Lenme: Investing and Borrowing Reviews

I like Lenmo in general, it is relatively easy to use and I’ve been using it for a few months successfully. I’ve funded and had repaid several loans. However I often have errors with Lenme and customer service is not super responsive- it often takes days to have issues resolved. I also wish Lenme had a way to keep track of transaction history. For example being able to see when your lenmo account is funded, when and how much is paid out, when and how much is refunded. It will give notifications when a loan is funded and repaid but I would like something more like the transaction record of a bank account where I can the deposits and withdrawals. Also recently I didn’t receive notification of a repayment until a week after it was due- I don’t know if payment was late or lenmo was delayed in showing the notification- I would like to know so that I know whether I should be following up with lenmo about receiving my half of a late payment fee. I wish Lenmo was more transparent about where your money is and what is happening. When payments are late- are they collecting a late fee, are they making other attempts to collect, have debts been sent to collections, breaking down what’s been paid and when, keeping a running account balance. I expect these issues stem from the youth of Lenme , that improvements will come as Lenme becomes more established. I will need to take a break until current issues are resolved but I hope to be back. 🤞

I like the UI. It’s very customer centric. However, the actual human service is Not very customer focused despite nice bells and whistles that Lenme has. It’s gets lost quickly in the face of bad customer service. Upon iD validation, I was told that “passports were not an accepted form of ID.” Well I was taken aback by this ridiculous assertion. Of course passports are a valid form of ID, I thought. The agenda explained that it was their vendor that had this policy, and told me in a way that was matter of fact and final. I didn’t take kindly to this as it is my expectation that customer service always try to help to the level r then at they ate empowered to. The very best will find a way to go beyond their level of empowerment. That it was just expected that I take this info and move on was a little insulting to me. Their vendor Clearly needs to understand what forms of ID are legal and valid and must be accepted and can’t be turned away because, idk, they lack the technical skills to build an ID scanner that accommodates the size of a passport (I hope it’s not that embarrassingly simple?)? Bottom line, it’s unfortunate that my initial pleasant interaction with your app was soured by a human that didn’t want to or didn’t want to be of true help rather than just fielding questions and reading back from a script which was the true disappointing issue. I still have high hopes, though. We’ll see.

It’s a very pretty app, the UI looks great! The problem is, absolutely nothing works. Want to borrow money, you’ll need a $0.99/month subscription. But what does that subscription actually get you? Nothing. Nada. Zilch. You sign up for it thinking now you can apply for a loan, but when you go to that section again, it wants you to subscribe. Click the button to subscribe and your iPhone will tell you that you already have! It’s an infinite loop from there. Contacted support over a week ago for this issue, never heard from them. So that’s 1 out of 2 functions Lenme is supposed to have but actually doesn’t.

The next function is that you can be the one to loan out money, sounds great, right? Sure! If you could actually load money onto Lenme . Heck, people have been complaining that they can’t even get their banks to connect. I was lucky to be able to do that, but when I click the button to transfer money, the screen shades grey for 0.25 seconds before it returns to normal. Absolutely nothing changed. Of course, I contacted support; stupid me! Never heard back.

TLDR: Don’t waste your time and mental energy on this fancy tech demo of what this type of thing would look like. It doesn’t actually work. I’ll give this a week before I report Lenme to Apple for being useless and not delivering on what is advertised.

I was looking for a p2p investing platform that allowed be more control and did not require $1000 initial investment. Lenmo seemed to offer this, but maybe the high ROI was too goo to be true. With this in mind I deposited $110 to try it out. To my surprise both investment were successful and deposited to my chase account 1 month and 8 days after the investment. Since that successful 20.1% ROI I received in a little over a month I have since deposited $450 and am hoping to utilize Lenmo money making potential.
The only negative that I have is there is some gaps in knowledge after you make a loan offer, accepted, and then completed. If there was a feature or tacking system that would give more information beyond an email would make the process more personal and would give me more comfort.
I hope the ROI continues but as Lenme becomes more popular it will cause more money to come into Lenme pushing rates down. Until then I plan on using Lenme regards of any positive changes for the time being.

