Monevo Personal Loans Review

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.

Monevo partners directly with over 30 direct lenders to help you find great loan options. Their platform presents personalized results online, based on a soft credit check, in 60 seconds or less. Some of Monevo's direct lender partners do consider unique factors, such as completion of higher education as a factor when assessing debt to income ratio during their decision-making process as well.

Loan costs, interest rates, penalties, and fees are determined by the lenders Monevo sends its customers to, not Monevo itself. Although consumers are generally advised to ask the lenders they've been referred to all of those questions directly, Monevo does display the APR range of potential loans on their results page, with further details available on the lender's website.

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 and only one review 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.