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Monevo personal loan connection service review: Quickly compare lenders for all credit types

An award-winning connection service that matches borrowers of all types to personal loan lenders in as little as 60 seconds.

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Our verdict

Monevo is a free connection service that matches you to lenders with just one application and a soft credit check. It partners with around 20 reputable lenders and banks that work with borrowers of all credit scores. Advertised APRs are as low as 5.4%, but the best rates are reserved for those with excellent credit. Like most connection services, you'll likely receive marketing emails and calls after submitting your personal information.

Best for: All credit type borrowers who want to compare lenders quickly.

Pros
  • Fair and bad credit OK
  • Free with a soft credit check
  • Can opt-out of lender communications
Cons
  • Not a direct lender
  • Fewer lending partners than some competitors
  • Hard to reach support by phone
4.4

★★★★★

Finder rating

Max. Loan Amount

$500,000

APR

5.40% to 35.99%

Min. credit score

300

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Monevo personal loans

Learn more and apply on Monevo's secure site

Who is Monevo best for

Monevo is best for borrowers who want to save time by comparing up to 20 different lenders with a single application. The service partners with a variety of popular lenders and banks like Sofi, LightStream and Upstart, among others. These lenders work with borrowers with a range of credit scores — from as low as 300 to 670 and above.

This makes the service ideal for anyone who wants to prequalify with multiple lenders at once — instead of filling out separate applications with each lender.

Monevo loan details

Minimum credit score300
APR5.40% to 35.99%
Loan amounts$500 to $500,000 (but most lenders cap out at or below $100,000)
Terms6 months to 12 years
Approval turnaroundVaries by lender
AvailabilityAll 50 states
FeesNone
Other feesNone

How to qualify for Monevo

Monevo doesn’t have many requirements to search for lenders, but you need to be at least 18 years of age and provide basic information to use it.

This includes:

  • Name and date of birth
  • Email and phone number
  • Address and housing information
  • Employment information and status
  • Social Security number

After submitting your information, you can choose whether Monevo can send offers via email or be contacted directly by its lending partners.

How to apply

Here are the steps to get started with Monevo:

  1. Prequalify online by filling out the form.
  2. Review the loan offers provided by Monevo.
  3. Choose a lender, then formally apply with a hard credit check.
  4. Review the loan offer carefully and accept the terms.
  5. Wait for funding to be sent to your bank.
  6. Follow your loan’s repayment plan.

How Monevo compares to other lenders

Monevo personal loans logo

Monevo personal loans

★★★★★

Finder rating 4.4 / 5

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APR

5.40% to 35.99%


Loan term

6 months to 12 years


Loan amount

$500 to $500,000


Min. credit score

300

Upstart personal loans logo

Upstart personal loans

★★★★★

Finder rating 4.15 / 5

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APR

6.7% to 35.99%


Loan term

3 or 5 years


Loan amount

$1,000 to $50,000


Min. credit score

300

Best Egg personal loans logo

Best Egg personal loans

★★★★★

Finder rating 3.8 / 5

Go to site


APR

8.99% to 35.99%


Loan term

3 to 5 years


Loan amount

$2,000 to $50,000


Min. credit score

600

Monevo reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 4 customer reviews
Trustpilot Score 4.3 out of 5 stars, based on 44 customer reviews
Customer reviews verified as of 03 January 2023

There aren’t many reviews or ratings for Monevo, but it’s been accredited by the Better Business Bureau (BBB) since 2018.

Most reviews are positive, citing fast results, an easy-to-use platform and overall a seamless experience. There aren’t many negative reviews, and the common threads involve dissatisfaction from users who weren’t approved for a loan and frustration with being contacted by Monevo’s lending partners.

Is Monevo legit?

Monevo is a legitimate, award-winning connection service. It operates in the US, UK and Australia. Its online privacy policy states how your data is collected, used and shared with third parties.

But remember that Monevo isn’t a direct lender and doesn’t issue any loans itself. If you’re connected with one of Monevo’s lending partners, research the lender by checking its APR, origination fees and online reviews.

Some of Monevo’s lending partners include:

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