Lemon LoanBy Flash Cash 101 Lending Corporation
The Lemon Loan application is a leading and reputable financial support unit in the market. By providing valid documents and meeting the necessary requirements, you will have a high approval rate for the loan contract. Your loan amount will be disbursed quickly with an appropriate interest rate. Financial difficulties are no longer a concern when you choose Lemon Loan.
Things to know about the Lemon Loan application:
It is a fast and convenient financial support application. You only need to operate it on your smartphone without the need to visit the lending institution directly. Currently, the institution supports loans for various types of individuals. You only need to meet the criteria of the application, and the loan approval rate can go up to 90%.
To qualify, you need to ensure the following factors: age between 18 and 60, have all the necessary personal documents such as ID card, phone number, and bank card. When submitting your application, you will receive loan amounts ranging from PHP100 to PHP20000. Depending on the creditworthiness and the number of loans taken by each customer, the loan amount will vary.
The interest rate in this application is quite high. You will have to pay interest up to 24% per year. Along with the “sky-high” interest rate is the short repayment term. You will have to repay the loan within a period of 3 to 4 months. Therefore, loans in this application are often not suitable for customers who cannot repay the money within a short period of time. Therefore, you should carefully consider when choosing to borrow money online from this institution.
How to increase your chances of successful loan approval
Even though there is a high disbursement rate, not all loan applications will be approved if they meet the requirements. Therefore, to increase your chances of success in your first online personal loan application, consider the following tips:
- State a higher monthly income than the actual amount. Provide a salary amount above PHP200 to ensure a higher approval rate.
- Ensure that all personal information provided in the application is accurate.
- For cases with no bad debt history and no previous online loan applications, the approval rate for the loan application will be higher.
- Supplement your application with additional phone numbers and contact information of relatives to facilitate faster assessment and better approval of your application.
Once your loan application is approved, the lending institution will start disbursing the loan. Typically, you will receive the loan amount within approximately 2 hours. The latest disbursement time is within 24 hours.
Note: The information provided is based on general experience and may vary depending on the specific policies and procedures of the lending institution.
Steps to Borrow Money from Lemon Loan:
Similar to other online financial assistance applications, in order to borrow money from Lemon Loan, you need to download the app on your phone and create a personal account to complete the profile.
Provide complete personal information such as full name, phone number, bank card details, and identification number.
Take a clear portrait photo as requested on the app.
The submitted profile will go through a system evaluation and approval process.
The loan agreement will be sent to customers whose profiles meet the requirements for signing.
The money will be transferred to the bank card within approximately 2 hours after disbursement.
Customers are responsible for repayment.
When applying for an online loan, customers must ensure timely payment. In the case of late interest payments or principal repayments, the company will handle it accordingly.
In the event of late payment, please contact the lending system. Depending on the loan amount, the system may grant a short extension. This loan extension can only be applied once. Customers who are consistently late in loan repayment may face difficulties in future loan applications on the platform.
Questions about the Lemon Loan App:
Based on the information provided above, we often receive some frequently asked questions from customers regarding the Lemon Loan app. Let’s answer the following questions that people are particularly concerned about.
What is the loan duration in the app?
This app supports relatively short loan durations. Each loan term for repayment ranges from 7 to 30 days.
Does the app support borrowing for individuals with bad credit?
Currently, Lemon Loan still supports customers with bad credit. People can confidently apply for a loan. However, the approval rate for successful loan applications may be lower compared to other cases. Additionally, the loan amount will also have a lower limit.
The Lemon Loan app provides quick financial support. You will be able to proactively complete the application process without spending too much time on preparations. However, this online loan app is only suitable for customers who need small loans and have the ability to repay quickly. The high interest rate is an important point to consider when deciding to borrow money through this app.