Is Lending Stream App Legit or Scam? Reviews, Contact Details, Interest Rate, Eligibility

Are you looking for a short-term loan but require slightly longer repayment terms than the finest payday loans normally provide? If so, Lending Stream would be worth a look, not least because you can borrow funds for up to 6 months.

The UK-based company offers loans ranging from £50 to £800 for first-time borrowers and up to £1,500 for recurring consumers.

Furthermore, the lender says that the funds could be placed into your bank account within 90 seconds of approval in some situations. On the other hand, be prepared to pay a substantial sum of interest on the loan. In extreme circumstances, the APR can surpass 1,000%.

If you want to know if the loan provider is perfect for you, read our complete Lending Stream Review. We go over everything you need to know, including APR rates, how much you can borrow, loan terms, late payment fines, and more.

What exactly is Lending Stream?

Lending Stream is a short-term loan company that operates online. By offering payback terms of up to 6 months, the site claims to provide an alternative to payday loans. This is relatively rare in the payday loan industry, not least because lenders typically require the loan to be paid in full on your next pay day. Having said that, Lending Stream is extremely pricey in terms of APR.

Lending Stream may charge you up to 1,721% APR depending on your creditworthiness and financial situation. This is a massive sum of interest, especially if the entire 6-month period is used. On the other hand, the lender does not impose any early repayment costs, which means you can repay the loan early and thereby minimise the overall interest that you pay.

Nonetheless, the lender allows you to borrow as little as £50 and as much as £800. This is extended to £1,500 if you previously took out a loan with Lending Stream and repaid the cash on time. The lender requires a monthly income of £400 or more, as well as a fully-functioning UK bank account and debit card, as the minimum eligibility conditions.

Finally, the application procedure itself is lightning fast. Everything may be done on your mobile or desktop computer, and you should hear back within a few minutes of submitting the application. If you are approved right away, you might have the loan funds in your hands in as little as 90 seconds.

Pros and Cons of Lending Stream?

Lending Stream pros:

Payday loans ranging from £50 to £800

Repeat customers are eligible for up to £1,500 in loans.

The application can be done entirely online.

Claims that authorised loans can be funded in 90 seconds or less.

Loan periods of up to 6 months are available.

Loans with early repayment penalties

Cons of Lending Stream:

Interest rates might reach 1,700% APR.

A minimum monthly salary of £400 or more is required.

How to Get a Loan with Lending Stream

Lending Stream operates similarly to any other payday lending firm in the UK. Lending Stream, like Satsuma Loans and Cash Float Loans, allows you to complete the entire loan application process on its website.

That being said, if you require assistance with the application procedure, please refer to the step-by-step approach given below.

First, go to the Lending Stream website.
First and foremost, go to the Lending Stream homepage and select the ‘APPLY NOW’ button.

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Step 2: Determine Your Funding Amount
You must now decide how much you want to borrow. Remember that first-time borrowers can borrow between £50 and £800.

Loan application website for Lendng Stream
Step 3: Enter Your Personal Data
Lending Stream, like all other online loan providers, will need to acquire certain personal information from you. This information includes your entire name, address, date of birth, marital status, and the number of dependents for whom you are responsible. You must also include your email address and phone number.

Step 4: Employment Information
Your income is one of the primary factors on which Lending Stream will make its judgement. As a result, you’ll need to provide your work status, after-tax income, and pay frequency. You will also be asked to enter your monthly costs. This will include your monthly rent/mortgage payments as well as any current debt obligations.

Step 5: Examine the Financing Decision
Lending Stream will cross-reference your information with our third-party sources after you submit the application form. You will get your pre-approval offer on-screen if the lender is able to validate your information and believes you have the financial means to afford a loan. This will include the amount you can borrow as well as the applicable APR rates.

If you accept the terms presented, you must sign a digital loan agreement. Just be sure you thoroughly understand the loan agreement before signing it.

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Step 6: Enter Bank Account Information and Wait for Funds
Finally, enter your bank account information as well as the number located on your debit card. In terms of the former, this is the account into which Lending Steam will deposit the loan fund. This might happen in less than 90 seconds if approved.

The lender will wish to authenticate that you are the genuine owner of the listed bank account, which is why you are requested to provide your debit card credentials.

Even if you are approved for a loan through Lending Stream, you may receive less than you expected. If this is the case, the lender’s choice will be based on your affordability levels.
What Happens Now That My Lending Stream Loan Is Funded?
You will enter into a legally binding agreement with Lending Stream once the loan funds have landed in your bank account. According to the conditions of the digital loan agreement, you must make your monthly installments on the same date each month. The interest will be included in the monthly installments. You have two alternatives for making the payment.

Loan application website for Lending Stream

The most typical payment method is to set up an automatic payment, which means that Lending Stram will deduct payments from your debit card each month until the loan is fully returned. You can also make manual payments through your Lending Stream account. We strongly advise you to choose the former, as you will eliminate the chance of forgetting to make the payments.

How Soon Will I Get My Lending Stream Loan?

Lending Stream will automatically send monies into your bank account after the loan has been accepted. According to the platform, funding takes less than 90 seconds. This is not always the case, especially if the lender seeks further information from you.

