Online Direct Lender Loans

Online Direct Lender Loans

Not having enough money in your savings may result in a stressful situation if an unexpected expense arises. There are lots of times when unexpected costs can’t be put off. From medical bills to emergency auto repairs, life can be full of unanticipated expenses. When unexpected but necessary expenses pop up, finding a solution may not always be straightforward.

Many people who search for help online may 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 usually made available through a loan matching service or a direct online 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 an initial loan application on their website and then be connected with a lender.

Online direct lenders are financial institutions that fund your loan, if approved. Reputable online direct lenders comply with both state and federal laws, which means they follow and are accountable for all the lending rules and regulations set out by each specific state they operate in.

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 will 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 have internet access.

Why Choose Direct Lender Loans from MoneyKey?


1. Simple Application

  • Quick online application takes just minutes to complete
  • It’s quicker and simpler than many traditional lending options
  • If you have internet, you can apply online from anywhere and receive funding

2. Fast Approval

  • Verify your information with our Customer Care team to get approved in minutes*
  • Friendly and knowledgeable Customer Care agents
  • Available 7 days a week to help you through the online application process

3. Quick Funding and Emergencies

  • Handle emergency expenses with this quick cash advance
  • If approved, money is deposited in your account as soon as the next business day*
  • Fast and simple way to get the cash you need, when you need it

When you’re required to pay back your loan will vary depending on the type of loan and the state you live in.

  • Payments for installment loans online may be spread out over several months depending on the terms of the loan.
  • Personal lines of credit are different in that they are revolving. This means that you can continue to borrow money against your credit limit as long as you have available credit.

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 operates in, you can visit our rates page to see the rates and terms offered in your state.

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Online Direct Lender Loans Offered by MoneyKey


Installment Loans

Installment loans are short-term personal loans that are paid back in installments over time. A MoneyKey Installment Loan can be used for a variety of things like home and car repairs, emergency medical expenses or other non-recurring bills.

Lines of Credit

A line of credit is an open-ended borrowing option that you apply for only once. A MoneyKey Line of Credit can be used for unexpected expenses that may occur in your day-to-day life.



Benefits of Online Loans from Direct Lenders

Obtaining the funds to cover an unexpected emergency expense can be stressful and time sensitive. Direct lenders, like MoneyKey, typically have fast turn-around times, and in many cases, you may receive your funding as soon as 1 business day after having your application approved. Read on to learn more about the benefits of online loans from direct lenders.


Work With a Single Institution

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 loan is done with one financial institution.

Secure Your Personal Information

When working with online direct lenders, you have the freedom to research a lender to ensure they’re committed to keeping your personal information safe.

Find Solutions to Help With Your Needs

Direct lenders offer a wide variety of cash advance services. Take your time to research your options and choose a lender that is suited to help you with your particular situation.

1. You’ll be working with a single institution

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 loan is done with one financial institution. This may make the entire application process easier to follow and it will give you the opportunity to research the rates and qualifications required by the potential 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 applying with.

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

2. Secure your personal financial information

When you’re utilizing loan-matching services, the personal information that you provide may end up with third parties that you may not be aware of.

When you’re working with online direct lenders, you’ll be able to research an organization to understand how they treat your personal information.

3. Find direct lender loans or cash advances 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 may be your goal. But this doesn’t mean you should 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 may not necessarily be looking for a loan that fits your specific needs. When you’re seeking out direct lender loans by yourself, you’ll be able to evaluate each lender to make sure that you apply for loans that you can afford to pay back.

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

When you’re sifting through all direct lenders online out there, you might not know where to start when it comes to figuring out which loan product is suitable for you.. There are some things you’re going to want to look at.

Straightforward application process

One of the main selling points of online installment loans direct lenders is that they may provide a simple application process. 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.

How much interest will you be paying?

There are a number of different factors that will determine the interest or fees 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.

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

  • 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 of these cash advances.
  • Ensure that your personal information is adequately protected.
  • An online direct lender should provide 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, where required, 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 avoid when working with direct lenders for bad credit personal loans?

In addition to knowing what to look for when evaluating a direct lender, there are also some general rules you should follow when you’re thinking about applying for a loan. Here are some things to avoid.

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

If you have poor credit and are 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 back.

If you don’t think you’re going to be able to keep up with your payments, you should consider other borrowing options. Remember to only take out a loan for the amount of money you need. If you get approved for a larger loan amount, 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, some lenders may charge you late fees.

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 financial 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 through MoneyKey, 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 should mention all of the loan rates and terms.

They should also display their state licenses, showing they are legally authorized to lend within that state. MoneyKey is an online direct lender in the following states:

Idaho, New Mexico, Wisconsin, Tennessee, Mississippi, South Carolina, Delaware, Kansas, Missouri, and Utah.

MoneyKey offers 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. In the state of Texas, MoneyKey operates as a Credit Access Business (CAB), which means that they service loans on behalf of third-party lenders.

We’ve helped over 400,000+ customers.Let us help you!

Not all applications are approved; duration of approval process may vary. Loan amounts are subject to further verification criteria. If you are a returning customer, loan amounts may vary.

* If approved, any requested funds will typically be deposited into your bank account within one (1) to two (2) business days. The date and time funds are made available to you by your bank are subject to your bank's policies.

MoneyKey reserves the right to assess your creditworthiness periodically.

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 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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