LendKey serves as a centralized platform to simplify the process of finding a suitable lender.
You apply for loans through LendKey, which matches you with the right banks or credit unions to secure a loan.
It's important to note that LendKey is not a lender and does not underwrite or fund the loan. After you choose a loan, you proceed with the bank or credit union you selected.
A hard credit inquiry will be conducted as part of the application process, which is typical for this type of service. LendKey, which provides its service for free, appeals to borrowers by presenting multiple offers with varying options for comparison.
Loan approval is determined based on factors such as location, degree, type of loan, loan amount, proof of income, and credit score.
The application process for online lending businesses is standard and involves providing your name, address, annual income, school and degree type, and loan amount. After submitting your application, it should only take a few minutes to start receiving offers.