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If Lending Stream needs to authenticate your income, you may be required to provide copies of your most recent paystubs. In order to verify your identity, you may be required to upload a copy of your passport or driver’s licence.

What Loans Does Lending Stream Provide?

Here are the loan packages available through Lending Stream.

Payday Advances
Payday loans are a type of short-term borrowing. They let you to borrow a modest amount of money, and you will most likely be required to refund the funds when your next paycheck arrives. Payday lending organisations not only target people with bad credit, but the underlying APR rates can surpass 1,000%.

As such, they should only be used as a last option. Having said that, Lending Stream financing differs differently from standard payday loans, not least because you have up to 6 months to repay the monies.

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What is the interest rate charged by Lending Stream?

One of the first questions you should ask before taking out a payday loan is how much interest it will cost you. After all, the APRs on payday loans are often exorbitant. Because the particular rate will differ from borrower to borrower, there is no one-size-fits-all answer to how much you’ll wind up spending.

Nonetheless, Lending Stream will consider the following factors when determining how much interest to charge you.

The amount you must borrow

How long do you need to borrow the money?

If you have already borrowed money from the lender

What are your current outstanding debts?

Your current after-tax income

Your current employment situation

How frequently you are compensated

The only method to really determine how much you’ll pay on your loan is to apply. You will then be able to view your pre-pre-approval. You will not be obligated to accept the rate.
Although your APR will not be known until you apply, Lending Stream does provide an example loan agreement.

If you borrowed £200 at a sample rate of 1.333%, you would finish up paying £386.61 back if the loan was for more than 6 months. This equates to six equal payments of £64.44, for a total interest charge of £186.61. According to Lending Stream, this rate is available to more than 51% of its applicants.

In addition to the APR rate, you should consider whether your loan has any additional fees. While there are no fees for applying or paying off the loan early, there is a £15 late payment fee.

According to the Financial Conduct Authority’s recent regulations, payday loan lenders cannot charge more than 0.8% interest per day. Furthermore, the total costs of the loan, including interest and late payment penalties, cannot exceed 100% of the amount borrowed.

Lending Stream Eligibility Criteria

Although the minimum requirements at Lending Stream are somewhat low, not everyone will be eligible for a loan. As a result, you must meet the eligibility requirements outlined below.

  • You must be at least 18 years old.
    You must be a UK citizen or permanent resident.
    Have a steady source of income
    You must earn at least £400 per month.
    You must have a valid debit card.
    Have a current account that is active
    Lending Stream does not specify a minimum credit score, as evidenced by the above criteria. Although this may still play a role in your loan approval, the lender will be more concerned with your overall finances.
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Is Lending Stream App Legit or Scam?

Lending Stream App is Legit and not a Scam. However, it has some pros and cons you need to consider before applying for loan.

What Happens If I Don’t Make a Payment?

If you skip a payment, Lending Stream will almost certainly charge you a late payment fee. The lender specifies that this amount cannot exceed £15. While the financial penalty for missing a payment is limited, keep in mind that Lending Stream may report this to the major three credit agencies. If it does, your credit score may suffer as a result of the missing payment.

Lending Stream Customer Service
Do you have a question for a member of the Lending Stream customer care team? The following channels provide support:

📱Phone: 0203 365 0133

Email us at [email protected].

Yes, live chat is available.

The customer assistance team is available seven days a week during the following hours:

Monday through Friday: 08:00 – 20:00

⏱️ Saturday: 08:00 – 20:00

⏱️ Sunday: 08:00 – 20:00


In summary, Lending Stream has both its merits and cons. On the one hand, the internet lender makes the loan application process super-easy. By filling out a few questions about your personal and financial position, the lender should be able to provide you a fast judgement. If you are pre-approved – and you’re comfortable with the terms offered, you might have the funds placed in your bank account in less than 90 seconds.

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On the other hand, it is crucial to know that the APR rates imposed by Lending Stream are sky-high. In fact, it’s possible that you’ll pay far over 1,000% APR. With loan length ranging from 60 days to six months, a payday loan with Lending Stream could become very costly. With that said, you’ve got nothing to lose by finding out what APR rates the lender is ready to provide you by completing the initial application form.


How do I return my Lending Stream loan?

When it comes to repaying the loan, Lending Stream provides two possibilities. The simplest method is to authorise Lending Stream to withdraw funds from your debit card automatically. You’ll never miss a payment this way. The other option is to make a monthly manual payment.

What types of loans does Lending Stream support?

Lending Stream focuses solely on payday loans. However, its payday loans have a minimum period of 60 days and a maximum term of 6 months.

How long does the Lending Stream loan application process take?

The initial application procedure should take no longer than 5 minutes. The lender says that after the application is approved, the funds will be transferred within 90 seconds.

Is Lending Stream a good option for me?

Lending Stream is only offered in five US states. California, Florida, Hawaii, Kansas, and Louisiana are among the states affected.

About Samuel 637 Articles
Samuel is an SEO technician and Content developer with over 5 years of work experience. He is known for his love and passion for helping others achieve their financial goals and dreams. This lead to the birth of Finwealthonline. His love for many has to lead him to help thousands of students seeking financial loan advices, app reviews with the right information. Samuel being the CEO and founder of Finwealthonline will continue his good work on helping people with the right information that will lead to achieving their financial dreams and goals.

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