Updated for July, 2025
What is Moneytree?
Moneytree is a direct loan lender that offers personal loans and other short-term lending options like wire transfers and check-cashing. The company was founded in 1983.
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Is Moneytree Legit?
Yes. Moneytree is a legitimate company that operates in five states: California, Colorado, Idaho, Nevada, and Washington. They provide different types of loans based on the state you live in.
What Moneytree Offers
Specific loans and their availability will differ by state. And some online services are not available at all their locations. For example, you can apply online for a payday loan only in Idaho, Nevada, California, and Washington. But in general, here is what Moneytree offers:
- Installment loans
- Payday loans
- Title loans
- Business loans
- Wire transfers
- Check cashing
- Money orders
- Prepaid cards
Installment loans
An installment loan is a personal loan where you borrow a sum of money and pay it back in smaller increments over time. An installment loan is different from other types of loans because they do not require collateral. Meaning, you do not have to sign over your car or home and risk losing ownership of them if you cannot repay the loan. Installment loans from Moneytree are only available in Idaho, Nevada, and Colorado branches.
Moneytree Payday Loan Review
Moneytree is a well-known payday loan lender offering short-term loans to individuals in need of quick cash. This review will examine the pros and cons of borrowing from Moneytree, along with commonly asked questions to help you make an informed decision.
Loan Features
Moneytree offers payday loans with a straightforward application process, typically providing funds the same day you apply. These loans are designed to cover short-term financial needs and are meant to be repaid on your next payday. The loan amount and fees vary depending on your state and the specific loan product you choose.
Pros of Moneytree Payday Loans
Moneytree’s payday loans have several benefits, including fast approval and funding, flexible loan amounts, and the option to apply both online and in-person. Additionally, Moneytree offers other financial services, such as check cashing, money orders, and prepaid debit cards, making it a convenient one-stop-shop for many customers.
Cons of Moneytree Payday Loans
The primary downside of Moneytree payday loans is the high interest rates and fees associated with these short-term loans. Borrowers may find themselves in a cycle of debt if they cannot repay the loan on time and are forced to roll over or take out a new loan.
Common Questions about Moneytree Payday Loans
| Question | Answer |
|---|---|
| What are the requirements to apply for a Moneytree payday loan? | Applicants must be at least 18 years old, have a steady source of income, a valid ID, and an active checking account. |
| How much can I borrow from Moneytree? | Loan amounts vary by state and the specific loan product. Typically, Moneytree payday loans range from $50 to $1,000. |
| What is the repayment term for a Moneytree payday loan? | Repayment terms vary by state but are generally due on your next payday, typically within 14 to 31 days. |
| Can I get a Moneytree payday loan with bad credit? | Yes, Moneytree considers applicants with various credit scores. However, approval is not guaranteed, and the interest rate may be higher for those with poor credit. |
Payday Loans
A payday loan is a short-term loan with very high interest that is meant for people who need fast money in between paychecks. These are typically used for emergency expenses because they carry a high cost. Moneytree’s rates are transparent online.
For example, In California, you will pay $17.65 per $100 you borrow from them. So a $200 dollar loan due within 14 days will actually cost $235.30. In Idaho, the rate is $18.50 per $100, in Nevada it costs $16.50 per $100 borrowed, and in Washington the rate is $15 per $100.
Business Loans
Business loans through Moneytree are only available in Idaho, Nevada, and Washington. Again, they are transparent with their fees online. For every $1,000 borrowed, the fees and interest accumulate to $175, if you repay it within 30 days. So, if you want to borrow $1,000, your total cost would be $1,175. In order to apply for a business loan, you’ll need to provide proof of your business identity and a check from the checking account used for the business.
How do I Qualify?
Applying for a loan through Moneytree is relatively easy and can be done online in certain states. Those with fair or poor credit might still have the opportunity to qualify. You will need the following things:
- ID
- Social Security Number
- Physical address
- Phone number
- Checking account information
- Documents to verify your income
Pros & Cons of Moneytree
The good
Three main upsides; Moneytree is fast, secure, and easy to use. Overall, if you are in need of money for an emergency situation, you can at least know that Moneytree is a legitimate lender. They are well established and have been in business for over 20 years. Furthermore, they will not sell your information because they are the direct lender, so they are not working with third party sites.
Pros
- Quick
- Trusted secure site
- Transparent about fees online
- Online application in some states
The bad
After scouring online ratings for Moneytree, we found that they vary. One of the most important things to note is their extremely high fees and interest. For some payday and other loans, APR reaches upwards of 300%. This ultimately means you’ll be paying a lot extra for borrowing a small amount of money. However, this tends to be the norm for most lenders offering very quick short-term loans. It is worth considering other lenders that may be able to offer personal loans with much lower interest. This can save you money in the long run.
Cons
- Not available everywhere
- Not BBB acreddited
- Borrowing limits
- High APR
Should I get a Moneytree Loan?
Moneytree can lend you money in a pinch. However, it comes at a price. Any company charging APR rates in the hundreds is thriving on the extra interest they are taking from your pocket. In other words, in order to get a loan quickly, you will be paying a lot for it. The customer notice on their website summarizes this perfectly; “payday loans, High-interest Loans, and Title Loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.”
Think of Moneytree as a last resort, only if you’ve exhausted other options. Try exploring other personal loan lenders (and try to avoid payday loans in general) before settling for quick cash.
Conclusion
Moneytree payday loans can be a quick solution for those facing a short-term financial emergency. However, the high interest rates and fees associated with these loans make them a less-than-ideal option for many borrowers. Before choosing a payday loan from Moneytree, it’s crucial to explore other alternatives and carefully weigh the costs and benefits to determine if this lender is the best fit for your financial needs.
