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Personal Money Network can connect you to a short-term lender within a few minutes by filling out a quick online form. But with no contact information and partner lenders that charge high fees, you may want to consider your options carefully before signing the dotted line.
$100
Min. Amount
Same business day to 1 business days
Turnaround time
| Product Name | Personal Money Network Payday Loans |
|---|---|
| Min. Amount | $100 |
| Loan Term | Varies |
| Loan Security | Unsecured |
| Turnaround Time | Same business day to 1 business days |
| Costs | $15 to $30 per $100 borrowed, depending on local and state laws. |
| Requirements | Be at least 18 years old, US citizen, consistent income, steady income |
Personal Money Netwwork is an online connection service that works with people looking to take out a variety of loans, including both short-term loans and larger personal loans. How much you can borrow depends on your personal financial situation, where you live and the type of loan you’re interested in:
Like most connection services, Personal Money Network doesn’t charge a fee to match you with its partner lenders. If approved, you’ll be redirected to the lender’s website where you’ll find out what interest rate, fees and terms you qualify for. For a typical payday loan from one of Personal Money Network’s partner lenders, you can expect to pay a fee of $15 to $30 per $100 borrowed, depending on local and state laws..
Remember to budget for a payday or installment loan. If you aren’t sure you’ll be able to repay the loan on schedule, consider alternatives instead. Lenders often charge extra fees and interest for late or missing payments, which can send you into a cycle of debt that can be difficult to get out of.
Personal Money Network doesn’t offer its services to residents of Georgia, New York, Pennsylvania, South Dakota, Vermont or West Virginia. If you live in one of these states, you can visit our state directory to see what lenders are available where you live.
From its lax credit requirements to its fast process, there are a few perks of getting connected with a lender through Personal Money Network:
Consider these potential drawbacks before using Personal Money Network’s online connection service:
Overall, be careful when submitting your personal information and consider your short-term loan alternatives first.
In general, yes — though no website can ensure your information stays 100% safe. Personal Money Network does its part by using a 256-bit SSL security system, which encrypts any information you enter online to keep it secure. However, like all short-term loan brokers, it sends your information to various lenders in its network. This can be useful at first, but it might lead to emails and calls from lenders long after you’ve taken out the loan you needed.
Once you’re connected, make sure you understand how direct lenders work
Unlike many of its competitors, Personal Money Network actually has reviews — rare for a connection service. However, not everything is glowing praise. As of January 2019, Personal Money Network only receives a TrustScore of 6.5 out of 10 based on 135 reviews on Trustpilot. Many complained of poor customer service — though these comments were left back in 2016, making it difficult to judge how Personal Money Network has been doing recently.
Meanwhile, its Better Business Bureau (BBB) page doesn’t have much information available. It’s not accredited with the BBB, though it does earn an A+ rating based on factors like transparency and time in business.
In order to get connected with a lender through Personal Money Network, you must:
Provided you have all the information you need nearby, it should only take about five to 10 minutes to fill out Personal Money Network’s online form. Follow these steps:
It takes about three minutes for Personal Money Network to process your request and provide suggested lenders. If you’re connected with a lender, you will be redirected to the lender’s page to complete your application.
You’re all done using Personal Money Network. Instead, you’ll be redirected to the lender’s website, where you can finish up your application. If approved, you’ll receive your loan funds directly from the lender.
Be sure to read your contract over carefully before signing the dotted line. Short-term loans tend to be costly, so you’ll want to know the exact fees and interest rates you’ll be charged before agreeing to anything.
Personal Money Network is a good option when you need a short-term loan and don’t have the time to compare multiple lenders. But its lack of contact information can make it a risky move if you think you might have questions about the process.
Not sure Personal Money Network is right for you? Compare other short-term loan brokers or read our guide to payday loans to learn more about how they work.
