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Monevo Reviews

9

bestfor-icon No minimum credit score requirement

bobphillips
Written by Bob Phillips

About Monevo | Read More

9

LS Score

10

Credibility

8

Support

9

Accessibility

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Opening Hours Opening Hours drop-down-btn
Mon-Fri 6am-8pm PST
Sat 7am-6pm PST
Sun Closed
Contact Information Contact Information drop-down-btn
  • SupportUSA@monevo.com
  • (619)-536-0749
  • U.S Headquarters: Monevo Inc. 169 Saxony Rd Suite 212 Encinitas CA 92024
Social Media Social Media drop-down-btn
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Monevo Personal Loans Review

Monevo personal loans are funded by over 50 lenders doing business in the U.S. and another 100+ worldwide. The company offers competitive fixed rates on loans ranging from $500 to $100,000.

Monevo Personal Loans Highlight

300

Min Credit Score

2.49-35.99%

APR. Fixed Rate

$500-$100K

Loan Amount

12-144 months

Repayment terms

Yes

Soft Credit Pull

Marketplace

Lender Type

None

Other Fees

None

Origination Fee

Varies by lender

Prepayment Fee

1 days

Funding Time

Pros & Cons

drop-down-btn
  • con-icon Low minimum and high maximum loan amounts
  • con-icon No fees to apply
  • con-icon No minimum credit score needed
  • con-icon Does not provide customer service to borrowers
  • con-icon Existing bank account required

Loan Type

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  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans
View rates

Monevo Personal Loans Terms & Requirements

Monevo’s lenders offer loans for as little as $500 and as much as $100,00, with repayment terms from 6 – 144 months. Their personal loans can be used for any purpose the borrower chooses. Monevo’s terms and interest rates are very favorable compared to its competitors, and the credit requirements to qualify for a loan are less stringent than many other personal loan companies.

How to Apply

Receiving a loan through Monevo is fast and simple. There is a one-page (one-screen) application. After completing Monevo’s application, you are matched with multiple lenders from which you’ll select and apply for final approval.

monevo step 1: Loan details
Step 1

Loan details

monevo step 2: Personal details
Step 2

Personal details

monevo step 3: Address
Step 3

Address

monevo step 4: Employment details
Step 4

Employment details

monevo step 5: Terms of service
Step 5

Terms of service

Qualification Requirements

Monevo has several industry standard requirements for someone interested in a personal loan:

  • Minimum age: 18
  • U.S. citizen or permanent resident
  • Have a valid Social Security number
  • Have a valid driver’s license/state ID
  • Have a regular income
  • Have an open bank account for funding purposes

Required Information

Monevo requires you to provide the standard of personal information and the loan amount requested to match you with a lender.

Application Steps & Time Frames

  • Complete the information form: 5 minutes
  • Wait for a decision: typically, within two hours
  • Funding is released in around one business day (depending on the lender)

Monevo’s process is simple and quick. Funding is faster than many other personal loan lenders.

State Availability

- Available in all states

Monevo Debt Relief Review

Monevo Debt Relief Highlight

$10K

Minimum Debt Amount

Yes

Soft Credit Pull

Marketplace

Lender Type

Yes

Other Fees

None

Origination Fee

None

Prepayment Fee
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How to Apply

State Availability

- Available in all states

bobphillips
Written by Bob Phillips linkedin-icon twitter-icon

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.

faq-icon

FAQ’s

How does requesting a short-term loan through Monevo affect my credit score?

Narrowing down which lending partners can help you through Monevo will not affect your credit score. When you select a lender and they perform a credit check, that may negatively affect your score.

Can I get a loan if I live outside the United States?

Yes, Monevo also has offices in the United Kingdom and Australia.

How fast will my loan be approved?

Most applicants are pre-approved for a personal loan within minutes, and most lenders release funding by the end of the next business day.

Customer Support

Monevo offers customer support via telephone or e-mail.

We found Monevo’s Encinitas, CA-based telephone support for U.S. customers to be very responsive and their hours convenient for residents in other time zones.

Privacy & Security

Monevo stresses that privacy and security are a priority for them. They use SSL encryption on their website to keep your personal data safe and secure.

Its privacy and security statement reads in part, “The presence of SSL means you can rest assured that communications between your browser and this site web servers are private and secure when the SSL session is activated. SSL certificates from GeoTrust® are the ultimate online security and trust solution delivering both 256-bit encryption and the True Site™ trust mark providing third-party website identity validation.”

In Conclusion

Monevo is a highly-rated loan aggregator that matches borrowers with lenders based on the loan amount and the borrower’s creditworthiness. It has an A+ rating from the BBB and favorable ratings on TrustPilot and other review sites.

Brand Disclaimer

APR’s on loan offers from the panel of lending partners on Monevo originated through Google or Bing advertisement range from 1.99% to 35.99%, with loan durations between 6 months and 144 months. Repayment examples (for illustrative purposes only): a $10,000. Loan at 4.89% APR with a term of 3 years would result in 36 monthly payments of $299 (Total repayable: $10,772) and a $10,000 loan at 9.99% APR with a term of 5 years would result in 60 monthly payments of $201.81 (Total repayable: $12,108.60). Each state has specific rules and regulations that govern lending partners. The amount you can borrow, the APR, and repayment term are based on your state’s laws, the lending partner, and your creditworthiness.