I downloaded Lenme because, obviously, I need some extra cash right now. everything went so smoothly in the beginning, I had just submitted a loan request and gotten an offer! all I needed to do was add my bank info, and after about an hour of trying and failing to connect one bank account I finally gave up and connected my other one. so after all of that was done, I went and accepted the offer. it takes you to a second page where you have to push the “accept offer” button again. okay, no problem. well, I’ve pressed this button probably 1,000 times and nothing happens. so I think, go check your bank info and see if it was added. when I go to the link for your bank info and click on it, it brings me to the page but it’s just constantly loading. this has been going on for about 12 hours, I thought that if I just left it alone and waited that it would load but I was wrong. I decided to cancel the request I made and make a new one, but of course that didn’t go well either only this time because my SS doesn’t match my last name or something? I’ve had the same last name my entire life, I’ve had the same SS for my entire life, and when I first signed up I didn’t get an error message about that at all. please fix your app and tell me how to delete my account because this is complete bull.

Have been trying to use Lenme probably for the last 2 months. However, whenever It came time to “Request a loan” each time it said that my request couldn’t be completed and to reach out to support.
I must have done this about 8 different times trying to reach out to support to see what the problem was. They only answered me TWICE in the 8 times I have reached out in the past 2 months. The first time was right after I made the account and we emailed back and forth a couple of times, she asked me for a screenshot of what I was seeing, I sent it and then never heard back from her.
The next time they FINALLY answered was just this last week, but of course their answer to me really was NOTHING about fixing my account, and they only answered me about the second part of my question to them which was needing help switching my connected bank because I had recently switched banks. They answered that that can’t be done for whatever reason, and of course NOTHING about fixing my account as to why I can’t request a loan or go forward with seeing the loans that are available as it is a “peer to peer” loan system.
So at this point I am DONE trying to use Lenme, if you need any help whatsoever using Lenme, good luck trying to get ahold of anybody. Cuz the support for Lenme is AWFUL.

I tried setting up an account to borrow and was met with an error that said “please contact support”. I went ahead and sent out the request ticket and was met with a response that nothing could be done for me because, “Unfortunately, our security verification partners we’re unable to verify you with the information you provided“. At that point I was confused Because I had literally submitted everything from my SSN and my Drivers License what else more can I do to prove that I AM ME??? As confused as I was I emailed back asking what else I needed to do in order to fix this, I would like to use Lenme if possible and if I need to resubmit photos of my ID I can certainly do that but to sit here and tell me that I’m not ME is ridiculous. The worst part about this is that after I responded to the first email I never got a reply back… I literally forked over the .99 cents to use the borrow feature just for them to say “sorry we can’t verify you and we also can’t help you, better luck in the next life” like what?? I normally wouldn’t be this upset but the fact that there wasn’t even an attempt to help me just pisses me off. At this point I really don’t want to use Lenme anyway since it seems that if I ever encounter other issues I’ll surely be screwed over.

After doing tons and tons of research about peer to peer lending and reading about each and every single app + reviews , I decided to go with your app. Heard nothing but amazing things except for the customer service not being top notch. So after entering all my info and praying I got accepted I did. Finally added my bank account. In which my bank account + my income and qualifications met each and every requirement ( the whole process took about a month or so for me to do ) my account verified , im excited about being able to finally apply for a loan and boom my heart breaks a message pops up “ saying basically there’s to many people asking for loans , they need to be taken first “ which nothing the whole time or emailed , nothing about this was brought to my attention. So after all this time trying to get my account together , I can’t use your website. Which to me was disappointing because not only was I not told any of that! Nothing was emailed , no warning , nothing.
I really want to use your website so bad! I’m doing this comment because I’m hoping someone will read it and get back to me. Although I would love to win the $100 , I would be happy with just a reply back and able to use your site.
Thanks for your time!

I registered for an account and received a “verified” by all possibly required profile information I provided. Unfortunately, when attempting to get my rates (which I guess is the first step in the loan application process) I keep getting a message that tells me “cannot process at this time... contact customer service”. I expected that since the message gave me no other direction, I would receive that once I contacted CS, but no... instead they tell me to verify everything on my account or to get in touch with my bank??? Why would my bank know why your app is not working for me? Is it my credit? My documents not acceptable? No available loans? Some direction and actual customer support would do Lenme wonders! With the lack of support, no direction within Lenme to walk you through the processs and what requirements are expected, etc., Lenme is starting to feel like a scam where they collect all this personal info on a bunch of individuals, while issuing select loans to seem legit. I have emailed the company asking to remove my personal information since I cannot get in touch with any legitimate support staff outside of one vague response on a CS ticket I put in. My advice, DO NOT USE Lenme!!!! Not worth the anxiety...

