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Online Direct Lenders

Money can’t buy happiness, but not having enough when surprise expenses happen can cause more than just stress. There are lots of times when unexpected costs can’t be put off. From medical bills to auto repairs, life is full of expensive surprises. When unexpected but necessary expenses pop up, finding a solution isn’t always straightforward. Many people will search for help online and find that payday loans, installment loans or lines of credit are all options that may help with their short-term financial problems. These online products are made available through a loan matching service or an online direct lender. While these two services may look similar on the surface, there are distinct differences between the two.

What are online direct lenders?

A loan matching service does not fund your loan. Instead, you’ll fill out a loan application on their website and they’ll shop this application around to third-party lenders to find one that will accept and fund your loan. Online direct lenders are companies that both receive your online loan application and fund your loan. Reputable online direct lenders are state licensed which means they follow, and are accountable for, all the lending rules and regulations set out by each specific state.

How do online loans from direct lenders work?

When you work with online direct lenders, your communication and interactions will generally be with one financial institution. The process of applying for your loan, getting approved, receiving your funds and paying back your loan with all be with one lender. With online direct lenders, much of this process, including filling out your loan application, will be done online. This may make things easier for you as you can apply from anywhere you get internet.

With MoneyKey, the process is simple. Start by submitting an application online, which only takes a few minutes to complete. You can start the application 24 hours a day, 7 days a week.

You’ll then need to verify your information with our Customer Care team you could be approved in minutes. If approved, you can get access to your money as soon as the next business day.

When you’re required to pay back your loan will vary depending on the type of loan – payday loans typically need to be paid back by your next paycheck, whereas payments for installment loans online will be spread out over several months – and the state you live in. A loan like a personal line of credit is different in that it’s revolving. This means that you can continue to borrow money against your limit as long as you’ve paid off what you owe.

It’s important to remember that lending regulations may vary from state to state, so you may receive different terms and rates depending on what state you reside in. If you live in a state that MoneyKey operate in, you can visit our rates page to see the rates and terms offered in your state.

Benefits of Direct Lenders for Online Loans and Line of Credit

You’ll be working with a single institution

When you’re navigating your way through the borrowing process and need to speak to multiple parties, things may get confusing. You might not know where your loan offer is coming from until you actually have the loan agreement in front of you, and this means you won’t be able to do any research into the company offering the loan in advance.

When you’re working with direct lenders, everything from the time you submit your loan application to when you receive the funds and pay back your line is done with one financial institution. This may make the entire borrowing process easier to follow and will give you the opportunity to research the rates and qualifications of the lender.

Why is this so important? Well, when you’re making a big financial decision like taking out a loan, it’s important to review all your options and do thorough research into the lenders you may be borrowing from.

Direct lenders online may also be able to provide you with better customer support, as you can generally get support straight from the lender’s website.

You can research direct lenders to make sure your information will be secure

When you’re utilizing loan-matching services, the personal information that you provide may end up getting passed around to different third parties, and you may start to receive unwanted calls and emails from other companies.

When you’re working with online direct lenders, you’ll be able to research an organization to make sure that your personal information will be secure and won’t be given to other parties.

Find direct lender loans or cash advance tailored to your specific needs

When you’re facing an unexpected emergency expense, the need for speed can be vital. You may not be able to put off your payments, so getting approved for a loan as quickly as possible will be key. But this doesn’t mean you should just take the first loan you can get without making sure that you’re comfortable with the terms of the loan.

Loan-matching services may present you with an offer for a loan quickly, but they won’t necessarily be looking for a loan that’s tailored to your specific needs. When you’re seeking out direct lender loans by yourself, you’ll be able to evaluate each lender to make sure they’re able to meet your specific financial needs.

Other things to look for when applying for a loan from an online direct lender include:

  • Online direct lenders should mention all types of loans available in your state (e.g. Payday Loan, Installment Loan, Line of Credit) and clearly explain all applicable rates and terms, including those related to any cash advance.
  • Ensure that your personal information is adequately protected.
  • An online direct lender should mention all of the loan rates and terms on their website. If they are state licensed, they will also have links that display their state licenses which show that they are legally allowed to lend in that state. A direct lender will review your information, determine your eligibility and, if you are approved, they will fund your loan.

What should you be looking for when evaluating online direct lenders?

When you’re sifting through all the lending options out there, you might not know where to start when it comes to figuring out which lender can best fulfill your specific needs. When you’re evaluating direct lenders, there are some things you’re going to want to look at.

