State Licensed Direct Lender in Utah
MoneyKey is a state-licensed direct lender in Utah. Loans are funded by MoneyKey – UT, Inc. and governed by all applicable laws.
Click below to view the Utah Consumer Credit Notification.
Dealing with an emergency expense you haven’t planned for can be difficult, but MoneyKey may be able to help. We offer Installment Loans in Salt Lake City, Utah and throughout the entire state. Our Installment Loans range between $200 and $2,500 to help you handle unforeseen expenses when your emergency savings can’t cover them.
This personal Installment Loan is paid off in either 11 or 23 scheduled installments, depending on whether you are paid monthly, semi-monthly, bi-weekly or weekly. Online installment loans have a predictable payment schedule, which may make paying off your loan more manageable. Read and learn more about the benefits of installment loans and when they can be an effective solution to pay for unexpected and short-term expenses before making a decision about which type of loan to choose.
We make the application process for Salt Lake City loans simple. It only takes minutes to complete the application, and if you’re approved, you’ll have the cash you need as soon as the same business day*.
As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time†.
Sitting along the Wasatch Mountains in Utah, Salt Lake City occupies one of the many vibrant natural scenes in the country. This area is home to five national parks and is a popular destination for skiers.
Because of this, many residents and tourists alike take full advantage of the surrounding nature, with skiing being one of the central activities at their disposal.
This is reflected in the numbers, as Utah saw a total of 5.8 million visits by skiers in the winter of 2021-22. Of course, with activities like skiing, a risk of injury is present. Unfortunately, not everyone has the necessary savings to tackle an unforeseen medical bill.
Luckily, if you’re faced with a medical bill and you don’t have the emergency funds to handle it, a MoneyKey Installment Loan in Salt Lake City, Utah may be able to help!
If you’re looking to apply for a Salt Lake City Installment Loan, click here or call us at 1-866-255-1668 for more information.
As a payday loan alternative, with Installment Loans in Salt Lake City with MoneyKey you may be able to borrow between $200 and $2,500. After reviewing your application, we will let you know how much you are eligible for. After approval, you can expect to receive funds by the same business day*.
Interest will be charged on your Installment Lon, with a maximum annual percentage rate (APR) of 295%.
The APR, repayment amount and payment schedule will vary depending on the specific details of your loan, which are available in your loan agreement.
As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time†.
The length of your Installment Loan in Utah will span approximately 12 months.
In this example, the APR is 291.19% for a $1,000 Installment Loan with an Effective Date of 08/13/2020, payable in 23 bi-weekly installments.
| Annual Percentage Rate | Finance Charge | Amount Financed | Total of Payments |
|---|---|---|---|
The cost of your credit as a yearly rate 291.19% | The dollar amount the credit will cost you $1,820.88 | The amount of credit provided to you on your behalf $1,000.00 | The amount you will have paid after you have made all payments as scheduled $2,820.88 |
| Payment Date | Payment Amount |
|---|---|
| 08/27/2020 | $122.68 |
| 09/10/2020 | $122.68 |
In this example, the APR is 291.89% for a $1,000 Installment Loan with an Effective Date of 09/16/2020, payable in 11 monthly installments.
| Annual Percentage Rate | Finance Charge | Amount Financed | Total of Payments |
|---|---|---|---|
The cost of your credit as a yearly rate 291.89% | The dollar amount the credit will cost you $1,627.56 | The amount of credit provided to you on your behalf $1,000.00 | The amount you will have paid after you have made all payments as scheduled $2,627.56 |
| Payment Date | Payment Amount |
|---|---|
| 10/02/2020 | $238.79 |
| 11/04/2020 | $238.78 |
At MoneyKey, we strongly urge you to use this form of credit only as a stopgap to cover unexpected expenses. It is not intended to help you meet long-term financial needs or those that require a large loan amount.
