Monevo Personal Loans Review


Rating: 9.6 / 10 (Excellent)
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Monevo, Inc. is a personal loan marketplace headquartered in San Diego, California. Originally founded in 2008, this company aims to match potential personal loan applicants to those lenders that are most compatible with their parameters. With over nine accreditations and recognitions, Monevo is a subsidiary of Quint Group, a UK-based financial institution.

How is Monevo rated?

Breakdown

10/10
Loan Specifics
10/10
Qualification
10/10
Cost of Loan
10/10
Lender Reputation

Overall Rating: 9.6 / 10 (Excellent)

Monevo is an established and well-regarded European personal loan marketplace that has recently begun operations in the United States. It offers consumers solid assurances about the privacy and security of their personal data, their corporate reputation, its own identity, and the identity of its lending partners. Although it hasn't operated in America for a long time, it already has a claim to being among the very best marketplaces in its industry.

Monevo Loan Specifics

Loan Specifics - 9.6 / 10

Monevo is a personal loan marketplace, rather than a lender. Therefore, the specifics about loan terms, decision time frames, disbursements, and other loan features will vary depending on which lending companies Monevo refers its customers to. Consumers are advised to find out about these and other details from the lending companies themselves.
Loan Minimum
$1,000
Loan Maximum
$100,000

Monevo Qualification

Qualification - 9.6 / 10

Moveno asks its customers to supply their credit scores, annual income, educational levels, type of residence, and personal identifying information so that it can match them with prospective lenders. However, the company does not enforce requirements as to any of these factors. Rather, it collects that data and passes it on to its lending partners, which may or may not have such requirements.
Personal Income Considered
Yes
Verify Bank Account
No
Hard Credit Pull
No

Monevo Cost of Loan

Cost of Loan - 9.6 / 10

Loan costs, interest rates, penalties, and fees are determined by the lenders Monevo sends its customers to, not Monevo itself. Consumers are advised to ask the lenders they've been referred to all of those questions directly.

Monevo Reputation

Lender Reputation - 9.7 / 10

Monevo has won a number of awards for its business practices in the UK, including The Queen's Awards for Enterprise Innovation. It doesn't have any presence on Trustpilot or any reviews with the BBB, but this is likely due to the fact that the firm has only recently begun operations in America. The company is the largest personal loan marketplace in Europe, which suggests that a substantial number of people find its services to be useful and reliable. Though Monevo is a new name in the American market, its reputation appears to be very sound.
Type of Lender
Marketplace
Year Founded
2017
BBB Rating
A-
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Date Collected
2018-03-08

Company Profile

Full Name
Monevo Personal Loans
Company Website
Headquarters
520 Broadway, Santa Monica, CA, 90401

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Customer Comments & Reviews

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M
Maggie
Los Angeles, California
5/22/2018
Easy process. Found the lowest rate and received the funds within 2-3 days.


C
Carolyn
Kyle, Texas
12/11/2017
This company doesn't even answer their phones! Makes you wonder if there's ever going to be support once you apply for a loan.



Our Partner
9.6 / 10
  • A multi-award winning personal loan matching service
  • Personalized loan offers in less than 60 seconds.
  • Rates starting at 3.09% APR
  • Network of lenders offering loan amounts $1,000 - $100,000
  • No impact on your credit score to check your personal loan rates
  • Funds available as soon as next business day