LendFirm Review: No-Credit-Needed Financing with Competitive Interest Rates

Aug 30th 2021

LendFirm Review: No-Credit-Needed Financing with Competitive Interest Rates

LendFirm is an online lender that works with select merchants, like Gage Diamonds, to offer financing to consumers with poor or no credit. LendFirm offers interest rates as low as 4.95% over 12- or 24-months that are payable in equal installments.

  • 100% financing with no credit needed
  • Only available through limited retailers
  • Easy application process with 24-hour approvals and no up-front costs
  • Depending on your payment schedule, you may have to make your first payment before receiving your purchase
  • Full refund of paid interest if an item is returned and refunded
  • Down payment may be required
  • Ability to take out multiple loans and consolidate
  • End up paying more than the original retail price due to interest
  • Automatically debited monthly payments that align with your employer’s payment schedule
  • Loan doesn’t help to build credit


The lender states that they “use a holistic approach and evaluate consumers on many different criteria to make an approval decision,” meaning they determine your eligibility by assessing factors beyond your credit score, like income history and bank account standing (i.e., no excessive NSFs, overdrafts, and negative balances.)


What is the Application Process?

  1. Fill out an application online through the retailer that you’d like to finance your purchase
  2. Upload a valid driver’s license or State ID
  3. Complete the safe and secure bank verification step, or upload your most recent 30-day bank statement

You will be notified of your approval status within one business day.

Once approved for a loan, LendFirm will provide credit to be applied at check out on the merchant site.


If you’re considering applying for LendFirm financing, here are some additional details to consider:

  • Credit Check - LendFirm performs a hard credit inquiry to verify applicant’s identity through their social security number. Inquiries may or may not affect your FICO score. For many people, one additional credit inquiry (voluntary and initiated by an application for credit) may not affect their FICO score at all.
  • Automatic Payments – Your payment schedule will be determined by the dates on which you are paid by your employer. Payments begin on the pay date after you checkout to ensure that the funds are available in your account.
  • No Up-Front Fees – It is free to apply and there is no obligation to use your financing if approved.
  • Multiple Loans – LendFirm will accept applications from existing borrowers, but your current balance and payment history will have an impact on the approval decision and the amount of credit that can be extended.


Should I Apply?

For customers with limited credit options, financing your jewelry purchase(s) through LendFirm is an excellent choice for consumers looking to reduce the financial burden of a large purchase.

Want to learn more about engagement ring financing? Check out our comprehensive guide here.