repayment term of 48 months at 15.5% APR would make monthly payments of $280.85.

Benefits of LoanStart loans

LoanStart simplifies the application process by giving borrowers one form to fill out that matches them with any loans that they are eligible for. By offering three different kinds of loans, applicants who use the service are more likely to find a product that suits them, and can often compare multiple offers.

There is no fee, no minimum credit score and no annual income required to apply, so anyone can do so. In addition, applicants usually receive a decision within minutes and their loans can fund as quickly as the next business day.

Some of the personal loans have flexible repayment processes, with a maximum repayment term of 7 years and the possibility for an auto payment agreement, depending on the lending partner. LoanStart also has a customer service hotline that you can reach for assistance during any step of the application or lending process.

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How LoanStart Compares To Other Lenders

LoanStart vs LendingClub

  • LoanStart and LendingClub provide similar services, but some of their features vary. Let’s take a look at how they differ:
  • LendingClub’s loans have a higher minimum APR, starting at 6.95%
  • LendingClub has a shorter maximum repayment term, with terms ranging between 3 and 5 years
  • LendingClub requires a minimum credit score of 600
  • LendingClub requires a minimum 3 years of credit history
  • -LendingClub requires a debt-to-income ratio of less than 40% for single applications, or 35% for joint applications

» MORE: LendingClub Review

LoanStart vs Discover

Here are some of the ways that LoanStart and Discover, another big player in the personal loan industry compare:

  • Discover has a smaller range of loan amounts, starting at $2,5000 with a maximum of $35,000
  • Discover has a higher starting APR but lower maximum, with APRs ranging between 6.99 and 24.99%
  • Discover requires a credit score of 660 or above
  • Discover requires a minimum annual household income of $25,000
  • Discover offers the option to pay creditors directly
  • Discover loans come with a 30-day money-back guarantee

» MORE: Discover Review

LoanStart vs Backed

LoanStart and Backed offer loans with comparable features, but here are a few aspects that differentiate the two:

  • Backed has a smaller range of loan amounts, starting at $3,000 with a maximum of $25,000
  • Backed has lower APRs, starting at 2.9% with a maximum of 15.99%
  • Backed takes longer to fund, with a typical wait of 2-4 days
  • Backed is only available to borrowers who live in Arizona, Arkansas, Florida, New Jersey, New York or West Virginia
  • Backed is better for applicants with co-signers
  • Backed has a shorter maximum repayment term, ranging between 1 and 3 years

» MORE: Backed Review

LoanStart vs Earnest

Let’s take a look at how LoanStart and Earnest stack up:

  • Earnest offers higher loan amounts, starting at $5,000 with a maximum of $75,000
  • Earnest has a smaller range of APRs, starting at 6.99% with a maximum of 18.24%
  • Earnest has a shorter maximum repayment term, with terms ranging between 3 and 5 years
  • Earnest requires a minimum credit score of 680
  • Earnest requires that applicants have no bankruptcies in the past 3 years
  • Earnest is only available to borrowers who live in the District of Columbia or a state outside of Alabama, Delaware, Kentucky, Nevada or Rhode Island

» MORE: Earnest Review

LoanStart Pros and Cons


  • Easy, fast and cost-free online application process
  • Possibility of next-day funding
  • Lower annual percentage rates for borrowers with excellent credit
  • Three different types of loans and several loan providers
  • Possible auto payment with certain loans
  • No minimum credit score or annual income required to apply


  • Only borrowers with the best credit scores are likely to be eligible for the lowest rates through LoanStart
  • Lower maximum loan amount of $40,000
  • Applicants are limited to LoanStart’s lending affiliates


If you’re shopping around for loans and are not sure what you’ll be approved for, LoanStart is a good place to begin your search as you can complete one application to potentially receive multiple loan offers. It’s a particularly helpful service for borrowers who have low credit, as LoanStart does not require a minimum credit score or annual income to apply. Their wide variety of loan types, amounts and rates simplifies the lending process and ensures a higher chance of approval for borrowers across the board.

If you’ve been considering using LoanStart, the application is free and takes just a few minutes. While their service can provide you with many different lending options, make sure to take the time to evaluate the details of each offer before accepting one.  

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The offers that appear on this site are from third party advertisers from which PrimeRates receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). PrimeRates strives to provide a wide array of offers, but our offers do not represent all financial services companies or products.

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