Lenme is a life saver. It just need some updates. The banking function should give the option to change primary accounts . I only say this because the customer service is horrible . Like bad . Just bad. The response time should be quicker since you are sending money out to random people. I had a closed account as my primary and of course I changed it to my open banking account ,It is still taking customer service time to send me a message back about them just changing the primary bank . That should be the easiest thing. That banking function is a problem because you can’t delete banks. If you haven’t had a loan approved you should be able to switch the bank or at least set the primary bank when you need it since the experts are just not helpful. BUT, this is a good app. Just a little clunky on some parts . Customer service response time needs to be better. It is a 5 star app because once you are approved you get money . I am rating you a 3 star app because of your horrible customer service . I should rate Lenme 2 stars because when a loan request is canceled this app never connects you to another investor you have to wait the 30 days . But for today 3 stars .

Nice app though easy enough to useful youre allowed too of course. I don’t have license I have a valid passport in there eyes I am not a real person odd… I did assume the federal photo ID would you know out rank a state ID as far as legitimacy to get a license you have a birthday and pass a silly test to get a passport you send all of your stuff Proof and verification directly to the federal government who verifies it how they do it takes weeks not a couple of minutes and some spam mail…. Something in my humble opinion does not feel right about that. Yes my opinion is biased but you do realize how difficult it still is to go the dmv in most areas… fun. Can’t wait for your license to expire and then see how it’s so easy to get a new one or a state ID because it isn’t and you are unreasonable for that, again in my humble opinion as is this entire review. My personal opinion.

I downloaded Lenme because I was considering taking out a loan for financial reasons. I first requested a loan then asked myself if this is actually legit so I went on the apps page and come to find majority of the reviews 1 star, most of them stating how it took too long, or how the customer service was bad. That wasn’t the case with my loan! 6 days ago I requested a loan and yesterday I got a notification stating my loan was fully deposited, as I check my bank account I noticed nothing was different... okay.. so I then write an email to the Lenmo team and they responded within 3 hours! Stating my lenders transaction was successfully initiated and it will only take 1-2 more days. And come today! It came in. I see at first when Lenme launched, yes it had problems but it’s apparent with the service I’ve received that they may have fixed a lot of those problems. Highly recommend.. was better and easier than applying for a loan at a branch.

So I went into the borrower sections and asked for a $100 loan as soon as I downloaded Lenme . Not even within two hours of having been approved it’s my information validated somekne offered me a loan. I didn’t really look too much of the deal but it did seem like the interest rate was low and I hadn’t really looked at Lenme to compare. Well the person who very quickly sent me a loan offer suddenly wouldn’t approve the final paperwork. As soon as several hours had passed and no sign of this person I knew I’d gotten trolled. This individual basically just goes around offers people a loan but never actually signs off the paperwork and so you’re stuck for 48 hours without the ability to sign in rk another loan. Sure enough it’s been over a week now and I have no sign of getting ay type of loan anytime soon. Customer service was awfuI asked them to please cancel the loan because this person is trolling people and they neither cancelled it nor looked into said individual who I’m almost positive just goes around and does this to people. If you’re new and you get a loan offer from CG don’t take their offer.

I tried Lenme both as an investor and a borrower first red flag I had I did 3 loan all where supposed to have been paid with in 30 days it ended up being almost 60 days before I got my first loan paid back and I wasn’t compensated the late fee and every time I tried getting a hold of customer support I keep getting the same generic email and I do get there is some risk involved but come on then I tried the borrowing portion just to see how that faired and if your someone who can’t get a loan the traditional way this may help you if Lenme will ever work I gotten an offer to borrow on a loan and it said you got an offer I accept it then the investor backed out then it said I had another offer and it’s the same page I had before with the previous investor that showed I had a new offer and the old expired one was still there and when I messaged customer service I get an email saying no new offer when I’m looking right at the screen on Lenme saying I can accept it all in all I’ll stick with the traditional way of lending this was a good idea but broken software and no reassurances on both sides it’s too easy to loss out on money with Lenme

I found Lenme literally at the time I needed it the most. I wasn’t sure about if it actually worked or if there was a catch, but it DOES WORK and THERE IS NO CATCH! I needed diapers and formula desperately. I made a request for $50, chose how much I wanted to tip the person who would loan me the money and then chose the date that I could pay it back. Within an hour, I got a notification saying someone loaned me the money! It’s literally a MIRACLE APP! I paid the money back a few days earlier than my chosen date and now my request amount is $100. As long as you pay the people back within the time frame that you give (it’s all on your terms), your amount that you can borrow goes up by $50! I am SO grateful for Lenme and the people who are kind enough to loan their own money to people like me who really need it. 100% HANDS DOWN RECOMMEND GETTING Lenme! Trust me, you will NOT regret it!

