MONEVO 2020
IN-DEPTH REVIEW

In a nutshell: Monevo personal loans serves as a match lending service, connecting prospective borrowers with their network of over 30 top lenders in the United States. Through their marketplace, customers can shop for unsecured loans between $1,000 up to $100,000. Rates vary according to the applicant and start as low as 3.49% APR.

9.3

Overview

Based in California, Monevo personal loans provides a marketplace for borrowers to connect with their ideal lender. In business since 2008, this well-established personal loan service aims to help customers find loans with great rates and repayment terms. Their network of lenders consists of over 30 of the country’s top lenders, and even applicants with low credit scores can shop for a loan through Monevo.

Monevo boasts over nine accreditations and recognitions, and, as a subsidiary of the UK-based Quint Group, customers can rely on Monevo to provide personalized loan offers from many major online lenders. Borrowers can receive between $1,000 to $100,000 through their personal loan service. 

 

 

Requirements

Monevo has very flexible requirements, and has solutions available for all credit score types. In order to qualify for the service, customers will need to be at least 18 years old. You must also be a US citizen or permanent resident and have a bank account in your name.

 

 

Loan Process

Monevo makes it very simple and convenient to apply for a personal loan. Applicants can submit their information in just a few seconds on the Monevo website. You can expect a quick response right away. Plus, their service doesn’t charge any fees upfront. To apply, you’ll need to fill in some information about how much money you would like to borrow, personal details, and employment information.

 

 

Loan Terms

Monevo serves as a loan aggregator, connecting prospective borrowers to a marketplace of lenders. That means customers can shop around for the most suitable terms for their budget and preferences. Loan rates and repayment terms depend on the applicant, and the customer’s chosen lender. Loans start at a low APR of 3.49% and go up to 35.99%. Repayment periods start from 3 months up to 12 years. Rates will depend on the factors such as the person’s credit score, employment history, income, and so forth.

 

 

Customer Support

Monevo has a very straightforward website, making it efficient for prospective customers to get the information they need before applying for a loan. When in doubt, you can contact Monevo directly via their online contact form or their online chat feature.

PROS
  • Options for all credit scores
  • Network of 30+ US lenders
  • Starts at 3.49% APR
CONS
  • Not a direct lender
  • Limited FAQs
BOTTOM LINE
Monevo matches borrowers with a network of 30+ US lenders for personal loans between $1K-$100K.
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Joe Schwartz

Personal Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.