The difficulty of the process

One of the main selling points of online installment loans direct lenders is they’re supposed to provide a simple application process, but not every direct lender will fulfill this proposition. The amount of time it takes for a lender to verify your information, review your application, approve your loan, and send you your funds will vary between lenders. It’s important that you evaluate the entire lending process to find one that’s fast, simple, and secure.

Will the application process affect your credit?

While some direct lenders won’t conduct credit checks, some may. It’s important to know whether a lender will run a credit check, and if they do, what type of credit check they’ll run. When a lender runs a soft inquiry into your credit which typically won’t affect your credit, while a hard inquiry will. If they do run a hard inquiry, they should ask for your consent beforehand.

How much interest will you be paying?

There are a number of different factors that will determine the interest rates of your loan – like what state you live – but some lenders may charge different fees from others. Make sure you always look into the terms and fees of a loan when you’re evaluating different direct lenders, and don’t apply for a loan before you have this information.

What should you avoid when working with direct lenders for bad credit personal loans?

In addition to knowing what to look for, When you’re evaluating a lender, there are also some general rules you’re going to want to follow when you’re thinking about taking out a loan. Here are some things to avoid.

Don’t accept a loan for more money than you need or can afford

Even when you’re looking for direct lender installment loans for bad credit because you’re facing an emergency that you need to pay for right away, don’t forget that at some point, you’re going to have to pay that loan off. If you don’t think you’re going to be able to keep up with your payments, you might want to look into other options. You should remember to only accept take a loan for the amount of money you need. If you get approved for a bigger loan, don’t feel obligated to take it just because it’s available to you.

Don’t miss your loan payments  

If you’re not able to keep up with your payments in a timely fashion, lenders will likely begin to charge you late fees. Also, if your loan payments are automatically withdrawn from your account, and your account is empty, you may be charged fees for having insufficient funds.

Don’t settle for a loan that doesn’t suit your needs

Considering how many lenders there are out there, you should always do your research and find direct lenders online that can suit your needs. See what’s available to you and don’t settle for something that doesn’t work for you.

Eligibility and how to apply

The requirements for a loan will vary from lender to lender, so it’s important that you look into each lender’s requirements before you apply. To qualify for a loan with MoneyKey, you must:

To qualify for a loan or line of credit you must:

  • Be of legal age to contract in your state
  • Be a US citizen or permanent resident
  • Be a resident in the state where our product is offered
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Look for a direct lender you can trust

If you prefer to apply for a loan with an online direct lender there are ways to make sure the company is, in fact, a direct lender and not a loan matching service. The easiest way to find out is to check their website. An online direct lender will mention all of the loan rates and terms. They will also have links that display their state licences showing they are legally allowed to lend within that state. MoneyKey is an online direct lender in the following states: California, Idaho, New Mexico, Wisconsin, Tennessee, Mississippi, Alabama, South Carolina, Delaware, Illinois, Kansas, Missouri, and Utah. We offer Single-Pay Payday Loans, Flex-Pay Installment Loans, Substantially Equal Payment Installment Loans and Lines of Credit so you can choose the option that best suits your needs*.

You can feel secure knowing that, from start to finish, you will only deal with MoneyKey’s friendly Customer Care Representatives. MoneyKey is also affiliated with other state regulated direct lenders in Texas. We are partnered with third-party lenders in Texas to act as a Credit Access Business (CAB) in this state.

We care about our customers and want to make sure they are well informed before committing to any contract. When an emergency arises and you need to make ends meet, thoroughly researching can take a back seat to finding fast access to cash. We understand this and this is why we try to provide our customers with easy access to lending information so they can make the best choice for their unique financial situation. 


We’ve helped over 250,000 customers.Let us help you!

Not all applications are approved; duration of approval process may vary.

* If your loan is approved before 9:00 PM ET from Monday through Thursday, or before 6:30 PM ET Sunday, the funds will typically be deposited into your bank account the next business day, otherwise, your funds will be deposited into your bank account in two (2) business days. The date and time funds are made available to you are subject to your bank's policies.

Disclaimers: Product availability varies by state. To see loan products offered in your state of residence, please visit our Rates and Terms page. MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB), License No. 16641-62815, by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization (CSO), Registration No. 20110150, by the State of Texas. All loans for which MoneyKey acts as a CSO and/or CAB are funded by an unaffiliated third-party lender and serviced by MoneyKey.

In the State of California, MoneyKey – CA, Inc. is licensed by the Department of Business Oversight pursuant to California Finance Lenders Law License No. 60DBO43590 and California Deferred Deposit Transaction Law License No.1004516.

Reviews and any ratings referenced are based on TrustPilot reviews. Images are for illustrative purposes only. Reviews reflect individuals’ opinions and may not be illustrative of all individual experiences with MoneyKey.

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