Monevo Review
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Monevo Reviews

Bob Phillips


Bob Phillips

No minimum credit score requirement
No minimum credit score requirement
About Monevo

With U.S. headquarters in Encinitas, CA, Monevo is a six-year-old personal loan company that also has offices in the United Kingdom and Australia. The company works with over 30 lenders in the U.S. to distribute personal loans via their platform and Partner network.

Monevo provides the technology and relationships to compete successfully in the competitive personal loan marketplace that is rapidly growing. They are passionate about helping consumers find the best possible credit available to them through a single search.

Monevo’s main selling point is that it approves larger personal loans without having a minimum credit score.









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 Highlights


$500 - $100,000


6-144 months




1.99% - 35.99%


1 days











Pros & Cons

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

Personal Loans Types

  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans

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

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

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.”

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.

Phone Support
6am-8pm PST
7am-6pm PST

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.


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.

Monevo 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.


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Bob Phillips

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.