Finder experts pick Monevo Personal Loans as a 2020 best pick for personal loans.
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Monevo personal loan connection service review
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Quickly compare lenders offering $1,000 to $50,000.
finder.com’s rating: 4.4 / 5.0
★★★★★
- Best for borrowers who don't have time to compare lenders themselves.
- Pick something else if you don’t want to field phone calls and emails from its partner network.
$50,000
Max. Loan Amount
3.49% to 35.99%
APR
450
Min. Credit Score
Details
| Product Name | Monevo Personal Loans |
|---|---|
| Min. Loan Amount | $1,000 |
| Max. Loan Amount | $50,000 |
| APR | 3.49% to 35.99% |
| Interest Rate Type | Fixed |
| Min. Credit Score | 450 |
| Late Fee | $0 |
| Minimum Loan Term | 0.25 years |
| Maximum Loan Term | 12 years |
| Turnaround Time | Varies by lender |
Expert review
Review by
Anna Serio
anna.serio@finder.comAnna Serio is a trusted loans expert who's published more than 800 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Fundera, Business.com, and ValueWalk feature her professional advice, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Expert review
Monevo is ideal if you’re looking for fast funding and don’t have time for a lot of research. It takes just minutes to fill out its online form. And depending on the lender you’re connected with, you could get your funds as soon as the next business day. Its low credit requirement of 450 also makes it a good option if you’re struggling to find a loan provider because of your credit score.
But as with all connection services, you’re limited to the partners in its network. And don’t be surprised if you’re fielding phone calls and emails from its network of lenders — even after taking out a loan.
Prefer to work with a lender directly? Compare personal loan providers below.
First, am I eligible?
To be connected with one of Monevo’s partners, you must meet the following criteria:
- Credit score of 450+
- US resident
- Bank account
- Age 18 or older
To qualify for the lowest interest rates, you’ll typically need to be employed, have an excellent credit score and a low debt-to-income ratio (DTI).
Pros
- Filling out its online form won’t impact credit score
- Wide range of loan amounts
- Find a lender in as little as 60 seconds
- Up front about partners
- Award-winning service
Cons
- Limited to partners in its network
- Mix of manual and automated underwriting by partner lenders
- Might receive phones calls and emails from partners
Monevo’s network of lenders include:
Compare other personal loan providers
Updated April 6th, 2020
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What do customers say about Monevo?
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 5 out of 5 stars, based on 1 customer reviews |
| Customer reviews verified as of | 20 December 2019 |
While Monevo doesn’t have a Trustpilot page, it earns 4.6 out of 5 stars on Feefo based on over 560 reviews. It has mixed reviews on other forums, with some users praising its speed and others upset they weren’t matched with a lender. You’ll also find complaints from users who connected with providers but still didn’t ultimately find a loan that fit their specific needs. If they did, these loans had higher interest rates and fees than the customer would’ve preferred.
How do I get started?
Before using Monevo’s service, first make sure you meet its basic requirements. If you do, follow these steps to get started:
- Click the green Go to site button to be redirected to Monevo’s website.
- Enter your loan amount, loan purpose and estimated credit score.
- Enter information about yourself, including your annual income and Social Security number.
- Review Monevo’s terms and click Get your results to submit its online form.
What information do I need?
Have the following information on hand before you get started:
- Estimated credit score
- Contact information
- Annual income before taxes
- Social Security number
How to fill out its online form with pictures
What happens after I fill out its online form?
Monevo will search its network of affiliate lenders to find the best fit for you. You can compare your options and visit the provider website to complete a full application.
If you’re approved, you might be asked to provide additional documentation, such as government-issued ID, recent bank statements and pay stubs. Carefully read your loan documents before signing them. Your funds will likely be disbursed within a few days after signing your documents, depending on the provider you go with.
How do repayments work with Monevo?
Your lender should outline your repayment schedule and any fees you might have to pay in your loan agreement. Be sure to keep in touch with your loan provider if you have questions or notice anything wrong with your account.
More about Monevo
Monevo is a division of Quint Group — formerly Quintessential Finance — an international fintech company that provides several lending and credit-related services. It began operations in the US in 2012, with offices in New York and California.
Quint Group awards
Monevo and other Quint Group companies have won or were a finalist for several international awards since the group’s founding in 2009. These include:
- The Queen’s Awards for Enterprise. Winner, Innovation, 2017
- Best Companies. Three-star rating, 2016, 2017
- FStech Awards. Finalist, Online Financial Technology Provider of the Year, 2017
- National Business Awards UK. Finalist, Growth Business of the Year, 2014
- GP Bullhound Northern Tech Awards. Winner, Fastest Growing Company, 2014
- Sunday Times Tech Track 100. Winner, Fastest Growing Financial Technology Business in UK, 2013. Also received 3rd place in the Tech Track 100
- Al Sector Performance Awards. Winner, Best in Sector for Consumer Finance, 2014
Rather work with a lender directly? Compare your options with our guide to personal loans.
Frequently asked questions
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