MoneyKey is a state-licensed direct lender in Utah. Loans are funded by MoneyKey – UT, Inc. and governed by all applicable laws.
Click below to view the Utah Consumer Credit Notification.
In order to qualify for an online Loan with MoneyKey in Salt Lake City, borrowers must:
Please note that currently, no credit products offered through MoneyKey have rates that would meet the requirements applicable to lend to covered members of the US Armed Forces and their dependents.
If you need money quickly to help you manage an emergency expense, MoneyKey may be able to help. Avoid dealing with lines, business hours that don’t work with your schedule, and lengthy application processes by applying for an online loan in just minutes from the comfort of your own home.
Yes, you may. If you meet the minimum requirements, you may be able to qualify for a Salt Lake City Installment Loan through MoneyKey. To learn more, read our article about how to qualify for an installment loan even with poor credit.
For details on specific funding cut-off times, visit MoneyKey’s FAQs here.
No appointment is required to apply for an online loan through MoneyKey. You can start the online application process by clicking here. The process is simple, and the application may take minutes to complete.
When you’re in a tricky spot with your finances, applying for a personal Installment Loan in Utah is a big decision. At MoneyKey, we may be able to help. If you need any more information or guidance throughout this process, reach out to us at 1-866-255-1668 and our Customer Care team will be happy to help. You can also find more information about MoneyKey and our products and/or services by visiting our general FAQs page.
Yes, it’s possible that they will. When any installment loan payments that you’re going to be making are reported to a credit bureau, there may be some degree of impact on your credit score. But is the impact going to be positive or negative? Well, that’ll depend on how timely your payments are. If you make late loan payments, you could be doing some harm to your credit history. Ultimately, while your credit score can be impacted by a wide variety of factors, you should always make sure that you have a plan in place to make your installment loan payments on time. Otherwise, you risk doing damage to your overall financial standing.
Installment loans and lines of credit are two common ways of borrowing funds, each with their unique characteristics and uses. Understanding the differences between them can help borrowers make informed financial decisions based on their specific needs and circumstances.
A personal installment loan is a type of loan that is repaid in fixed installments over a set period of time. The borrower receives a lump sum of money upfront and repays it in equal installments. Once the loan is fully repaid, the borrower's obligation is considered fulfilled, and the installment loan is closed.
On the other hand, a line of credit is a flexible way of borrowing that allows borrowers to access a pre-approved credit limit on an as-needed basis. It operates like a revolving credit account where the borrower can borrow, repay, and borrow again up to the credit limit. Interest and/or fees are only charged on the amount borrowed, and borrowers are required to make a minimum payment on their due dates to keep the account in good standing. They are, however, encouraged to make full payments if they’re able to.
Overall, installment loans and lines of credit are two distinct types of borrowing options with different features and uses. It's essential to carefully consider your borrowing needs and financial situation before choosing between these two potential options. Consulting with a financial professional can also provide valuable guidance in making the right decision.
Storefront loans and online loans are two different types of borrowing options that individuals can apply for when they need financial assistance. The key difference between the two lies in the method of application, approval, and disbursement. Storefront loans are obtained from physical lending institutions and to apply for a storefront loan, borrowers typically need to visit the lender's physical location, fill out a paper application, and provide physical copies of supporting documents. The process may take longer, as it often involves waiting to speak to someone in person.
On the other hand, online loans, as the name suggests, are loans that are applied for and processed entirely online through online lenders. Borrowers can complete the loan application online, upload electronic copies of supporting documents, and submit the application electronically. The process for online loans is typically faster, as the application takes minutes to complete. If approved, borrowers may receive the funds electronically in their bank account.
Another key difference between storefront loans and online loans is the accessibility and convenience. Storefront loans may require borrowers to physically visit a lender's location, which can be time-consuming and inconvenient, especially for those who live in remote areas. On the other hand, online loans can be applied for from anywhere with an internet connection, making them more convenient and accessible for borrowers.