I recently downloaded Lenme as I had hit a small little road bump in life and was short a few extra dollars so I began to search for an app like one that I already have and totally love because it lends a small amount with decent payment plan and reports it all to credit bureau which is awesome when you make your payments on time. Well, I came across this app and read a few reviews and thought what the heck. Well as I’m filling out the application and enter my ssn, I get a pop up that says my ssn is already linked to an account, hmm, idk about you all but to me that’s very concerning when I’ve never even heard of Lenme. I decide to shoot them an email which they really were pretty fast and efficient with, and all they had to say was “sorry we cannot provide details about an account you’ve created, we suggest you report it to authorities if you think someone is using your ssn” lol, well yes thanks for the tip, I most certainly will have to contact authorities at this point, but it sounds RIDICULOUS if you ask me to say that I’ve created such and such account with MY ssn and not give me info on it!

I have tried to use Lenme multiple times with no success. I put in the amount and payback date I wanted, chose the monthly subscription option, and got the confirmation message that the subscription would start after the free trial. Then the screen just sits loading forever. I force quit Lenme and tried again, it asks me to subscribe again (IVE ALREADY SUBSCRIBED, it’s showing under my Apple Id subscriptions). I turn my phone off and back on and then try again. Same results. I unsubscribe through my Apple ID and try again. I choose the monthly option and AM NOW CHARGED because I guess I used my one free trial WHICH I HAD TO DELETE BECAUSE YOUR APP WONT LOAD. So I go through the process again to try to request my loan and it just spins and spins after choosing a membership option. My phone is fully up to date with the latest software version. Lenme has never worked for me. I tried multiple times at the end of last year and this is the third time I’ve tried within the last couple months. What is the issue???

EDIT: It’s been a month since I put my ticket in for technical issues of my investments not showing or updating. NO ONE has responded to any of my tickets. 100% would not recommend if you want customer support within a reasonable time and to accurately account for your investments. Changed to 1 star.

It has it perks for investing through peer-to-peer and has come a long way since I started using it. It does display borrowers criteria nicely and you are able to sort by risk easily. On that note, Lenme can be very glitchy when it comes to placing your existing loans. For example, loans that have gone to collections have frequently been placed in pending and will not correct. Additionally, loans that have been completed stay in pending. Customer service fixed it the previous time within a week. However, on my last ticket (7+ days), they have not responded to fix the issue. I have invested a few thousand on this platform and have slowly been pulling my money out of Lenme now because of these issues. If they resolve it, I might choose to stay.

I had this for a while got a few loans everything was great payments came out. All of a sudden I’m being charged to use their service. Figure fine OK no big deal I’ll pay the $10 for a year subscription I use Lenme . Well for some reason every time I try to get a loan it goes right back to make me pay another $10. I reached out to customer service got a generic response after four days responded to them they asked for more information, I gave it to them and didn’t hear from them for about a week. Same generic response. I followed up and requested a refund of my $10 because I wasn’t able to use Lenme got crickets, no response. Finally went back into Lenme and put in another ticket just to get another generic response! If you’re going to make people pay to use your app and charge the lender and try and extort more money out of borrowers that in my book has become a scam! Never once did they mention a refund of my $10 just told me to be patient their IT department is working on some issue or another! Requested refund from Apple we’ll see what happens.

It keeps saying I can’t request a loan because there’s too many requests on Lenme or something like that. I had the free trial but I’m glad I wasn’t paying for it. It’s not great that they charge people for this but then there’s not even a chance for you to request a loan. Basically people are being charged for just having Lenme at the moment. Sure you can use the lend part but if you need to borrow, then you’re being charged for nothing. Maybe in the future more people will sign up to be lenders but for now I can’t even use Lenme . It’s a awesome concept though which is why I gave it 3 stars. Also a really annoying thing about Lenme is that it automatically goes to lending when you open Lenme and I don’t see any way to keep it set on borrowing or lending. Not a huge deal but a bit annoying and something that can be easily fixed. I’ll keep it installed and hopefully can use it one day and I will update my review :)

So I like the ability to help someone in need but also make a few dollars as well. As I’m investor it’s an easy process. I set the interest rate and if I’m willing to find the borrowers full amount which is a made available prior to investing (very helpful). The customer then has the choice to review all their offers and hopefully they choose mine.

From a borrowers mindset, it can seem aggressive as some folks can get interest rates at 200% of the borrowing rate. I get if it’s a desperate situation but I’m those situations I feel like it’s not the best practice from the investor just trying to squeeze the last few dollars you may have.

I give Lenme an 4 because I wish there was details from an investors point of view as to what the funds would be used for. Overall I’m happen to continue helping people and building my portfolio.