Loans for millennials, by millennials

Our application process is completely online and paperless for loans up to $50,000. You can apply for a loan in as little as 3 minutes and could have money in your bank account in just a few seconds, depending on who you bank with. We’re simple, fast and completely transparent.

Welcome to the new generation of credit. Living in the twenty-first century is the best time to be alive. You have access to not only the bare essentials but to modern services that makes experiences faster and easier. Healthcare and fitness options are easy and accessible, and cross-training and career flexibility has never been this good. We want to travel; we want to professionally develop with college courses and university degrees. And not just experience one school of thought, but all of them.

You can cross hemispheres in less than a day, so why shouldn’t you have access to a personal loan in just a few minutes. With MoneyMe, you can. We offer fast cash loans from $5,000 to $50,000 which can be applied for using a quick online application. The process takes just a few minutes, and transfers for quick cash loans can take as little as seconds from the moment you sign the contract.

We believe in responsible lending and easy transactions – no paperwork or lengthy forms. Our loan application process uses machine learning and smart algorithms to do all the heavy lifting, meaning a fast and effortless experience for you. Simply find what you want, apply for the cash loan you need, and then you get it, fast.

Secured loans

When you apply with money lenders for any size loan, whether that’s small loans and short term loans, or larger loans like renovation loans, a student loan or car loans, the credit provider is going to want to know what kind of assets you own, what type of employment you have, how comfortably you can afford to repay the loan amount and whether you represent any risk for lending.

A secured loan is money borrowed that is backed by your personal assets, like a car or a property. This process of securing your personal loan helps to mitigate the risk assumed by the credit provider in the instance of you not repaying the loan, and therefore offers the credit provider a way of recouping any losses they incur in the event of a default. When you fail to make your repayments, it’s called a default.

MoneyMe makes informed lending decisions based your credit profile, bank statements, demographics and other factors that go into our machine learning and AI processes to ensure fairer, tailored outcomes. We don’t believe in quick judgments and we tailor our loans online for specific customers. It’s not a one-size-fits-all world so why should loans online or a line of credit work that way?

How secured loans work

For example, you applied for a $10,000 secured loan and have a car owned outright, worth about $8,000. Your credit provider will evaluate the risk of how likely you are to repay your loan based on the information drawn from your credit history and credit file, plus the worth of the asset you would like to secure your loan to. In their calculations, they will choose interest rates that reflect the level of risk they are assuming when they give you the money. The risk of your loan to a lender means loan offer might result in the amount requested or in some instances lower amounts. Given your credit history, they may offer you the $10,000 if you use your car as collateral. In some cases, they’ll need to reduce the loan offer if you don’t fit within their lending criteria and acceptable level of risk.

Unsecured loans

An unsecured loan is a loan that is offered based on your general daily expenses, employment income, savings and history with any credit options you have had. It may be that you’ve never had a bank loan or a credit card before, or you may have had some financial hurdles that required extra cash in hand. Here at MoneyMe, we use machine learning and AI to scan thousands of touch points, allowing our smart algorithms to provide fairer, tailored loans suited to your personal circumstances

We understand that sometimes life events just happen and when you’re trying to get on top of your finances, you need a little help.

Determining your rate

When we evaluate loan applications, we consider the whole picture. Changes to credit history information mean that lenders are now able to access a more comprehensive credit report. Unlike the old credit score model that would usually only include negative reporting, the new comprehensive report allows lenders to view positive credit behaviours. This will give you the opportunity to make your repayments on time and create a positive influence on your credit score.