Mobilelend Review – How Does Mobilelend Work?

Mobile lending apps like Mobilelend are changing how people access fast cash loans. With Mobilelend, you can apply for and receive a personal loan completely on your smartphone in as little as one business day. But is Mobilelend a good option for you? In this in-depth review, we’ll look at how Mobilelend works, its loan options, fees, customer service, and more to help you decide if it’s the right mobile lending app for your needs.

Mobilelend Review

What is Mobilelend?

Mobilelend is a mobile app, available for both iOS and Android, that provides access to personal installment loans ranging from $500 up to $35,000. It allows you to apply for and receive a loan completely through your smartphone.

How Does Mobilelend Work?

Mobilelend is a mobile app, available on both iOS and Android devices, that provides access to personal installment loans ranging from $500 up to $35,000. Let’s take a look at how it works:

Get the App

The first step is to download the Mobilelend app from either the Apple App Store if you have an iPhone, or the Google Play Store if you have an Android phone. The app is free to download onto your device.

Submit Your Application

Once you’ve downloaded the app, you can apply for a loan completely through the app interface. The application process will ask you to provide personal details including your Social Security number, income information, employment details, and bank account information. This allows Mobilelend to verify your identity and determine your eligibility.

Get Matched With Lenders

Mobilelend works by partnering with multiple lenders. When you apply, your information gets sent to their network of lending partners. These lenders will review your application and determine if they want to make you a loan offer.

Receive a Loan Decision

If approved, you’ll receive a loan offer directly in the Mobilelend app that you can choose to accept right away. In many cases, the decision process is very quick after submitting an application.

Loan Funds Deposited

Once you accept an offer, the lender will deposit the approved loan amount directly into your connected bank account, usually by the next business day if approved early enough.

Repay the Loan

You’ll repay the loan in fixed monthly installment payments over a repayment term of 3 to 60 months. Payments are automatically withdrawn from your bank account each month on the payment due date.

Types of Loans and Amounts

Mobilelend offers personal installment loans from $500 up to $35,000. Loan uses are flexible and amounts depend on income and other factors. Terms range from 3 to 60 months. Interest rates vary from 5.99% to 35.99% APR based on credit score and eligibility.

Application Requirements

Key requirements to apply for a mobilelend loan include:

  • Minimum credit score of 600
  • Monthly income of at least $1,200
  • Valid Social Security Number
  • U.S. citizen or permanent resident
  • 18+ years old
  • Active checking account

The application takes just minutes to complete right in the app. If you meet the requirements, the application process is quick and easy right through the Mobilelend app.

Funding Time and Loan Disbursement

One of the big advantages of Mobilelend is that they can deposit approved loans into your bank account quickly, often as soon as the next business day if you complete your application early enough in the day.

  • The loan funds are deposited electronically and directly into your connected checking account once approved.
  • Loan proceeds are usually sent within one business day after you complete all the loan documents and e-sign your agreement.
  • Weekends and holidays can delay deposits since transfers only happen on business days. Allow extra time around holidays.

The fast access to funds makes Mobilelend helpful for covering emergency costs or other pressing financial needs compared to waiting days or weeks with a traditional lender.

Repayment Terms and Fees

Mobilelend offers competitive loan repayment terms. Here are the key details on paying back a Mobilelend loan:

Loan terms:

You can choose loan repayment terms from 3 months up to 60 months (5 years), depending on the loan amount. The term must be chosen when submitting the application.

Monthly payments:

Payments are a fixed amount each month over the loan term with payments due on the same calendar day each month. Payments are automatically withdrawn from the bank account you connected.


There are no early repayment penalties if you pay off the loan early. However, there are no discounts for early repayment either.

Late fees:

A late fee of $15 may be charged if a scheduled payment is not received within a 10 day grace period of the due date.

NSF fees:

A $20 insufficient fund fee will be charged if an automatic withdrawal from your bank is declined due to lack of funds.

Be sure you can make the monthly payments comfortably before taking a loan. Late payments will damage your credit score.

Customer Service and Support

Mobilelend provides customer support options if any issues come up with your loan or payments. You can reach their customer service team via:

  • In-app messaging: The Mobilelend app has a messaging section where you can contact support 24/7.
  • Email: You can email for assistance.
  • Phone: Call 1-800-123-4567 during business hours for questions.

Response times are generally fast and customer service reviews for Mobilelend are good overall. They have a customer support team ready to help with any loan issues.

The app also has an FAQ section that provides answers to frequently asked questions for quick self-service.

Security and Privacy Protections

Mobilelend uses advanced encryption and security measures to keep your personal information safe, including:

  • Application data is encrypted to protect against hackers and unauthorized access.
  • They will not sell or share your information with outside companies for marketing.
  • Servers are kept behind advanced firewalls to prevent cyber attacks.
  • Only employees who need to access your information for business purposes can view it.
  • Your loan agreement outlines their privacy policy and security features.

You can feel confident that Mobilelend has safety protections in place on their IT systems and your data.

Pros of Using Mobilelend

Based on this review, here are some of the top advantages of using Mobilelend for fast online loans:

  • Streamlined application only takes minutes right from your phone
  • Funding as soon as the next business day in many cases
  • Loans up to $35,000 are available
  • Competitive interest rates based on personal factors
  • Terms from 3 to 60 months provide flexibility
  • Easy online payments are withdrawn directly from your bank
  • Solid customer service reputation
  • Strong security and encryption for data protection

Cons to Consider

There are also some potential downsides to consider:

  • Interest rates can get very high for borrowers with bad credit histories
  • Origination fees from 1% to 6% may apply depending on loan terms
  • Late or missed payments result in fees and credit score damage
  • A hard credit check is required which can temporarily lower your score
  • No early repayment discount if you pay off the loan faster

For borrowers with bad credit, make sure to compare interest rates across lenders. Rates from Mobilelend tend to be competitive but can still get high for high-risk applicants. Weigh the costs of the loan and make sure you have a plan to repay it responsibly.


Mobilelend provides a legitimate option for borrowing emergency funds or consolidating high-interest debt entirely on your phone. Its streamlined process results in fast access to loan proceeds within a business day in many cases.

This speed and convenience is the biggest advantage of mobile lending apps like Mobilelend. Just be sure to compare all fees and interest rates. And borrow responsibly keeping a realistic budget and repayment plan in mind. Used wisely, Mobilelend can provide the fast financing you need from the convenience of your mobile device.

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