About MoneyKey Online Installment Loans in Ohio
For the online Installment Loan in Ohio, MoneyKey acts as a Credit Services Organization (CSO) by arranging an Installment Loan between the customer and an unaffiliated third-party lender. This online Installment Loan is a loan product repayable in substantially equal payments. The number of installments that your loan is repayable in depends on the frequency of your income.
How much can I borrow in Ohio?
MoneyKey-OH, Inc. is a CSO and is not the lender in the state of Ohio. All loans are made by an unaffiliated third-party lender. As a CSO, MoneyKey will attempt to arrange an online Installment Loan for you between $200 and $1,000 (excluding the CSO Fee, as defined below). Whether an individual will be approved, and the amount they will be approved for, is dependent on certain qualification criteria.
How much will my Installment Loan cost in Ohio?
MoneyKey charges customers a Credit Service Organization Fee (CSO Fee). The CSO Fee will be financed by the third-party lender, and will be disbursed to us by the third-party lender on your behalf. The CSO Fee is incurred on the date that a loan agreement is entered into. The rate of the CSO Fee depends on the frequency of your income.
The unaffiliated third-party lender funding your loan will then charge you interest on the amount financed. A full breakdown of the fees and interest is in each customer’s loan agreement.
Early Repayment Notice: There is no penalty to pay off your Installment Loan earlier than scheduled. If you want to make an early payment, or pay an additional amount over and above your scheduled installment to reduce the total amount owed, you may do so at any time by contacting us by phone at 1-866-255-1668 or via email at email@example.com. MoneyKey encourages you to pay your loan off as quickly as possible.
Any payment made in excess of the scheduled payment (whether a partial or full prepayment) will reduce the total amount that you will pay the unaffiliated third-party lender.
In the event that you fully prepay the amount you owe to the unaffiliated third-party lender, you may qualify for a rebate for a portion of your CSO Fee, depending on how early you pay off your loan. If you are entitled to a rebate, we will forward any such rebate to the third-party lender on your behalf to reduce the amount you owe to the third-party lender.
A table with CSO Fee rebate information is found in each customer’s loan agreement.
Can I cancel my Installment Loan?
Yes. You can cancel your loan at no cost within three (3) business days of the effective date of your agreement by phone 1-866-255-1668 or via email at firstname.lastname@example.org.
If you cancel your loan, you will be responsible for returning the entire amount received from the third party lender back to us. If you do not return the entire amount back to us, your loan will remain outstanding and you will be responsible for paying the amount disclosed in your payment schedule in your loan agreement.
Who funds the Installment Loan in Ohio?
All Installment Loans in Ohio are funded by an unaffiliated third-party lender.
About Credit Services Organization
MoneyKey - OH, Inc. is licensed as a Credit Services Organization (CSO) by the Ohio Department of Financial Institutions, Department of Commerce.
As a CSO, MoneyKey attempts to arrange a loan between you and an unaffiliated third party lender, and is responsible for the ongoing servicing of any loans that are originated. All Installment Loans arranged by MoneyKey in Ohio are funded by an unaffiliated third-party lender.
I have a few more questions about Installment Loans in Ohio.
For additional questions, or if you would like to learn more about this online Installment Loans in Ohio, please call our Customer Care team at 1-866-255-1668 or check out the frequently asked questions (FAQs) for this product.