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Monevo personal loan connection service review

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Quickly compare lenders offering $500 to $100,000.

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.

$100,000

Max. Loan Amount

3.99%

APR

450

Min. Credit Score

Details

Product NameMonevo Personal Loans
Min. Loan Amount$500
Max. Loan Amount$100,000
APR3.99%
Interest Rate TypeFixed
Min. Credit Score450
Late Fee$0
Minimum Loan Term0.25 years
Maximum Loan Term12 years
Turnaround TimeVaries by lender
Go to Monevo's website

Expert review

Anna Serio

Review by


Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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
Go to Monevo's site

Compare other personal loan providers

Updated January 29th, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
Upgrade Personal Loans
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Even Financial Personal Loans
3.84% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
NetCredit Personal Loans
34% to 155% (Varies by state)
No minimum
$10,000
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo Personal Loans
3.99%
450
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
PenFed Credit Union Personal Loans
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
LendingClub Personal Loan
6.95% to 35.89%
640
$40,000
A peer-to-peer lender offering fair rates based on your credit score.
SoFi Personal Loans
5.99% to 20.01%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

What do customers say about Monevo?

BBB accreditedYes
BBB ratingA+
BBB customer reviews5 out of 5 stars, based on 1 customer reviews
Customer reviews verified as of20 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:
  1. Click the green Go to site button to be redirected to Monevo’s website.
  2. Enter your loan amount, loan purpose and estimated credit score.
  3. Enter information about yourself, including your annual income and Social Security number.
  4. 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.

Go to Monevo's site

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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Read the full methodology of how we rate personal loan providers.

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