At LoanHub, we are committed to responsible lending practices that help our customers achieve their financial goals while protecting them from unaffordable debt.
Our Commitment to Responsible Lending
We believe that lending should be transparent, fair, and beneficial to our customers. Our responsible lending framework includes:
- Thorough affordability assessments for all loan applications
- Clear and transparent communication about loan terms and costs
- No hidden fees or misleading practices
- Support and guidance for customers experiencing financial difficulties
- Regular review and improvement of our lending policies
Before You Borrow
Before applying for a personal loan, please consider:
- Do you really need to borrow? Consider if there are alternatives to borrowing money
- Can you afford the repayments? Ensure the monthly payments fit comfortably in your budget
- Have you shopped around? Compare rates and terms from multiple lenders
- Do you understand the terms? Make sure you understand all costs and obligations
Our Assessment Process
When you apply for a loan, we conduct a comprehensive assessment that includes:
- Credit History Review: We check your credit report to understand your borrowing history
- Income Verification: We verify your income to ensure you can afford the loan
- Debt-to-Income Analysis: We calculate your existing debt obligations relative to your income
- Affordability Assessment: We ensure the loan payments are affordable based on your financial situation
Transparency in Lending
We believe in complete transparency. Before you accept a loan, we provide:
- Clear disclosure of your interest rate (APR)
- Total cost of the loan over its lifetime
- Monthly payment amount and due dates
- Any fees or charges that may apply
- Early repayment options and any associated costs
Fair Lending Practices
LoanHub is committed to fair lending and equal opportunity. We:
- Do not discriminate based on race, color, religion, national origin, sex, marital status, or age
- Comply with all federal and state fair lending regulations
- Use objective criteria for loan decisions
- Provide equal access to credit for all qualified applicants
If You're Having Difficulty
If you're experiencing financial difficulties, please contact us immediately. We offer:
- Payment modification options
- Temporary payment deferrals (when appropriate)
- Financial counseling resources
- Assistance in creating a manageable repayment plan
Important: Contact us before missing a payment. Early communication gives us more options to help you.
Educational Resources
We provide educational resources to help you make informed financial decisions:
- Loan calculators to help you understand costs
- Budgeting tools and guides
- Credit improvement resources
- Financial planning information
Regulatory Compliance
LoanHub operates in full compliance with applicable federal and state regulations, including:
- Truth in Lending Act (TILA)
- Fair Credit Reporting Act (FCRA)
- Equal Credit Opportunity Act (ECOA)
- Fair Debt Collection Practices Act (FDCPA)
- State licensing and regulatory requirements
Contact Our Customer Advocates
If you have concerns about our lending practices or need assistance, please contact us:
Customer Advocacy Team
Email: advocacy@loanhub.com
Phone: 1-800-LOANHUB (1-800-562-6482)
Address: 123 Financial Street, Suite 500, New York, NY 10005
External Resources
For additional financial education and assistance:
- National Foundation for Credit Counseling: www.nfcc.org
- Consumer Financial Protection Bureau: www.consumerfinance.gov
- Federal Trade Commission: www.ftc.gov